Here's the latest as the U.S. imposes tariffs on goods from Canada and Mexico

At a news conference in Ottawa, Prime Minister Justin Trudeau outlined Canada’s response. He said Canada is immediately introducing 25 per cent retaliatory tariffs on $30 billion worth of American products, and will expand them to cover another $125 billion in U.S. goods in 21 days. 

Here’s the latest news (all times eastern):

—-

9:20 p.m.

Fans in Edmonton loudly booed The Star-Spangled Banner at Rogers Place before the Oilers’ game against the Anaheim Ducks. 

Some in the crowd also yelled out anti-Donald Trump sentiments during the anthem. 

The crowd then joined together to sing O Canada. 

Similar vocal protests have been staged at sporting events across the country following Trump’s announcement of tariffs and musings about Canada becoming the 51st state.

—-

8:40 p.m.

The country’s energy and mines ministers say they hope to keep Canadian companies competitive in the face of U.S. tariffs with measures that include the acceleration of resource development through more efficient and timely permitting and regulatory processes.

Ministers from across the country met today in Toronto at the Prospectors and Developers Association of Canada to discuss the tariffs.

The ministers say in a joint statement that accelerating development will help Canada meet global demand for critical minerals.

The statement was signed by cabinet ministers from every province and territory, along with the federal minister of energy and natural resources. 

—-

8:20 p.m.

U.S. Commerce Secretary Howard Lutnick called Doug Ford today after the Ontario premier held a news conference where said he warned New York, Michigan and Minnesota that he would apply a 25 per cent surcharge on energy exports if the tariffs persist. 

Ford’s office confirmed that Lutnick asked the premier to back down — but he refused as long as the tariffs remain in effect.

Ford has threatened to cut off power altogether if they remain into April.

—-

7:35 p.m.

Liberal leadership candidate Mark Carney says at a press conference in Calgary that a government under him would give the proceeds from Canada’s counter-tariffs to workers most affected by “unjustified” American tariffs. 

Speaking at a press conference in Calgary, Carney said there are several responses that can be taken, including the counter-tariffs announced by the federal government today as well as “many other options” with respect to Canada’s resources, including energy. 

He says it wouldn’t be appropriate for him to “pre-commit to anything” but that nothing should be taken off the table. 

Carney says the situation is “fluid” and that Canada has to focus on its own economy and building new trade corridors across the country. 

—-

6:30 p.m.

When asked in an interview on CBC if she has spoken to anyone from the U.S. administration since the tariffs came into force, Foreign Affairs Minister Mélanie Joly said she has plans to speak with Secretary of State Marco Rubio at noon Wednesday. 

Earlier today, U.S. Commerce Secretary Howard Lutnick said “the Mexicans and the Canadians” were on the phone with him “all day” to show that they’ll “do better” on the border.

Joly says she hasn’t heard about the U.S.‘s plans to meet Canada in the middle in terms of tariffs, as implied by Lutnick. 

—-

6:20 p.m.

Northwest Territories Premier R.J. Simpson calls U.S. President Donald Trump’s decision to impose tariffs on Canadian goods short-sighted and harmful.

He says the territory shouldn’t have to bear the consequences of what he calls a reckless trade decision.

Simpson promises to reinforce the N.W.T’s own economic resilience by no longer purchasing from the U.S.

He also demanded that the North be included in critical nation-building investments.

—-

5:40 p.m.

Manitoba Premier Wab Kinew says more countermeasures will be announced in the coming days if U.S. tariffs continue.

Kinew says there will be some measure planned to restrict U.S. companies from getting contracts with the provincial government.

Kinew is also leaving the door open to cutting hydroelectricity exports.

—- 

4:20 p.m.

Yukon Premier Ranj Pillai says the U.S. tariffs are “unjustified and short-sighted” and he hopes Alaskans will continue to visit the territory.

The territory has announced that the Yukon Liquor Corporation will stop placing orders for U.S.-made alcohol and remove American products from all Government of Yukon liquor stores.

