Premier Wakeham met with industry partners today to hear directly about the effects of ongoing trade uncertainty between Canada and the United States. The current tariffs increase costs for businesses and consumers on both sides of the border, disrupt integrated North American supply chains, and create uncertainty for workers and investors. He was joined by the Honourable Craig Pardy, Minister of Finance, and the Honourable Lin Paddock, Minister of Jobs, Growth and Rural Development.

During the meeting, Premier Wakeham highlighted the Provincial Government’s unwavering commitment to collaboration with industry, community, and labour organizations. Premier Wakeham also took the opportunity to outline how the Provincial Government has prioritized protecting provincial interests by standing up for workers, supporting businesses, and safeguarding the economic well-being of every Newfoundlander and Labradorian in the face of the ongoing trade situation.

As partners shared their concerns about potential impacts, discussions focused on how Canada’s response programs must be ambitious, targeted, and responsive to the challenges ahead, ensuring support measures are designed to work for all regions of the country, including smaller export-oriented jurisdictions such as Newfoundland and Labrador.

The Provincial Government is working as part of Team Canada to defend Canada’s interests as an independent, sovereign country.

In 2025, the United States accounted for approximately 34 per cent of the total value of Newfoundland and Labrador’s international merchandise exports, making it the province’s largest individual export market. With a long tradition of international trade and a strategic position in the North Atlantic, Newfoundland and Labrador is well positioned to build on existing trade relationships and pursue new opportunities in global markets.

Quote
“Historically, Canada and the United States have had one of the world’s most significant bilateral trading relationships. Canada has been placed in a challenging position by the United States’ decision to impose tariffs, an economic attack that threatens key industries, increases costs and creates uncertainty for workers and businesses throughout our province. We will continue to engage with partners about the trade situation and closely track the effects of Canada’s response to ensure the interests of Newfoundland and Labrador’s workers, businesses, and communities are protected.”
The Honourable Tony Wakeham
Premier of Newfoundland and Labrador

-30-