Editor’s Notice: This story was written previous to the late afternoon announcement that tariffs are being paused for 30 days.
The Sarnia-Lambton Chamber of Commerce is urging native companies and customers to stay assured in our Canadian financial system within the wake of U.S. tariffs imposed on items coming from Canada.
Board Chair Nicole Crosby mentioned our provide chains are so deeply built-in, you possibly can’t unwind them in a single day.
“They’re built-in not just because we’re neighbours, however as a result of it is sensible financially for each companies and customers on each side of the border,” mentioned Crosby. “That being mentioned, it is nonetheless too early to gauge the native response and the consequences. We’ll be ready and monitoring to see how issues unfold over time and mainly to evaluate the total influence as companies start to regulate.”
After the U.S. imposed tariffs have been introduced, the Canadian greenback dropped to 68.20 cents U.S. Monday morning – its lowest degree since 2003.
Crosby mentioned they’ve but to obtain native issues.
“Usually, with a lowering greenback, we could begin to see extra folks supporting native companies and likewise staying nearer to residence,” she mentioned.
Crosby thinks we might see extra shops promoting Canadian-made objects, as some began doing over the weekend.
“I feel it’s essential to assist native companies and our financial system. I feel it is also going to be necessary to assist all points of companies the place they depend on both imported items or supplies and even people who export primarily to the U.S.,” Crosby mentioned.
Prime Minister Justin Trudeau mentioned Canada will probably be imposing its personal 25 per cent tariffs on American items beginning Tuesday, the identical day Ontario Premier Doug Ford has ordered the elimination of American liquor from LCBO shops.
American alcohol is marked with an X for elimination from LCBO shops in Ontario in retaliation to U.S. imposed tariffs. February 3, 2025 Blackburn Media photograph by Stephanie Chaves.
Ford additionally introduced Ontario is “ripping up” a $100 million cope with Elon Musk’s Starlink within the wake of the U.S. imposed tariffs.
Crosby mentioned the retaliatory measures by Ford come as no shock.
“He had been very vocal in what his intentions may very well be and could be if this came about, so I do not suppose it is shocking,” Crosby mentioned. “I feel he is following via with what he had initially indicated.”
General, Crosby mentioned the state of affairs is altering moment-by-moment, day-by-day, and minute-by-minute.
“It’s nonetheless early and issues are altering quickly and regularly. I feel the largest factor proper now’s to stay assured in our Canadian financial system and our Canadian authorities and know that, as a chamber, we’ll be right here to actively present the sources and assist our native companies and assist everyone navigate modifications,” Crosby mentioned.
