‘We hope it’s a short-term storm’: P.E.I. to support agriculture, seafood amid U.S. tariffs

Premiers in Nova Scotia, New Brunswick and Prince Edward Island offered response plans to U.S. tariffs on Tuesday.

Following the pattern of his fellow Maritime leaders, newly-sworn-in Prince Edward Island Premier Rob Lantz announced his province’s plans to support businesses – particularly agriculture and seafood – as the U.S. tariffs come into effect.

Lantz, flanked by several ministers from his cabinet, announced what he’s calling the “first phase” of P.E.I.’s tariff response plan on Tuesday afternoon. The plan includes targeted relief and support for residents and businesses.

“It’s a sad day from Prince Edward Island, a sad day for Canada and a sad day for the United States,” Lantz said. “Now we face a challenge we didn’t ask for. It’s ordinary Islanders who will ultimately bear the brunt of this.”

President Donald Trump, who has made threats he would implement 25 per cent across-the-board tariffs on Mexico and Canada for months, followed through on his plan as his executive order officially took effect at 12:01 a.m. ET on Tuesday.

There will also be a 10 per cent levy on energy.

Lantz said one of his main messages to Ottawa will be to remove the bridge and ferry tolls for Islanders to ease the economic burden for the province.

Much like New Brunswick and Nova Scotia, P.E.I. will be removing American booze from its liquor stores.

“This is not just a trade dispute, this is real life, this impacts real people,” Lantz said. “It’s not good for business, it’s not good for our future.”

More trade missions

Minister of Economic Development, Innovation and Trade Darlene Compton said the province will launch the Export Enhancement and Diversification Fund, which will provide non-repayable assistance to businesses impacted by these changes. The fund will cover 60 per cent of eligible costs up to a maximum of $32,000.

The province is also rolling out relief loans to businesses and increasing the amount of trade missions on its calendar.

Agriculture and seafood

Minister of Agriculture and Deputy Premier Bloyce Thompson said P.E.I. farms sent more than $900 million worth of products to the United States last year. The Department of Agriculture will be making increased investments in farms and agricultural initiatives.

“These are long term initiatives,” he said. “Markets are not made overnight.”

Minister of Fisheries, Tourism, Sport and Culture Zack Bell said P.E.I. exported $346 million worth of seafood in a year.

“The U.S. does not have the capacity to process all the seafood they catch,” he said. “They need us.”

Budget impact

Minister of Finance Jill Burridge said the province is reviewing its procurement practices with U.S. companies. She also acknowledged the tariffs will have a “significant impact” on the operating budget.

“It’s inevitable these tariffs will impact our economy,” she said.

“We’re got to build in a certain amount of cushion,” said Lantz. “It’s going to be reflected in our budget.

“We hope it’s a short-term storm.”

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