Area chamber leaders are weighing in on tariff concerns – calling this the most urgent threat facing Canadian and American businesses today – following new data suggesting the United States’ proposed tariffs would come at a “huge economic cost.”
And local communities such as the Quinte region won’t be immune, the new modelling from the Canadian Chamber of Commerce’s Business Data Lab indicates. The same analysis also shows the Belleville-Quinte West area as the 11th “most exposed” community to U.S. President Donald Trump’s proposed tariffs.
According to area officials, data shows “these tariffs would come at a huge economic cost, reducing real annual income by $1,900 CAD per Canadian and $1,300 USD per American.”
“This is (a) complicated and fluid situation and the ultimate impact for Canada’s local economies from these tariffs is highly uncertain,” noted Quinte West Chamber of Commerce CEO Suzanne Andrews. “To see the Belleville Quinte West CMA listed as the 11th most vulnerable community across Canada to the impact of these tariffs is surprising to many.”
Meanwhile, Andrews noted that locally 114 exporters have more than 80 per cent of their products going to the U.S. This 1.7-billion worth of goods accounts for more than 27 per cent of local GDP, or $14,294 per capita, explained Andrews.
“The economic damage done to our community from the tariffs depends heavily on how long these tariffs are in place or threatened,” continued Andrews.
In a recent chamber release, it states to empower Canadian and American businesses and stakeholders working hard to grow “our best-in-class trade relationship,” the business data lab launched its “Canada-U.S. trade tracker.”
It’s described as an interactive and customizable online tool, highlighting “deep and vital economic interconnections” at the state, provincial, territorial and now 41 Canadian Census Metropolitan Areas (CMAs) levels.
“The regional impact at 27 per cent is significant but grows to nearly 50 per cent GDP for the City of Belleville,” noted Belleville Chamber of Commerce CEO Jill Raycroft. “While we continue to see investments in new businesses and expansion for existing plants, tariffs are a real area for concern.”
Cracking the top three in the analysis nationwide were: Saint John, N.B., Calgary, Alta., and Windsor, Ont.
Meanwhile, if zeroing in on the Ontario cities most threatened, following Windsor was the Kitchener-Cambridge-Waterloo area, Brantford, Guelph, Hamilton, and then Belleville-Quinte West. The ranking of cities’ vulnerability to U.S. tariffs provides a “tariff exposure index” for the largest 41 cities.
In terms of the provinces described most at-risk, they include New Brunswick, Alberta, Ontario, Quebec and British Columbia (these provinces are home to 20 CMAs considered most vulnerable due to reliance on exports and dependence on the U.S. as a key export market.)
The modelling reportedly estimates that the tariff will impose the steepest hit for the value of energy exports, which is why the highest vulnerabilities are detailed in Saint John and Calgary.
Overall, Canada is considered the largest export market for 34 U.S. states – stretching all the way south to Mississippi and Florida, “with each province and territory having its own special trade relationship with many American states.”
Chief economist at the Canadian Chamber of Commerce Stephen Tapp called tariffs a “lose-lose.”
“They would raise business costs, reduce North America’s international competitiveness, and ultimately increase consumer prices at a time when Canadians and Americans are both struggling with significant affordability challenges,” said Tapp.
In another release, Tapp also stated that with this analysis, Canadians, businesses and policymakers should have more evidence to inform ongoing discussions about how best to respond to the “unnecessary and unjustified U.S. tariffs.”
In a separate advocacy update from the Quinte West chamber, officials stated this analysis is further reason for Canadian leaders to unite and swiftly implement a multi-partisan, “all-in” plan addressing urgent economic challenges, as previously called for by Canadian Chamber of Commerce CEO and President Candace Laing.
“The looming tariff threat is still very real – we have to remain vigilant and brace for impact,” said Laing, in an earlier release following research results. “Already, we’ve heard from members across Canada how the threat of tariffs is disrupting local businesses and economies.
“This new data further emphasizes that this is not a game we want to play when so many livelihoods depend on a stable relationship with the U.S.”
(Written by: Sarah Hyatt)
