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

Big wrestling from a small town

Aaron Roubicek wants to put Prince Rupert on the map at the BC Summer Games

WEB POLL: Are you guilty of foodwaste at home?

B.C. food retailers are trying to change people’s behaviour to reduce food waste

Bear Creek continues $14.5M civil suit with Brucejack Mine owner

The Terrace-based company is looking for damages for unpaid work as it continues Highway 16 work

Ford F350 bursts into flames on Highway 16

Driver on way to Terrace when incident occured

Suspect responsible for police standoff faces five criminal charges

The 47-year-old male had his first court appearance in Prince Rupert and remains in custody

This Week Podcast — Episode 94

Police standoff, Ridley Terminals plans to expand, a community garden and more in Prince Rupert

Newspaper carriers wanted!

Contact The Northern View today to find out how you can become a part of our team

BC Wildfire update on Okanagan blazes

Watch the media briefing on the current fire situation in the Okanagan.

UPDATED: Evacuation alert issued due to Dog Creek Trail Wildfire

UPDATED: The Dog Creek wildfire has grown substantially over the past two… Continue reading

RCMP help to save goats from wildfire

The fast-approaching wildfire, sparked Thursday, forced the evacuation of five homes

VIDEO: Near drowning captured on popular B.C. river

Search and Rescue manager says the popular pastime of floating in the summer is inherently dangerous

Crosswalk vandalism leaves black mark for Cowichan as B.C. Games begin

Rainbow crosswalk defaced just days after being painted

Photo gallery: BC Games Day 1

A brief look at action from the 2018 BC Summer Games in the Cowichan Valley

UPDATED: Anti-pipeline campers digging in as eviction deadline expires

The City of Burnaby had ordered the Kinder Morgan pipeline protesters out for violating bylaws

Most Read