New Brunswick Export Economy Braces for Impact from US Tariffs

New tariffs imposed by US President Donald Trump will hit $122 million of New Brunswick's export economy, according to preliminary assessments. The 50% tariff on Canadian goods is set to take effect in 30 days.

Although the impact represents less than one percent of the province's exports, Premier Susan Holt acknowledges it could be a significant blow for smaller businesses. 'It will hurt,' she said. 'Some of that means millions of dollars to some small businesses.'

The U.S. Trade Representative's office listed nearly $20 billion worth of Canadian goods subject to new levies, including milk products, wine, and whisky. However, dozens of other products are on the list, including natural honey, tulip bulbs, makeup, Christmas decorations, and plastic products.

Holt has pledged support for affected businesses, stating, 'We will dive into those impacts, company by company, instance by instance.' The premier also mentioned a meeting with Prime Minister Mark Carney, where he reasserted the commitment of $1 billion in tariff relief for impacted businesses.