Pillai says the government is spending $1 million to develop an assistance program for businesses that will complement federal supports and that procurement policies are being changed to encourage the purchase of more goods from local businesses and non-U.S. companies.

“The United States is our most important trading partner and Canada’s closest friend and ally, but this is not how you treat your friends,” Premier Pillai says in a media statement. “To our friends and family in Alaska: our lives and economies are interconnected, and we hope you will continue to visit our territory and experience all that it has to offer.”

—-

4:10 p.m. 

U.S. Commerce Secretary Howard Lutnick says on Fox Business that he thinks Trump will meet Canada and Mexico “in the middle” on tariffs, with an announcement likely to come Wednesday.

Lutnick says he thinks Trump is “going to think about” the free trade agreement between Canada, the U.S. and Mexico.

He adds that Canada and Mexico “gotta end fentanyl death.” 

Lutnick also says the reciprocal tariffs planned for April 2 could affect Canada and Mexico.

—-

3:50 p.m.

Saskatchewan Premier Scott Moe says U.S. President Donald Trump is “wrong” to impose punishing tariffs on Canadian goods.

Moe says Trump is incorrect when he says the United States does not need Canadian products, adding Americans do need fuel and fertilizer from Canada.

The premier says the sweeping tariffs will drive up the cost of oil, potash and uranium, resulting in job losses and higher grocery costs for American families.

Moe adds Canada’s countermeasures need to be “economically sound and reasoned” and that Saskatchewan is considering how it will respond.

—-

3:40 p.m.

Inuit Tapiriit Kanatami President Natan Obed says the tariffs will cause more Inuit to face food insecurity.

Assembly of First Nations National Chief Cindy Woodhouse Nepinak says governments need to make sure no First Nations person is left behind.

Victoria Pruden, president of the Metis National Council, says the tariffs will compound longstanding economic gaps and any interprovincial trade discussions should take into consideration Indigenous Peoples.

—-

3:35 p.m. Forest Products Association of Canada president and CEO Derek Nighbor says that the broad-based tariffs are unjustified and break the terms of the Canada-U.S.-Mexico Agreement.

Nighbor says tariffs will damage a well-functioning integrated forest product supply chain that benefits Americans and Canadians. He says it will create business uncertainty while driving up costs for building materials and everyday household products for Americans.

Randall Zalazar, director of government relations at the Canadian Chamber of Commerce, says Canada has demonstrated a willingness to act quickly on areas identified by the Trump administration – giving the U.S. government enough to “call a win.” He says in a statement that the tariffs must be removed as soon as possible.

Zalazar says the federal and provincial governments must introduce “serious, substantial reforms to deliver on the promise of true internal trade.” He says it would improve consumer confidence and demonstrate Canada is open for business.

—-

3:30 p.m.

David Dienesch, CEO and chief agent at Allianz Trade in Canada, says the home building, food and auto sectors are likely to be immediately affected by the tariffs.

Companies that don’t have flexible contracts might have to absorb the cost of the tariffs, Dienesch says.

Dienesch says cash flow management is the “key to survival” for businesses in the short term and that having access to financing and finding local supply chain inputs will be critical due to the weakening Canadian dollar.

He says finding customers in Canada to replace U.S. customers is a good first step and businesses should push provincial governments to loosen interprovincial trade barriers.

—-

3:10 p.m.

The National Association of Federal Retirees warns that tariffs will disproportionally affect Canadians living on fixed incomes, including seniors.

The organization’s CEO, Anthony Pizzino, is calling for a “thoughtful” strategy that considers affordability impacts across generations.

—-

2:50 p.m.

The Canadian Live Music Association says it’s responding to U.S. tariffs with a new campaign to promote homegrown musicians and venues.

The music advocacy group says the “Canada is Live Music” campaign will celebrate the role live music plays as “a tangible lever that inspires solidarity and national pride.”

The campaign also will draw attention to music’s role as a driver of the economy and culture.

The CLMA says the campaign will urge stronger support of local artists and encourage tourists from outside the country to attend live music events in Canada.

