Finance ministers talk trade as feds told to ‘look before you leap’ on tariffs

Finance Minister Bill Morneau is meeting with provincial and territorial finance ministers in Ottawa on Tuesday.

Finance ministers from across the Canadian federation are meeting in Ottawa today to explore a number of challenges weighing on their economies — with a particular focus on the intensifying trade dispute with the United States.

The twice-yearly gathering of finance chiefs comes just days before Canada is set to impose retaliatory tariffs on U.S. products. The federal government’s move, a tit-for-tat response to the Trump administration’s stinging tariffs on steel and aluminum imports, will take effect Sunday.

The federal, provincial and territorial governments have maintained a common front in dealing with U.S. Donald Trump’s protectionist policies, which includes the difficult renegotiation of the North American Free Trade Agreement.

Manitoba Finance Minister Cameron Friesen says it’s important for Canada to stand its ground and to speak with one voice on the tariff dispute.

Related: Kelowna boat retailers worry about tit-for-tat tariffs by U.S. and Canada

Related: Trudeau says he can’t imagine Trump damaging U.S. by imposing auto tariffs

But when it comes to retaliatory measures, Friesen is urging the feds to look before they leap to ensure they’re not unduly exposing Canadian businesses to risks.

Quebec Finance Minister Carlos Leitao says he’s keen to discuss possible fiscal measures to support businesses affected by the U.S. tariffs and to reassure firms that Canada is a safe and profitable place to invest.

“The key issue in this possible trade war is investment decisions,” Leitao said before the meeting. “Firms are delaying or postponing investment decisions.”

The finance ministers will also hear a presentation on the Canada-U.S.. relationship from Ottawa’s envoy in Washington, David MacNaughton.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

In Our Opinion: Crosswalk improvements are coming

Prince Rupert’s mayor announced the province is finally investing in pedestrian safety

Organizing a race is like running a marathon

New respect for all race organizers after putting together the 13th Northern View Cannery Road Race

Volunteers help North Coast bald eagle spread its wings

After healing at the Prince Rupert Wildlife Shelter the bird was released at Rushbrook

Hatching a plan for Prince Rupert’s salmon

Prince Rupert Salmonid Enhancement Society Annual General Meeting open to all on Sept. 20

Anglers furious over VIP fishing trip

DFO, SkeenaWild both investigating legality of FN research licence to fishing party

VIDEO: B.C. deer struggles with life-preserver caught in antlers

Campbell River resident captures entangled deer on camera

Delivering the paper as a family

The Northern View is looking for newspaper carriers in Prince Rupert, join our team today

Still too many B.C. seniors in care facilities, on drugs

Seniors Advocate watching use of antipsychotics, opioids

Officials: 3 killed in shooting at Maryland Rite Aid centre

FBI described the Aberdeen incident as an ‘active shooter situation’

The hunt for online herb: feds seek dope on hazy world of pot’s ‘cryptomarket’

In less than a month, Canada to be first industrialized country to legalize recreational marijuana

Despite protests, Russia’s anti-doping agency reinstated

On a 9-2 vote, the executive committee declared RUSADA as having satisfied conditions

The longest week: Carolinas worn out by Florence

Frustration and sheer exhaustion are building as thousands of people wait to go home seven days after the storm began battering the coast.

Vancouver councillors move ahead with policy for duplexes on detached home lots

Mayor Gregor Robertson says the decision is another step toward adding homes in the city for the so-called “missing middle.”

Canada’s goal is to play in a medal game at World Cup in Spain

The 2014 women’s world basketball championships were a coming out party for Canada.

Most Read