British Columbia Premier David Eby warns of the severe impact of U.S. President Donald Trump's proposed tariffs on Canadian goods, suggesting potential economic consequences surpassing the 2008 financial crisis. Eby pledges government support, including pandemic-style relief measures, to mitigate the effects on families and businesses.
VANCOUVER — Projections show U.S. President Donald Trump's promised tariffs on Canadian goods could hit British Columbia's economy harder than the recession triggered by the 2008 global financial crisis, Premier David Eby said as he backed pandemic-style relief measures.
Trump has threatened to introduce 25 per cent tariffs on Canadian goods starting on Saturday, and his press secretary, Karoline Leavitt, told reporters at the White House on Tuesday the plan was"still on the books" for that day. "It is bizarre. We have so many shared priorities and interests and shared prosperity, but we will not back down just because the bully is more powerful and bigger than us."
Eby said relief measures could include pandemic-style employment insurance for people who may be laid off as their employers feel the pinch, as well as grants and loans for businesses.The 2008 global financial crisis threw B.C.'s economy into reverse, going from three per cent growth in 2007 to a 2.3 per cent contraction in 2009, according to the province's annual financial and economic reviews.
TRADE WAR TARIFFS ECONOMY BRITISH COLUMBIA CANADA
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