—-

2:40 p.m.

The president and CEO of the Canadian Association of Petroleum Producers says Canada’s relationship with a longtime ally and trading partner has fundamentally changed.

Lisa Baiton says without greater global reach for oil and gas exports, Canada has little trade leverage with the United States.

She says Canada urgently needs a policy overhaul that would allow infrastructure projects held back by environmental opposition to move ahead.

—-

2:30 p.m. 

The Explorers and Producers Association of Canada says a 10 per cent levy on energy exports to the United States underscores the need for infrastructure to get Canada’s shipments to other markets.

The group, which represents conventional oil and gas producers, says the federal government should build “retaliatory pipelines” in response to the tariffs.

—-

2:30 p.m.

The CEO of Enbridge Inc. says tariffs would have to be in effect for a long time before they had any impact on where Canadian crude goes.

Greg Ebel says the 10 per cent levy on energy is unlikely to change his company’s strategy or outlook in the near term.

Enbridge transports almost two-thirds of U.S. bound Canadian oil exports and is the single-biggest Canadian shipper into that market.

Ebel says it’s important to take the emotions out of investment decisions and look at the underlying business case, which he says still supports strong Canada-U.S. ties on energy.

—-

2:15 p.m.

The United Auto Workers issues a media statement calling tariffs a “powerful tool” against anti-worker trade deals.

The union says it wants to see corporate America recommit to the working class and calls free trade a “disaster.”

They say they’re in active negotiations with the Trump administration and are looking forward to shaping the April auto tariffs to benefit the working class.

—-

2:00 p.m.

One Winnipeg-based craft brewery says buy-local initiatives in response to the tariffs are encouraging but offer only a short-term fix.

Kevin Selch, founder of Little Brown Jug Brewing Co., says customers start off with good intentions but their shopping habits change over time, especially as costs go up.

Selch says he is anticipating the tariffs will create a “huge chill” on the business.

While the brewery tries to source local products, they do rely on the U.S. for their machinery and the aluminum cans they use.

He says this could work out to a five to six cent increase per can – a cost that eventually will be passed down to the consumer.

—-

2:00 p.m.

NDP Leader Jagmeet Singh says Trump’s tariffs are probably the “worst economic attack on our country” and is calling for an emergency session of Parliament.

Talking to reporters, he says having leaders come together will send a message that Canada is united.

He’s also calling for government supports similar to those introduced during the pandemic, adding the tariffs’ economic impact may be worse than what Canada experienced during COVID-19.

—-

1:35 p.m.

Nunavut Premier P.J. Akeeagok says Canada’s North needs to be considered as the country pushes back against American tariffs.

He says in a media statement that Nunavut faces distinct economic and logistical challenges and the territory’s interests must be considered as Canada responds to the tariffs.

He says Nunavut doesn’t export to the U.S. but relies heavily on imports for essential goods and infrastructure.

Akeeagok says he stands with the federal government’s response and is encouraging residents to buy Canadian.

—-

1:21 p.m.

Quebec Premier François Legault says the province is moving to pull U.S. alcohol from its shelves and penalize U.S. companies that bid on its contracts in response to U.S. President Donald Trump’s tariffs on Canadian goods.

Legault announced today that the province will impose penalties of up to 25 per cent on bids by American companies who participate in public calls for tenders if those companies aren’t established in Quebec.

He’s also asking the Quebec liquor board to pull all American wine and spirits from liquor store shelves and to stop supplying those products to grocery stores, bars and restaurants.

—-

1:08 p.m.

The Manitoba government is letting businesses defer payments of two major taxes to help them deal with U.S.-imposed tariffs.

Premier Wab Kinew says businesses will be able to defer paying their provincial payroll and sales taxes for at least three months, starting with February’s payments.

He says that will protect jobs and let businesses keep cash on hand. Kinew says the deferral will be reassessed after three months.

—-

1:00 p.m.

U.S. retailer Target says there will be “meaningful pressure” on its profits to start the year because of tariffs on Mexico, Canada and China and other costs.

