P.E.I. ready to do 'whatever it takes' to help Island exporters weather tariff storm, says Compton
Province doubling its trade missions in an effort to find export markets outside U.S.
Government officials and businesses breathed a sigh of relief when Canada was spared from U.S. President Donald Trump's latest round of tariffs, but P.E.I.'s premier says the province won't be resting on its laurels.
As it has every day of this spring sitting of the legislative assembly, the trade war between the two countries came up during question period Thursday.
Premier Rob Lantz said the province is continuing to help Island exporters hunt down new markets for their products.
"We're doubling our trade missions abroad, and that's a start. I spoke with other premiers this morning. That is a measure most of them are taking," Lantz said in the legislature in response to questions from Opposition Leader Hal Perry.
Trump hit dozens of countries around the world with new tariffs Wednesday, though Canada was spared from any further levies. Tariffs on Canadian-made vehicles, steel, aluminum and energy remain in place.
In response to Trump's "Liberation Day," Prime Minister Mark Carney imposed a matching 25 per cent tariff on U.S.-made vehicles sent to this country.
Lantz said he had a "sobering" but useful conversation with Carney and Canada's other first ministers Thursday morning.
The premier said most exports from P.E.I. to the United States are compliant with the Canada-U.S.-Mexico trade agreement, known as CUSMA, and would not be subject to any imposed tariffs — at least not yet.
Still, he said, some industry leaders are reluctant to move away from doing business in the United States because they've enjoyed such a close relationship with their American counterparts for so long.
"They go to their kids' weddings, they stay at each other's homes. There's long-standing friendships and business relationships that people aren't easily willing to let go," Lantz said after question period.
"I don't think that needs to happen at this point, but I think everyone realizes that it's in our own best interest to look at new markets."
Numerous trade missions planned
Back in the legislature, Perry pressed Economic Development, Innovation and Trade Minister Darlene Compton for details about how exactly the province is diversifying its trade markets.
"We have to diversify and we have to do so quickly. How much money will this government invest in the upcoming budget into the immediate identification of alternative markets?" Perry asked.
Compton said the government is doing "whatever it takes" to find new countries and provinces for P.E.I.'s exports, rattling off a list of trade missions provincial staff have already gone on, and ones that are upcoming:
- Paris
- The Netherlands
- Montreal
- Indonesia
- Philippines
- Boston
- Italy
- France
- UK
- Australia
- Singapore
- Malaysia
- Vietnam
- Bahamas
- Mexico
- Vancouver
- Calgary
- Germany
- Toronto
- Thailand
- Cambodia
- Spain
- Holland
Afterwards, Compton also provided more details about supports to help Island exporters find those new markets.
The province is providing grants of up to $32,000 per business through its export enhancement and diversification fund. The cash can help them attend trade missions, do market research or bring a potential buyer into the province for a site visit.
She had no details on how many have applied for that funding, but said 72 companies have filled out a survey to indicate interest in the grants.
For now, Lantz said the other measures already put in place, like the removal of U.S. alcohol from liquor store shelves, will continue in this province.
The government is also working to finalize a bill that removes interprovincial trade barriers, which the premier said should be introduced in the legislature early next week.
ABOUT THE AUTHOR
With files from Stacey Janzer