Quebec Finance Minister Warns of Economic Uncertainty Amid Trade Disputes

Éric Girard, Quebec's finance minister, discussed the province's economic challenges during an interview. He stated that the whole climate is a 'climate of uncertainty' and 'not favourable for investment.' The main issue at hand is the impact of Trump tariffs on Canada-US trade talks, which started in February 2025 and has been ongoing for 18 months.

Girard emphasized that Quebec, British Columbia, and Ontario are the provinces most affected by the crisis. He estimated that the cumulative impact could result in a 2% lower GDP than expected by 2027. The province's aluminum manufacturing sector is particularly significant, as it accounts for a large share of Quebec's economy.

Girard also highlighted other factors contributing to the economic downturn, including the war in the Middle East and rising fossil fuel costs. Additionally, the loss of control over temporary immigration in 2023 and 2024 has led to slower growth in the number of workers.

When asked if the Canadian government could have handled relations with Trump differently, Girard replied that yes, they possibly could have, but it's uncertain whether they would have succeeded. He pointed out that communication between the two countries was good, and there were no apparent major mistakes made during negotiations.