Looming Trump tariffs a serious concern but also an opportunity for unity

As the U.S.-opposed tariffs have turned from a threat to a reality, there remain many questions about just how badly it will impact the Canadian economy and what it will do to Canadians.

Most economists and business leaders agree it’s going to hurt.

The federal and provincial governments have bounced around a number of potential retaliatory measures but again, the implementation and effectiveness remain to be seen.

“I think the average person should be very worried about it.” said Greg Durocher, President/CEO Cambridge Chamber of Commerce. “They need to make very sure that they voice their opinion to their elected officials. That the first and foremost thing that elected officials need to understand in the economy needs to be number one.”

Durocher goes on to say, “politicians don’t have a penny to spend if there isn’t a business transaction happening somewhere. That’s the only way the government gets money is through taxation and if there is no business going on, there is no money coming in.”

He says without a robust economy, governments can’t pay for the services citizens demand.

Ian McLean, President/CEO, Greater KW Chamber of Commerce says the government needs to use this situation as a wake-up call and move away from our trade reliance on the U.S.

“We need to utilize the markets we already have. We have free trade agreements with Europe and other places around the world. We need to expand those markets because what is evident here is we cannot rely on the United States. They will always be our biggest trade partner but we’ve got to mitigate being so dependent on one partner.”

But, McLean believes this crisis will ultimately lead to a stronger country.

“I actually think Canada is in a weird and unique way,” he said. “Donald Trump will have done more for most of the country coming together. The polling is showing Canadians are prepared to understand this is going to hurt. That we need to support folks. But, people are prepared to say we can’t roll over for this clown.”

When they were asked about the impacts of tariffs on Waterloo Region, both McLean and Durocher were in agreement that the manufacturing sector will feel it most. They said there could be layoffs and production slowdowns, so any response from any level of government must consider all industries and not prioritize one over the other, or some Canadians are going to be left behind.