B.C. Warned of $69 Billion Loss from U.S. Tariffs

British Columbia is bracing for the potential economic fallout of a proposed 25% tariff on Canadian imports by U.S. President-elect Donald Trump, which could cost the province an estimated $69 billion and result in the loss of 124,000 jobs by 2028. The province's Ministry of Finance projects a decline in real GDP by 0.6% in 2025 and 2026, with significant impacts on key industries such as natural resources and manufacturing. Premier David Eby emphasized the seriousness of the threat, describing it as an attack on families in British Columbia. In response, the provincial government has outlined a three-part plan aimed at mitigating the impact, which includes contingency planning and enhancing trade partnerships in the Asia-Pacific region. The analysis also warns of increased unemployment rates, which could rise to 6.7% in 2025 and 7.1% in 2026, alongside declines in corporate profits and government revenues. Eby is actively lobbying against the tariffs and has met with U.S. officials to discuss the potential repercussions for both Canada and the U.S.