Agassiz sawmill faces recession

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tariff situation

vancouversun

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Business

Business & Economics

B.C. sawmill owner fears potential recession after imposition of U.S. tariffs

Summary

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60% Informative

Prime Minister Justin Trudeau has imposed counter tariffs on $30 billion worth of U.S. goods in response to Trump 's 25 per cent tariffs on Canadian imports.

B.C. forest industry could be hit hard by the retaliatory tariffs.

The province could lose as many as 45,000 jobs and $43 billion in GDP in a trade war.

The battle will cost British Columbia consumers, too, who will likely first be stung by the tariffs.

“There are no silver linings to the current trade war environment,” says chief economist for Central 1 Credit Union .

The impact would be more severe in Ontario than B.C. , which has a more diverse portfolio of trading partners, Yu said.

“It is going to be damaging,’ he said.

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semi-formal

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