Target CEO Brian Cornell told reporters at its annual investor meeting Tuesday that shoppers likely will start seeing rising prices for produce like avocados, which come from Mexico, in just a few days.

Target reported its sales and profits slipped during the crucial holiday quarter as customers held back on spending.

—-

12:30 p.m.

Conservative Leader Pierre Poilievre says Canada needs to retaliate against American tariffs by targeting U.S. goods Canada can make, does not need or can obtain elsewhere.

Poilievre says Canada needs to cut taxes to counteract the domestic impact of tariffs and points to the carbon price, the capital gains tax and income tax.

He says almost all money collected from counter-tariffs should go to tax cuts, with a small sum set aside for the workers hit hardest by the trade war.

—-

12:25 p.m.

Restaurants Canada is asking the government to consider exempting a “limited number of specific food items and food packaging” from its retaliatory tariff response. It’s also urging the government to exempt all food from the sales tax.

It says that without those exemptions, prices will rise and there will be job losses in the food services industry.

Restaurants Canada says that if exemptions aren’t possible, the government could “soften the blow” by providing manufacturing credits, loosening regulations on packaging requirements for out-of-country products and rolling out a wage subsidy program.

—-

12:19 p.m. 

Alberta Premier Danielle Smith calls U.S. President Donald Trump’s tariffs an “unjustifiable attack” and a clear breach of the trade agreement he signed in his first term.

She says Alberta supports the federal government’s response and will announce the specifics of its own plan to fight back tomorrow.

She also said Canadian governments must work together to tear down provincial trade barriers, build pipelines, beef up military spending and strengthen trade ties with Europe, Asia and the Americas.

—-

12:10 p.m.

British Columbia Premier David Eby says Canada is compelled to respond to U.S. tariffs in a way that is “noticeable and significant for American families.”

He interrupted the B.C. 2025-26 budget lockup at the legislature in Victoria to announce the province is pulling liquor from Republican states off B.C. store shelves.

Eby says provinces and territories met the U.S. president’s initial demands when he brought up the issue of tariffs, specifically around fentanyl and the border, but it did not matter.

He says Canada will “never be the 51st state” and is encouraging B.C. residents to buy domestic products and avoid travel to the United States.

—-

12:12 p.m.

Ontario Premier Doug Ford says the province is ripping up its contract with Elon Musk’s SpaceX to provide Starlink internet service to remote areas.

“It’s done, it’s gone,” Ford told a news conference outlining Ontario’s response to U.S. tariffs, which includes removing American booze from LCBO shelves and banning U.S. companies from procurement contracts.

Ford says he will soon impose a 25 per cent surcharge on electricity that the province sends to 1.5 million Americans in several different states, and has threatened to cut off power altogether if U.S. tariffs remain place into April.

—-

12:18 p.m.

Workers installed a giant flag on the front of the Manitoba legislative building Tuesday morning.

The flag towered over the historic building’s main entrance and is expected to serve as a backdrop for a statement by Premier Wab Kinew later in the day.

The Manitoba government says it is pulling U.S. alcohol from government liquor stores. The NDP government recently launched a “buy Local” ad campaign.

—-

12:00 p.m.

Liberal leadership candidate Chrystia Freeland says Trump’s “illegal” and “unjustified” tariffs are an act of “self-mutilation” by the U.S.

She says that if she becomes prime minister, her government will support Canadian workers by using all money collected from retaliatory tariffs to help workers and businesses.

She also says she will build on her plan for 100 per cent tariffs on Teslas and again called for companies owned by Elon Musk, senior advisor to Trump, to be barred from receiving any current or future federal procurement contracts, subsidies or incentives.

—-

12:00 p.m.

Alberta Premier Danielle Smith says oil and gas producers in her province will have to look at ways to send more to global markets outside the United States.

She says she made a proposal to U.S. President Donald Trump to work together on North American energy dominance and would have loved to double the amount of crude flowing south.

