Kelowna Chamber warns trade fallout will be tough for B.C. businesses
Kelowna Chamber of Commerce (Image Credit: Kelowna Chamber of Commerce/Facebook)
The Kelowna Chamber of Commerce says the collapse of Canada U.S. trade talks will put added pressure on B.C. businesses, with forestry among the industries expected to take a significant hit.
The Chamber says 50 per cent U.S. tariffs on roughly $27 billion worth of Canadian goods took effect Saturday, with about 14 per cent of B.C. exports to the U.S. now affected.
It says the best outcome remains a durable trade agreement, but Canada also needs to reduce internal trade barriers, improve infrastructure, diversify export markets and strengthen its competitiveness.
The Chamber says the months ahead will be difficult for businesses and is urging governments to act rather than wait for another trade deal.
