Since US President Donald Trump took office earlier this month, Saskatchewan, and all of Canada, has been on pins and needles wondering if a 25 per cent tariff will be slapped on Canadian exports to the US. Initially, the tariff was going to be applied on the first day of the President’s term, however the deadline was moved to February 1st following an investigation into trade practices.
According to recent stats, Saskatchewan has a 40 billion dollar trade balance with the United States with 55 per cent of the province’s exports going south of the border. In addition, there is an estimated 28 billion dollars in the movement of products per year to the US, much of that in the energy and agriculture industries.
“We have an incredibly huge integrated system that’s evolved throughout North America, which also includes Mexico, explained Saskatchewan Minister of Trade and Export Development Warren Kaeding.
(Pictured: Warren Kaeding, Minister of Trade and Export Development. Picture from Government of Saskatchewan)
Over the past several weeks elected officials at both the Federal and Provincial levels have been lobbying politicians and decision makers in the US to avoid tariffs by highlighting the importance of trade between the two countries and how tariffs could impact prices on important items American’s use.
“I think we need to understand the level of tariffs that would be implemented and then I think the work comes in trying to get those removed, reduced, and eliminated as quickly as possible,” predicted Kaeding, should tariffs be imposed this weekend.
What else is Saskatchewan doing to mitigate risk and who are Saskatchewan officials talking to? Listen to our interview with Warren Kaeding below:
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