While Canada was spared from further tariffs — for now — N.L. plans to hold its ground

While Canada was spared from further U.S. tariffs on Wednesday, Newfoundland and Labrador Premier Andrew Furey says it was only a "partial relief" and that Canada needs to continue to protect itself.

On Wednesday, President Donald Trump rolled out sweeping reciprocal tariffs that targeted dozens of countries around the world, though Canada and Mexico — which have been early targets during Trump's second term — were not included.

"While we were all happy not to see Canada on that ridiculous billboard, I still think that we need to be reserved in that relief," Furey told CBC News on Thursday morning.

There already exists tariffs on steel and aluminum, auto manufacturing, as well as potash and energy products coming out of Canada.

Canadian premiers and the federal government will need to continue the fight, Furey said.

In doing so, Furey confirmed his commitment to keep provincial measures in place, like keeping U.S. alcohol off of Newfoundland and Labrador Liquor Corporation store shelves.

"We look to diversify our markets. We look to alter our procurement processes so that we're securing what we can across Canada as opposed to the United States. But this has been incredibly disruptive," said Furey.

Speaking ahead of a virtual first premiers meeting on Thursday, Furey said he wants to see a relief package that will support those impacted by U.S. tariffs.

He says any Canadian response has to be proportional to the impact the U.S. tariffs have on Canada.

"We need to make sure that we have a position of strength, which we do as a natural resource-based economy," Furey said.

Diversification

In the wake of Trump's announcement this week, Labrador Gem Seafoods president Danny Dumaresque said it's reassuring to be in a position where he can give directions to his production.

The Canadian seafood industry has been spared by the U.S. so far, though China issued its own 25 per cent tariff in late March.

"I was pleased that we'd dodged a bullet, but there's no question there is a global trade war raging," Dumaresque told CBC News.

"By no means are we out of the woods."

Financial markets in Asia and Europe are trending downward and economists are predicting a global recession, said Dumaresque, and Trump's announcement on Wednesday doesn't change his decision to diversify markets away from the U.S.

"Fool me once, shame on you. Fool me twice, shame on me," he said.

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