Quebec meeting business leaders to discuss potential U.S. tariffs
Posted December 13, 2024 3:28 pm.
Last Updated December 13, 2024 3:47 pm.
The Quebec government says they’re meeting with provincial business leaders to talk about the possible 25 per cent tariffs U.S. President-elect Trump has threatened to impose.
Economy Minister Christine Fréchette held roundtable discussions this week with some 30 Quebec companies and business associations on this, and there will be more talks coming.
“There is a lot at stake. Should any tariff be imposed because many of our businesses export in the U.S. Some of them export only in the U.S. and so one of the recommendations we are making to all businesses is to consider exporting in other countries and the rest of Canada also – it’s important to be there and develop our commercial links with that region,” explained Fréchette.
Friday morning, Fréchette was at Investissement Québec’s head office in Montreal with the CEOs of major companies for another roundtable.
Quebec is looking to see how to protect jobs, and how businesses can develop in other markets.
One of the recommendations we are making to all businesses is to consider exporting in other countries and the rest of Canada also – it’s important to be there and develop our commercial links with that region,” Fréchette explained.
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“But of course, our plan A remains not to have any tariffs and we want to make sure Americans understand what would be the impact should they go ahead with tariffs. The clear impact would be that Americans would pay more for the goods they are importing from Quebec and Canada. We have to make sure that Americans understand that, that the administration understands that, and that American partners diffuse that message to their leaders.”
According to the province, the United States is a leading destination for many Québec exports.
In 2023, around 73.6 per cent of Quebec’s merchandise exports — which is worth around $83.7 billion — went to the U.S.
Additionally, 96 per cent or $9.8 billion of Quebec’s aluminum exports, 69 per cent or $11.1 billion in Quebec’s aerospace exports, 83 per cent or $8.2 billion of forestry exports, and 68.5% or $8.1 billion of agri-food exports all were destined for the U.S.
“In fact we have made important progress this week because we have been discussing with more than 30 important businesses or business associations, and my administration is currently having phone calls with more than 100 businesses that could be impacted by the imposition of tariffs so we are getting a clearer idea of what could happen should tariffs be imposed at the border by the American administration,” said Fréchette.
“But our plan is to have no tariff at all of course, so we are asking the federal government to put more resources at the border, we need more people there, more technology, to make sure there are no more illegal people that go from Canada to the US by unofficial ways. This is our plan A and we are focusing on that but we are preparing for different impacts should the administration, the Trump administration go ahead.”
These roundtable discussions follow the recent creation of the Quebec-United States ministerial working group last month, in which Fréchette is a part of.
The committee also includes ministers Christopher Skeete, Martine Biron, Eric Girard, Maïté Blanchette Vezina, André Lamontagne, François Bonnardel and Jean-François Roberge.
They are set to meet regularly and consult with businesses, associations, and experts to provide advice on the various issues related to the province’s trade relationship with the United States.