The threat of a 25 percent tariff on Canadian goods by the United States has sparked alarm among Canadian businesses, particularly in the city of Vernon, British Columbia. The Greater Vernon Chamber of Commerce has voiced concerns about the potential impact on two major local employers who heavily rely on US exports. The Chamber president, Kirndeep Nahal, has urged Prime Minister Justin Trudeau and other cabinet ministers to reconvene Parliament immediately to protect Canadian jobs and the economy. The letter highlights the significant economic interdependence between Canada and the US, emphasizing the potential harm that tariffs could inflict on both nations.
A potential 25 percent tariff imposed on Canadian goods by the United States has local companies concerned. The tariffs could have severe repercussions for two Vernon businesses, according to the Greater Vernon Chamber of Commerce. Chamber president Kirndeep Nahal states in a letter sent to Prime Minister Justin Trudeau on January 29th, 'One large manufacturer, employing over 100 people, derives 75 percent of its revenue from exports to the United States.
Similarly, another major local employer sells 40 percent of its products south of the border. These companies are vital to our local economy, providing jobs and contributing to the overall prosperity of our region.' Nahal urges the federal government to reconvene Parliament as soon as possible to protect Canadian businesses and jobs. 'The livelihoods of our residents and the future of our local economy depend on it.' Parliament is currently prorogued until March 24th, following Trudeau's resignation announcement. 'This delay is unacceptable,' Nahal says.The letter states that $3.6 billion in goods cross the Canada-US border daily, fueling a $1.3 trillion annual trade relationship. The partnership supports 2.3 million Canadian jobs and 1.4 million American jobs. Canadian Chamber Business Data Lab reports the 25 percent tariffs on Canadian goods would reduce real annual income by $1,900 (Canadian dollars) per Canadian and $1,300 (US dollars) per American. 'At a time when businesses are already navigating economic uncertainty, the introduction of these tariffs could further strain their ability to remain competitive,' Nahal said. 'Swift action by the government is urgently needed to address this critical issue and to ensure that Canadian businesses are not unfairly disadvantaged.' The letter is also addressed to Harjit Sajjan, Minister responsible for the Pacific Economic Development Agency of Canada, and Mary Ng, Minister of Export Promotion, International Trade and Economic Development
TRADE WAR TARIFFS CANADA UNITED STATES ECONOMY BUSINESSES JOBS
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