Choose Local: Economic experts say supporting Atlantic businesses key to navigating tariffs

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How tariffs will impact local businesses

Tariffs and independent business

Atlantic Canadians returned to work Monday amid uncertainty following Trump’s announcement that he would impose his long-promised tariffs on Canadian imports. The announcement was followed by retaliatory tariffs from the federal government and the removal American products from retail shelves.

Rhonda Tulk-Lane is the CEO of the Atlantic Chamber of Commerce. She told CTV’s Amanda Debison that Saturday was a “dark day for trade” marking a break in trust with our American allies. She said the chamber has been monitoring the situation since President Trump’s tariff announcement and they are unified with the premiers of the Atlantic provinces.

“Right now, Canada has one job and that’s to build a more resilient economy that provides certainty and security for all Canadians,” Tulk-Lane said. She outlined three actions the chamber is taking to contribute to that goal:

• call to all three levels of government to remove internal trade barriers
• help small businesses across Atlantic Canada diversify their markets using tools available through the chamber such as the Market Entry Development Program
• calling on consumers to shop at and support local businesses.

Tulk-Lane said there are approximately 100,000 Atlantic Canadian jobs that could be impacted by the tariffs.

“We’re looking at minerals and fisheries of course when we think about Atlantic Canada,” Tulk-Lane said. “So right now we to focus on the ones that are going to feel the impacts right away.”

Tulk-Lane said fisheries would probably be a “number one priority” for all Atlantic Canadians.

Duncan Robertson is the Nova Scotia Director of Legislative Affairs with the Canadian Federation of Independent Business (CFIB) representing 4,200 small businesses in Nova Scotia. He told CTV’s Crystal Garrett that direct and indirect costs from tariffs and a weaker Loonie are threats to businesses, especially in the aftermath of the COVID-19 pandemic.

“A lot of small businesses don’t have that ability to absorb increased costs,” Robertson said. “Having to pass it on to consumers is the last option they want to do but if they do it will impact their ability to attract consumers.”

Robertson reiterated the importance of supporting local, especially during economic crisis. He said 66 cents of every dollar spent at a small business stays in the local economy.

“We hope the overall economic impact isn’t as high as it was in COVID but really important for consumers to be mindful and support local whenever they can,” Robertson said.

On Saturday Premier Tim Houston announced Nova Scotia’s retaliatory measures against the tariffs, including limiting American procurements, increased tolls at the Cobequid Pass and the removal of American liquor from store shelves.

Premier Dennis King announced Saturday that Prince Edward Island would join Nova Scotia in limiting procurements and commerce with the U.S. and removing liquor.

New Brunswick Premier Susan Holt released the province’s tariff response on Monday. It includes opportunities to support workers and entrepreneurs while limiting procurements and strengthening interprovincial trade.

“These are all different types of pieces of the puzzle.,” Tulk-Lane said, “but I think with all of them collectively together we will see an impact.”

Tulk-Lane said the most important thing is that Canadians meet the moment together with support from the federal government.

Robertson said access to support for small businesses will be key to their survival alongside the elimination of internal trade barriers and an estimated $18 billion worth costs in of red tape.

“In times of crisis there are always these opportunities particularly we see around interprovincial trade.”