Dear Ministers Joly and Bailey,
On behalf of the New Westminster Chamber of Commerce and the Downtown New West BIA,
we are writing to express our grave concerns regarding the anticipated economic repercussions
of the recently announced trade tariffs set to take effect on February 3, 2025. As business
representatives from a community deeply integrated into the regional and national economy, we
urge the federal and provincial governments to take decisive action to mitigate the disruptions
these tariffs will cause and to work towards a stable and constructive trade relationship with the
United States, Canada’s largest trading partner.
The imposition of new tariffs by the United States will have immediate and significant impacts
on our local and regional businesses, particularly in the areas of supply chain logistics, shipping
costs, cross-border sales, hiring capacity, and overall inflationary pressures. Many businesses in
New Westminster and the Lower Mainland rely on trade with the U.S. for raw materials, finished
goods, and key business partnerships. Increased costs due to tariffs will hinder their ability to
remain competitive, limit growth opportunities, and place additional strain on consumers who are
already facing economic challenges.
In addition to the direct financial consequences, the uncertainty surrounding trade relations could
further erode investor confidence and delay critical business expansion efforts. Our members are
already reporting concerns about the sustainability of operations should these tariffs remain in
place without an effective counter-strategy from the Canadian government.