A former B.C. MLA didn乌鸦传媒檛 hold back when talking about U.S. President Donald Trump during a panel discussion on tariffs at UBC Okanagan (UBCO) on Wednesday (Mar. 5).
Barry Penner, who served as Attorney General, environment minister, and Aboriginal relations minister during four terms, said he believes Canada has taken the right approach in handling U.S. tariffs.
乌鸦传媒淭he man in the White House is obviously a bully,乌鸦传媒� Penner said. 乌鸦传媒淵eah, you乌鸦传媒檒l get some hits if you stand up to a bully 乌鸦传媒� but you乌鸦传媒檒l get more hits if you don乌鸦传媒檛. We want to try and find our way through this, and we will somehow.乌鸦传媒�
Penner, now chair of the Energy Futures Institute, was part of a six-member panel hosted by the Kelowna Chamber of Commerce. He made it clear that Canada didn乌鸦传媒檛 choose this trade battle but had no choice but to navigate it. He also criticized Trump乌鸦传媒檚 trade policies, arguing they aren乌鸦传媒檛 helping the U.S. or the Western world.
John Lambiris, VP of sales and procurement with Star Group (agriculture), said there has been a surprising benefit for his industry - the support of Canadian retailers.
乌鸦传媒淭hey have asked us to increase orders乌鸦传媒� they have asked us to source the world for options that are not American,乌鸦传媒� Lambiris said. 乌鸦传媒淭his feels real. It feels like we may have collectively woken up an opportunity that乌鸦传媒檚 been in our backyard for decades.乌鸦传媒�
However, he warned that once Canadian buyers move away from U.S. suppliers, it will be hard for those suppliers to regain their foothold in the market.
Grant Stevens, Chief Corporate Services Officer with KF Aerospace, said the uncertainty caused by tariffs will have a ripple effect on several industries, including airlines.
乌鸦传媒淎s we乌鸦传媒檝e seen before in times like COVID, and other economic issues, when we get into times of uncertainty, consumer sentiment gets scared, spending dries up, and companies suffer as a result.乌鸦传媒�
If tariffs stick around for the long haul, he warned that Canada乌鸦传媒檚 aviation manufacturing industry could struggle to compete globally.
乌鸦传媒淲e will be non-competitive even if the dollar continues to fall 乌鸦传媒� it乌鸦传媒檚 a significant challenge.乌鸦传媒�
Heather Webber, a cross-border transactions specialist at MNP, said that while U.S. trade has always been Canada乌鸦传媒檚 easiest option, businesses now have a chance to look elsewhere.
乌鸦传媒淣ow there乌鸦传媒檚 an opportunity to sell across the country or acquire something from across the country乌鸦传媒� there might be a chance for us as a country to make ourselves more resilient,乌鸦传媒� she noted.
UBCO economics professor Ross Hickey pointed out that while tariffs affect the flow of goods and services, they also impact investment.
乌鸦传媒淎nd I think that乌鸦传媒檚 what we乌鸦传媒檙e leaving out of this discussion of tariffs, retaliatory tariffs, we乌鸦传媒檙e forgetting that the big issue is are we making ourselves attractive for investment.乌鸦传媒�
For Nick Arkle, CEO of Gorman Group, the trade war乌鸦传媒檚 biggest impact is on the company乌鸦传媒檚 employees.
乌鸦传媒淭hey乌鸦传媒檙e the ones, in the last couple of days, have come to me and said 乌鸦传媒檚hould we cancel summer holidays乌鸦传媒� and 乌鸦传媒榳ill we able to pay the mortgage on our houses.乌鸦传媒櫸谘淮綕 he added. 乌鸦传媒淭hat乌鸦传媒檚 when you realize this is real.乌鸦传媒�
Arkle also challenged claims from American politicians that the U.S. doesn乌鸦传媒檛 need Canadian lumber.
乌鸦传媒淎bout 23 per cent of their needs come from Canada, and about half of that would come from B.C. That乌鸦传媒檚 significant.乌鸦传媒�
He also pointed out that for the 乌鸦传媒渋mmediate expansion乌鸦传媒� of commercial logging on U.S. federal lands, which could shake up the industry even further.
乌鸦传媒淚 think what we乌鸦传媒檙e going to see is one of these powers being stretched to open up national forests in the United States as well,乌鸦传媒� Arkle said.
On March 4, the federal government announced 25 per cent tariffs on $155 billion worth of U.S. goods. The first wave乌鸦传媒攈itting $30 billion worth of imports乌鸦传媒攖ook effect immediately. If U.S. tariffs remain in place, Canada will expand its countermeasures to the full $155 billion.