She tells CNBC that if Americans don’t want our energy products, the rest of the world does.

—-

11:37 a.m.

U.S. Vice President JD Vance says the “underlying element” of the tariffs is the fentanyl issue.

He says the Trump administration thinks Canadians have not been “serious” about stopping the drug trade.

U.S. border patrol statistics say less than one per cent of the fentanyl the agency seizes is found at the northern border.

Vance says Canada has allowed the drug to come into the country and it is not a “defence to say more has come from Mexico because way too much has come from Mexico too.”

—-

11:30 a.m.

A gas price analyst says motorists in some parts of the United States will feel the impact of a 10 per cent tariff on Canadian crude imports faster than others.

Patrick De Haan of GasBuddy says the region set to be hit the hardest is the northeastern United States.

He says that’s because the area gets much of its refined product directly from Irving Oil’s refinery in Saint John, N.B.

De Haan adds that many U.S. refiners can’t simply switch to processing domestic crude because they’re set up to run on the type of heavy crude coming from the oilsands.

—-

11:17 a.m.

The Canadian Trucking Alliance says customers have been cancelling orders over the past few weeks, and many fleets surveyed in Ontario by the industry group reported recent or imminent layoffs.

Alliance president Stephen Laskowski says tariffs will have “shocking effects” on trucking companies and the broader supply chain.

The group says about 70 per cent of trade in goods between Canada and the U.S. moves by truck.

—-

11:07 a.m.

Prime Minister Justin Trudeau says Canada will be going ahead with 25 per cent retaliatory tariffs.

He says Canada also will challenge Trump’s actions by filing dispute resolution claims with the World Trade Organization and through the Canada-United States-Mexico Agreement (CUSMA).

Canada will impose retaliatory tariffs on $155 billion worth of American goods, with $30 billion being applied immediately and the remaining $125 billion landing in 21 days.

When referring directly to Trump and in agreement with the Wall Street Journal, Trudeau says the president is a “smart guy” but this is a very “dumb” thing to do. 

He says this is a trade-war when asked whether the Canadian government believes these tariffs are an ‘act of war.’

Trudeau speaks on behalf of Canadians saying they are not angry at the American people but rather at the policy that is designed to hurt Canadians.

“We’re insulted, and we’re angry, but we’re Canadian. Which means we’re gonna stand up for each other, we’re gonna fight, and we’re gonna win.”

—-

10:56 a.m.

Canadian Home Builders’ Association CEO Kevin Lee says he’s “very concerned” about the impact of U.S. tariffs on the pace of homebuilding in Canada.

He says the direct impact of tariffs would be “muted” on the industry, but the real hit would come from Canada’s own retaliatory tariffs.

They could drive up construction costs and slow down the overall economy, dragging down the pace of housing starts.

—-

10:49 a.m.

New Brunswick Premier Susan Holt announces a $162-million response plan that includes supports for businesses hit hard by the tariffs.

The plan includes a $40-million program to help export-focused companies maintain staff and diversify their markets.

Holt says Trump’s “illegal, unjustified” tariffs will have heavy impacts in the province, where 92 per cent of exports go to the United States.

She says the duties will put an estimated 6,000 jobs in the province at risk.

—

10:47 a.m.

Trump adviser Peter Navarro tells Fox News the tariffs were due to fentanyl and largely links the issue to China.

Navarro claims Mexican cartels have infiltrated Canada.

Navarro says the economy is in good shape, despite markets dramatically dropping as the duties came into force.

Navarro says Americans should “trust in Trump.”

—

10:46 a.m.

The Residential Construction Council of Ontario says U.S. tariffs will lead to price hikes for building materials and “substantially” increase the price tag on a new home in the U.S. and Canada.

The council says the residential construction industry is already “in dire straits due to a perfect storm of issues” and the tariffs will only make things worse.

It says American tariffs will make building materials more costly, leading to a further slowdown in construction activity.

—

10:41 a.m.

Green party co-leaders Elizabeth May and Jonathan Pedneault say in a media statement the U.S. tariffs are a direct attack on Canada.

