Saint John tops list of Canadian cities with most to lose in U.S. tariff war

A report from the Canadian Chamber of Commerce has the Port City at the top of the list of Canadian cities that would be most hurt by tariffs from the United States, something that didn't come as a surprise to Fraser Wells.

Wells, the chair of the Saint John Chamber of Commerce, said he wasn't "entirely surprised" to see the city top the list, but he wasn't expecting to be as firmly in place at number one.

"The gap between us and even second and third place was quite significant," said Wells. 

"We're exporting a lot here in Saint John."

The list utilizes a measurement the chamber calls a "trade exposure index," which is essentially the combination of a city's export intensity and dependence on the U.S.

Saint John has a trade exposure index of 131.1 per cent, followed by Calgary at 81.6 per cent and Windsor at 61.7 per cent.

Other New Brunswick cities are also on the list, but much further down. Fredericton is in 18th place, with 4.2 per cent, and Moncton is in 30th place at –11.1 per cent.

The chamber reports 96.3 per cent of Saint John's total exports go south of the border, largely focused on energy, forestry and aquaculture products.

"[The Irving Oil Refinery] can process over 320 thousand barrels of crude daily, with more than 80% exported south of the border," the national chamber's report said.

"Seafood and forestry products are New Brunswick's other top exports to the U.S., many of which go to Maine."

Wells said it won't just be exporters that will be hurt by potential tariffs, but everyone in the province.

"A falling tide brings down all boats."

Wells said tariffs are inherently inflationary, so New Brunswickers can expect to pay more for a lot of different goods.

Shift - NB9:24Saint John to be hardest hit by tariffs

Saint John, New Brunswick, has come out on top in a new study from the Canadian Chamber of Commerce. The trouble is, it's a list of the Canadian cities that would be hardest hit by U.S. tariffs. We'll speak with the president of the local chamber, Fraser Wells.

But so can Americans, and Wells is hopeful President Donald Trump's campaign promises on bringing down inflation will lead to a rethink on tariffs.

"We actually saw inflation numbers higher than expected this morning in the U.S.," said Wells. 

"With any sort of tariff or trade war that we see, that's just going to keep inflation high and work against that campaign promise."

In the meantime, Wells said, businesses should try to diversify their export markets, if possible, and he is calling on governments to reduce barriers to interprovincial trade.

He'd also like to see more New Brunswickers make an effort to buy local.

"We have a ton of amazing products that are made here in New Brunswick, here in Canada," said Wells. 

"Trying to encourage people that are out … for a day of shopping to turn the can around or turn the product around to see where it's made and, and buy local where they can."