The Surrey Board of Trade is deeply disappointed in the United States’ announcement that 25% tariffs on Canadian imports and 10% tariff on energy will take effect on Tuesday, February 4. The President has decided to not only tarnish the historic and deeply interconnected relationship that Canada and the United States have had, but to also increase costs for his residents.
“Canadian businesses have weathered economic storms before, and we will do so again,” said Jasroop Gosal, Interim Spokesperson and Policy & Research Manager at the Surrey Board of Trade. “This is a moment for businesses to innovate, strengthen domestic supply chains, and explore new global markets; and for Canadians to prioritize spending on Canadian goods. The Surrey Board of Trade is here to support businesses in navigating these changes, but federal and provincial investments will be key.”
To understand the full impact of these tariffs on local businesses, SBOT has launched a survey to gather insights and develop targeted policy recommendations. Surrey and White Rock businesses are encouraged to participate to ensure their voices are heard in advocacy efforts with all levels of government.
The U.S. remains Canada’s largest trading partner, and these tariffs will undoubtedly increase costs, disrupt supply chains, and challenge competitiveness.
“Donald Trump’s decision to impose only a 10% tariff on energy signals an awareness of the United States’ reliance on Canada. This dependence presents Canada with strategic leverage to ensure Trump fully grasps the extent to which the U.S. economy relies on Canadian resources.”
CALL TO ACTION:
The Surrey Board of Trade calls on the federal and provincial governments to:
- Protect businesses by halting all taxation changes that would deter business growth;
- Immediately freeze all regulatory changes on industry that would add cost and red tape; and,
- Implement a strategic plan to ensure that businesses in the South Fraser Economic Region, which are particularly vulnerable to these tariffs as a result of the industries and proximity to the border, are provided with greater international trade support through the Surrey Board of Trade’s International Trade Centre.
The BC Government has:
- Directed the BC Liquor Distribution Branch to immediately stop buying American liquor from “red states” and remove the top-selling “red-state” brands from the shelves of public liquor stores.
- Directed the BC Government and Crown corporations to buy Canadian goods and services first.
The Prime Minister has indicated the following trade retaliations:
- 25% tariffs against $155 billion worth of American goods, including immediate tariffs on $30 billion worth of goods Tuesday, and a further $125 billion in 21 days to allow Canadian companies and supply chains to seek to find alternatives. These tariffs will be wide-sweeping and including consumer goods and input goods such as lumber.
- Critical minerals, energy, procurement, and other partnerships will also be affected.
“The Surrey Board of Trade stands ready to support our business community and all levels of government to ensure that we are protecting the economy and the livelihoods of our communities.”
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Jasroop Gosal
Interim Spokesperson & Policy & Research Manager
Surrey Board of Trade
604-634-0345 | jasroop@businessinsurrey.com
