The Canadian Chamber of Commerce has described tariffs as “daily blows” for Canadian and US economies in a statement on the 90-day pause that US President Donald Trump declared on reciprocal tariffs worldwide.
Executive vice president and public policy chief Matthew Holmes explained that the tariffs break “business ties that have supported communities on both sides of the border for generations.
“What’s at stake is more than just trade flows, it’s the livelihoods of workers, the survival of businesses and the strength of communities built on cross-border partnership,” Holmes said.
The pause highlighted the impact of halting tariffs, but the tariffs didn’t drop for Canada, which will still face 25 percent tariffs.
“Despite being America’s closest and most reliable business partner, we’re still being treated worse than almost anyone — second only to China,” Holmes said in the statement. “We still have in effect hiked up taxes on steel and aluminum, auto, lumber and potash that Americans will ultimately pay.”
He noted that historically, Canada had sided with the US regarding economy, military, and global initiatives. However, the “missed opportunity” indicated that Canadian businesses could no longer rely on the US.
In February, the “US Tariff Exposure Index” released by the Canadian Chamber of Commerce’s Business Data Lab revealed that Ontario, New Brunswick, and Alberta were highly vulnerable to the US tariffs, with New Brunswick’s Saint John being the most at-risk city due to its oil exports to the US. The Canadian Chamber of Commerce also called for the government to fulfill tax and regulatory reform promises and free up internal trade.
Just last October, a survey conducted by the BDL indicated that long-term business optimism was at its highest in three years, even though short-term business sentiment dropped.
The Canadian Chamber of Commerce represents more than 400 chambers of commerce and trade boards and over 200,000 businesses of all sizes in various sectors across Canada.