Premier David Eby warns that U.S. tariffs could severely impact B.C.’s economy and jobs

Victoria: If President Trump follows through on his tariff threats, British Columbia could be in big trouble. This was the hot topic during a recent meeting between the premiers and Prime Minister Trudeau.
Premier David Eby didn’t hold back, saying Trump has been waging “economic war” on Canada. He emphasized that this is a serious threat and shared insights on how it could impact British Columbians.
Eby pointed out that while American families would feel the pinch, B.C. would also face significant challenges. The finance minister has been crunching numbers since the tariff talk began, aiming to prepare the province for what’s ahead.
Brenda Bailey, the finance minister, mentioned that if a 25% tariff is imposed, it could lead to a staggering loss of $69 billion for B.C. between 2025 and 2026. She noted that forecasting these scenarios is tricky due to the uncertainty surrounding U.S. policies.
B.C. relies heavily on exports, with over half going to the U.S. Key exports include softwood lumber and natural gas. While the province has some trade diversity, the proposed tariffs would still hit hard.
Bailey warned that the tariffs could slow B.C.’s GDP by about 0.6% each year in 2025 and 2026. Plus, around 124,000 jobs could vanish, especially in industries tied to exports and natural resources.
Job losses would affect sectors like forestry, mining, and retail. Investment in local businesses would drop, leading to lower corporate profits and a significant hit to the province’s revenue streams.
Eby described the situation as “economic wartime,” stressing the need for a united front to protect jobs and livelihoods. He’s all in for a federal response to these proposed tariffs.
Stay tuned for updates on this developing story, and don’t forget to check out CityNews for the latest news.