They support the imposition of counter-tariffs on U.S. imports and call on all political leaders to unite and take immediate action to counter this aggression.

—-

10:38 a.m.

Manitoba Premier Wab Kinew says in a social media post the province will be removing U.S. products from Manitoba Liquor Marts.

—

10:30 a.m.

Chuck Schumer, Democrat minority Senate leader, says Trump’s tariffs will make everything more expensive for Americans.

He says that while tariffs can be useful tools when implemented precisely against adversaries, it makes no sense to start a trade war with America’s closest partners.

Schumer says less than one per cent of fentanyl that flows into the U.S. comes from Canada.

He says Trump is raising costs to cut taxes for billionaires — and the president broke his promise to fight inflation and decrease costs for Americans.

—-

10:22 a.m.

Newfoundland and Labrador Premier Andrew Furey says the relationship between his province and the United States has been “unlawfully and unjustly harmed.”

He says American products will be removed from Newfoundland and Labrador Liquor Corporation shelves and is calling on residents to buy Canadian-made products.

Furey also pledges to expand the province’s export markets in Europe and beyond.

“We stand with Team Canada as we stand strong, together,” he says. “Our identity, our values and our sovereignty will give us the strength to stand against any bully.”

—-

10:17 a.m.

NDP Leader Jagmeet Singh is calling for an emergency session of Parliament. He says he wants party leaders to come together to put in place measures that protect Canadian workers.

Singh says leaders should quickly deliver a package of measures that includes emergency support for affected workers and industries, investments in union jobs, and unanimous support for retaliatory tariffs.

—

10:15 a.m.

Ontario’s main liquor store has started removing U.S. alcohol from its shelves and website in response to tariffs imposed on Canadian goods.

Premier Doug Ford’s office says he directed the Liquor Control Board of Ontario this morning to stop selling American alcohol.

Ford said Monday the LCBO buys about $1-billion worth of U.S. alcohol every year.

—

10:15 a.m.

Federal Labour Minister Steven MacKinnon says that employment insurance will be a significant part of the government’s tariff response, but he doesn’t expect it will be at the scale of COVID-19 pandemic supports.

Speaking in Toronto, MacKinnon says he expects the affects of the tariffs will be “slow rolling,” unlike the immediate shutdown of the economy seen in the early days of the pandemic.

MacKinnon says that details of supports “tailor made” for the current crisis will be announced soon.

—

10:13 a.m.

The Global Automakers of Canada says it’s concerned about the tariffs.

The organization’s president and CEO David Adams says tariffs hurt consumers with increased costs, drive inflation and unfairly harm workers on both sides of the border.

He says a long-term solution is needed to remove the “unjustified” tariffs and ensure “stability and competitiveness for all North American businesses.”

—

9:59 a.m.

Republican John Thune, the Senate majority leader from agriculture-heavy South Dakota, is expressing some hesitancy abut the tariffs.

Thune says he and the president see the tariff issue through different lenses.

He says he believes Trump is trying to shut down fentanyl traffic with the devastating duties on Canada and Mexico.

“I think that the tariffs are, in my view, a means to an end — not the end itself,” he says. “And hopefully it’s something that can be temporary in nature.”

—-

9:49 a.m.

The Nova Scotia Federation of Labour says the tariffs represent an unprecedented challenge to the province’s workforce.

In a media statement, federation president Danny Cavanagh says Nova Scotia has thousands of workers employed in export-oriented industries, including lumber, seafood, Christmas trees, paper products and tires from three Michelin plants.

Those industries now face a severe competitive disadvantage in the U.S. market, he says, adding that the Nova Scotia government should provide employment insurance extensions, support programs for vulnerable exporters and provincial subsidies to help employers protect jobs if there is a prolonged economic downturn.

“These tariffs are not just numbers on paper; they represent an immediate threat to the livelihoods of thousands of Nova Scotian workers and their families,” Cavanagh says.

9:56 a.m.

