Canada-U.S. Trade Is Changing. BBOT Is Working for Burnaby Businesses.
BBOT Members,
The trade environment between Canada and the United States continues to change rapidly, and we know many businesses are assessing what these latest developments may mean for their operations.
Following the United States’ decision to impose 50% tariffs on approximately $27 billion worth of Canadian goods, the federal government announced this morning $7.5 billion in new and enhanced measures to support Canadian workers and businesses affected by U.S. tariffs, with a particular focus on small and medium-sized businesses. For B.C. businesses, PacifiCan will play a key role in delivering the additional $1.5 billion through the Regional Tariff Response Initiative, which includes funding and liquidity support for SMEs facing tariff-related pressures. The package also includes a new $500 million liquidity stream through the Business Development Bank of Canada and $2 billion through the Canada Strong Diversification Fund to help tariff-affected businesses adapt and move projects forward.
The federal government also confirmed that Canada will introduce matching counter-tariffs on affected U.S. goods beginning September 8, including tariffs on products such as steel, appliances, agricultural equipment, pulp and paper, and electronics.
For British Columbia, the trade situation is significant, with approximately 14% of our exports to the United States now affected. The latest threat of additional 50% tariffs on Canadian automobiles, auto parts and steel beginning January 1, 2027, adds further uncertainty for businesses across BC, including those in Burnaby’s manufacturing, construction, industrial and supply chain sectors.
At BBOT, we are focused on making sure Burnaby businesses are represented in the response.
We are working closely with the BC Chamber of Commerce as it mobilizes its network of 85 chambers and boards of trade across the province, while remaining aligned with the Canadian Chamber of Commerce and the broader national business network. We are also speaking directly with PacifiCan as it works to deliver these supports in B.C., while bringing Burnaby businesses’ experiences and concerns directly into the provincial response.
This is an important time for us to hear directly from you.
If your business is being affected by tariffs or broader trade uncertainty, please share your experience through the BC Chamber’s business intake and survey process.
Your feedback will help us understand the impact across Burnaby and ensure we raise the right issues with government as these new supports are developed and delivered.
We also welcome you to contact the BBOT team directly. I want to hear from you and understand what your business needs during this period of uncertainty.
We know from experience that local business organizations play an important role when businesses are facing significant economic uncertainty. During the pandemic, BBOT became a critical connection point for Burnaby businesses, helping them navigate changing programs, access support and ensure their concerns were heard by government. We’re committed to playing that same role again today: bringing Burnaby’s business voice forward and helping ensure businesses have access to the support they need.
If your business is being affected, please reach out. We are here to listen, understand what you are experiencing and bring those concerns forward.
Sincerely,
Angie Whitfield
President & CEO
Burnaby Board of Trade
604-412-0100