Last-minute pause delays 50% U.S. tariff implement on Canadian goods, still no resolve

No finalized agreement has yet to be publicly released.

Venture Kamloops says the continued theme of uncertainty creates costs for businesses making long-term investment decisions.

“We have local businesses who have been uncertain about what is going to happen since the beginning of the current U.S. administration,” says Jim Anderson, the executive director of Venture Kamloops.

For companies in debate on expanding or opening in Canada, unpredictable access to the American market could make setting up south of the border look significantly safer.

“You would hope that whatever companies are faced with, they make a responsible business decision at the end of the day. It may come to that. For some businesses, that is not helpful to the economy of Canada.” adds Anderson.

Kamloops-North Thompson Conservative MLA Ward Stamer says B.C.’s struggling forestry sector cannot afford another financial blow.

“Any new tariffs are certainly not welcome in British Columbia’s forest industry,” says Stamer. “We’re looking at between 35 and 40 per cent. We can’t afford to keep working like that.”

“Higher cost of production export back to Canada costs the consumers more. This is a no win situation for everyone.” says Anderson.

The pause is set to expire Aug. 21, leaving businesses waiting to see whether the threatened tariff will take effect, or if a finalized trade agreement will emerge out of conversations.

by Jeremy Russo

Last-minute pause delays 50% U.S. tariff implement on Canadian goods, still no resolve

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