Dan Kelly, president of the Canadian Federation of Independent Business (CFIB), says in a media statement that provinces and territories urgently need to work together to remove interprovincial trade barriers.

He calls on the federal government to recall Parliament and says the tariff money it collects should be returned to affected businesses.

Kelly also says he wants the government to pass legislation to ensure carbon tax rebates are tax-free, to increase the lifetime capital gains exemption threshold to $1.25 million and to ensure the promised Canadian Entrepreneurs’ Incentive stays in place.

—-

9:48 p.m.

U.S. Commerce Secretary Howard Lutnick claims Tuesday’s tariffs are related to fentanyl trafficking.

He says it’s not a “trade war” but a “drug war” and suggests Canada’s efforts to boost border security haven’t gone far enough.

“They’ve done a nice job on the border but they haven’t stopped the flow of fentanyl,” Lutnick told CNBC.

Asked if there’s anything Canada and Mexico could do to remove the devastating duties, Lutnick says “if they can stop the flow of fentanyl and they can prove to the president they can stop the flow of fentanyl then, of course, the president can remove these tariffs.”

When asked about the fact that very little fentanyl is seized at the northern border, Lutnick says, “You got to be kidding me.

“It’s got to stop. And it’s got to stop really right away.”

—-

9:46 a.m.

Nova Scotia Premier Tim Houston calls Trump a “short-sighted man” for imposing a 25 per cent tariff on Canadian goods.

Houston issues a statement saying Trump is wielding power for the sake of it. He says his Progressive Conservative government will respond by immediately barring American businesses from bidding on provincial contracts.

The premier says he is also looking into cancelling existing contracts with U.S. firms.

“It is impossible to properly describe the uncertainty and chaos that President Trump’s threat of tariffs and now actually imposing tariffs has caused for Canadians,” Houston says in the statement.

—-

9:45 a.m.

Minister for Opportunities New Brunswick Luke Randall says his provincial government is offering New Brunswick businesses in sectors directly affected by tariffs loans of up to $5 million.

New Brunswick Premier Susan Holt says the sectors they expect will take the biggest tariff hit include agriculture, fisheries, forestry and manufacturing.

Holt calls on residents to come together in what will be a challenging time and to focus on buying New Brunswick products.

She says Trump’s “illegal, unjustified” tariffs will have a big impact in the province, where 92 per cent of exports go to the United States.

“These tariffs are an attack on Canada and on who we are, and they mark a turning point for our province and our country,” Holt says.

About half of New Brunswick’s exports to the U.S. are refined petroleum products from the Irving Oil refinery in Saint John — the largest refinery in Canada.

An estimated 80 per cent of the vehicles in New England fill up with fuel refined in Canada.

Provincial Intergovernmental Affairs Minister Jean-Claude D’Amours says New Brunswick is ready to remove half of its interprovincial trade exceptions under provincial procurement rules.

—-

9:43 a.m.

Stock markets in Canada and the U.S. fell at the start of trading Tuesday, continuing the plunge that began late Monday after the U.S. confirmed tariffs were coming.

Canada’s main stock index fell nearly 500 points in early trading, while U.S. stock markets also tumbled, adding to their losses Monday after Trump confirmed the tariffs.

The S&P/TSX composite index was down 482.60 points at 24,518.97 after the tariffs came into effect at 12:01 a.m. ET, triggering a continental trade war.

In New York, the Dow Jones industrial average was down 662.30 points at 42,528.94. The S&P 500 index was down 97.74 points at 5,751.98, while the Nasdaq composite was down 305.26 points at 18,044.93.

The Canadian dollar traded for 69.05 cents US compared with 69.31 cents US on Monday.

The April crude oil contract was down US$1.52 at US$66.85 per barrel and the April natural gas contract was up 34 cents at US$4.46 per mmBTU.

The April gold contract was up US$17.70 at US$2,918.80 an ounce and the May copper contract was down four cents at US$4.57 a pound.

—-

9:05 a.m.

