British Columbia depends on exports of goods and services to support income and employment growth, and to maintain viable regional economies across the province. For a small jurisdiction like B.C., sustained improvements in living standards are impossible in the absence of a strong export base. In fact, a key reason for B.C.’s waning prosperity in the last several years is the erosion of some of our foundational export sectors.

Given this, the current threat of across-the-board American tariffs has prompted the provincial government to focus more sharply on the risks facing B.C.’s trade-dependent economy. The importance of exports was underscored by Ministry of Finance modelling undertaken earlier this year. It showed that 25-per-cent U.S. tariffs — along with Canada’s retaliatory measures — would bring B.C. to the brink of recession, cutting projected GDP growth from 1.8 per cent to just 0.3 per cent in 2025, and to 0.8 per cent next year.

The ministry noted that with the U.S. accounting for more than half of B.C.’s international exports, the province would be especially vulnerable to tariff-related shocks — particularly in the........

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