Bea Bruske, Canadian Labour Congress president, says there are 1.5 million Canadian jobs on the line due to American tariffs. 

In a media statement, she says that “urgent action” is needed to bring stability to “key industries.” It’s expected that the tariffs will have a heavy, rapid impact on Canada’s automotive and manufacturing sectors.

Bruske says the government response needs to include “immediate support” for affected workers.

—-

9 a.m.

Kentucky Senator Rand Paul says in a social media post that U.S. tariffs will inevitably bring retaliation from Canada, Mexico and China. 

The senator says this will lead to higher prices for lumber, steel, aluminum, cars and homes in the U.S.

Paul says that tariffs will lead to lowered U.S. exports for agricultural products and bourbon — a key export in his home state of Kentucky. 

—-

8:30 a.m.

Candace Laing, Canadian Chamber of Commerce president and CEO, says that Trump’s move to enact broad-based tariffs on Canada is forcing both countries toward a “recession, job losses and economic disaster.”

Laing says it’s time for Canada to “double down” on protecting its economic sovereignty and security and calls the push to remove interprovincial trade barriers a step in the right direction.

She adds that Trump is trying to revive a “failed economic model from the 1800s” with his tariffs and predicts that Americans will soon see the “disastrous impacts” at home.

—-

8:25 a.m.

Goldy Hyder, Business Council of Canada CEO and president, says the trade war will hurt workers, farmers and families across North America — especially in the U.S.

Hyder says that any trade issues should have been sorted out through mechanisms that exist in the Trump-negotiated Canada-U.S.-Mexico Free Trade Agreement.

Because that didn’t happen, Hyder says that any Canadian response should be “strategic” to avoid compounding the harm and driving costs higher for Canadian families.

—-

8 a.m.

United Steelworkers union national director Marty Warren says Trump is trying to “crush Canadian workers” and force the government into “submission” with these tariffs.

Warren urges Ottawa to take immediate action to match the scale of the American “attack” on the Canadian economy, arguing Trump has made “false claims” about Canada being an unfair trading partner.

Trump has ordered an additional 25 per cent tariff on all steel and aluminum imports on Mar. 12, which would stack on top of existing levies.

—-

7:25 a.m. 

Premier Houston says in a social media post that his province will block American companies from bidding on provincial contracts.

Houston adds that Nova Scotia is “actively seeking” options to cancel existing contracts until Trump removes the tariffs.

Other measures being enacted in Nova Scotia include removing American liquor from provincially run stores, working to remove interprovincial trade barriers and further developing natural resources.

—-

7:20 a.m.

Brian Kingston, Canadian Vehicle Manufacturers’ Association president and CEO, says the tariffs will have “immediate” negative consequences for the North American vehicle supply chain. 

Kingston says in a media statement the tariffs will reduce vehicle production, increase sale prices and lead to manufacturing job losses across the continent.

The auto manufacturing sector contributes over $18 billion to Canada’s GDP, according to the association.

Kingston says that “every effort” should be made to remove tariffs as soon as possible.

———

6:31 a.m.

Unifor national president Lana Payne says Trump has seriously misjudged the resolve and unity of Canadians, and he has misjudged how damaging this trade war will be for American workers.

The head of the union, which represents 320,000 workers, says the tariffs will hurt working people with higher prices for everyday goods, and destroy jobs on both sides of the border.

Unifor is calling on all levels of government and industry to step up and co-ordinate a response to the continued tariff threats on targeted Canadian industries.

Payne says Canada’s trading relationship with the U.S. has forever changed.

———

6 a.m.

A survey by KPMG finds two-thirds of Canadian business leaders polled say they can weather a trade war that lasts more than a year.

The report also says that 86 per cent support retaliatory tariffs against the United States.

Timothy Prince, the Canadian managing partner for clients and markets at KPMG in Canada, says the business community remains unwavering in its commitment to standing up for Canada.

The report is based on a survey completed last week of 602 business leaders from primarily mid-sized and large companies across Canada and industry sectors.

This report by The Canadian Press was first published March 4, 2025.