Statement on the US Tariff Response (Updated)March 5, 2025

Original Statement made on February 10, 2025

The following is a statement from the Cape Breton Partnership on the evolving response to the Tariffs on Canadian products being presented by the United States. As further updates and resources are made available, this space will be updated.

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As the businesses, communities, and residents of Unama’ki – Cape Breton are well aware, the United States of America has now put into place the tariffs that were announced earlier this year. The Cape Breton Partnership recognizes the significant risk of trade challenges now facing our country and Atlantic Canada specifically, and  we want to reaffirm our commitment to supporting businesses in Unama’ki–Cape Breton and across the region. The newly imposed U.S. tariffs on Canadian exports and energy will undoubtedly create hurdles, but our community has a long history of resilience, adaptability, and innovation. 

Now, more than ever, we must come together to strengthen our local economy, explore new market opportunities, and build a more diversified and competitive business landscape.

If your business is experiencing difficulties or seeking new opportunities, we encourage you to reach out to individual staff members of the Cape Breton Partnership on our website, or requesting a contact using our Contact Us form. Our team of economic development professionals—alongside our dedicated colleagues across the island, the province, and Atlantic Canada—is here to provide direct support. Whether you need assistance navigating trade challenges, exploring new markets, or accessing resources to enhance resilience and growth, we are ready to help. 

Two examples of support:

Together, we will move forward, together, ensuring our businesses not only weather this period but emerge stronger and more competitive than ever.

Sincerely,

Tyler Mattheis, President & CEO
Cape Breton Partnership

Unama’ki – Cape Breton has a deep-rooted history of trade, manufacturing, and resilience. Long before European newcomers arrived, the Mi’kmaq had established a thriving system of regional trade built on reciprocity, negotiation, and trust. This tradition laid the foundation for the Treaties of Peace and Friendship in the late 18th century, shaping the region’s economic and social fabric. It also influenced the Watertown Treaty between the Mi’kmaq and the United States—the first international treaty signed by the U.S. after its Declaration of Independence.

Today, Unama’ki – Cape Breton continues to build on this legacy. Our communities are welcoming new families, industries are attracting investment while driving innovation, and our trade networks are evolving. While recent announcements and trade actions between Canada and the United States present challenges, the Cape Breton Partnership remains committed to strengthening our economy through investment, population growth, and innovation. As our nation’s largest trading relationship faces uncertainty, we are diversifying by expanding partnerships within Nova Scotia, across Atlantic Canada, and with international markets such as the European Union and India, leveraging agreements like the Canada-EU Trade Agreement, and strengthening both educational and business connections.

The Cape Breton Partnership recognizes the importance of a stable trade relationship with our long-standing partners in the United States. In the face of potential tariffs, organizations, businesses, institutions, and communities of Unama’ki – Cape Breton remain resilient and resourceful. Looking ahead, focus will be on three key priorities:

  1. Promote our Island as a great place to live, work and invest – with an added emphasis on promoting our own goods to each other, and to new trading partners next door or across the globe;

  2. Support and celebrate our culture that values and celebrates creativity, innovation, risk-taking and entrepreneurship – so that we are prepared not only for the uncertainties of today, but so that we can thrive and prosper from future changes and opportunities as they arise;

  3. Connect entrepreneurs, companies, and our neighbours to the resources they need to succeed – be that economic data, a new business contact, or a new program designed to help navigate a changing marketplace.

While challenges exist, we remain confident that Unama’ki – Cape Breton will emerge stronger, with a more diversified supply chain, enhanced food security, and increased interprovincial and international trade opportunities. By embracing change, fostering new partnerships, and standing together as a resilient community, we will ensure a bright future for our region.

Sincerely,

Tyler Mattheis, President & CEO

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Provincial Supports & Resources

To support local businesses during this time, the Province of Nova Scotia has introduced resources for those impacted by U.S. trade policies.

  • Business owners are encouraged to share their concerns about barriers to expanding into interprovincial or international markets by completing a survey at https://novascotia.ca/tariffs. The Province will take that information into account as it moves forward with its tariff response.
  • Additionally, a tariff information line (1-800-670-4357) is available for assistance, with business navigators providing follow-up support.

With over 29,000 Nova Scotian jobs tied to U.S. exports, maintaining strong trade relationships is crucial. However, the Province of Nova Scotia also encourages businesses and consumers to support local industries. Nova Scotia Loyal (https://www.nsloyal.ca) provides a platform for producers and retailers to register and connect with customers who are committed to buying locally.

Quick facts:

  • In 2023, Nova Scotia exports to the U.S. were $4.4 billion and imports were $682.7 million; the leading exports were tires, fish/prepared seafood, forest products, aerospace products, and plastics;
  • Nova Scotia exports to Mexico were $28.5 million in 2023 and imports were $47.6 million;
  • Canada is the largest export market for 36 U.S. states and ranks among the top three for 46 states; 43 states export more than $1 billion annually to Canada;
  • Nearly 70 per cent of Canadian goods exported to the U.S. are integral to manufacturing other products, directly supporting American manufacturing; and
  • More than 29,000 Nova Scotian jobs depend on exports to the U.S. – about one in every 16 jobs and more than half (54 per cent) of all jobs in Nova Scotia that are supported by international exports.

Federal Supports & Resources

Updated as of March 7, 2025

  • The federal government has launched the Trade Impact Program through Export Development Canada. The program will deploy $5 billion over two years, starting this year, to help exporters reach new markets for Canadian products and help companies navigate the economic challenges imposed by the tariffs, including losses from non-payment, currency fluctuations, lack of access to cash flows, and barriers to expansion.
  • $500 million in favourably priced loans will be made available through the Business Development Bank of Canada to support impacted businesses in sectors directly targeted by tariffs, as well as companies in their supply chains.
  • $1 billion in new financing through Farm Credit Canada to reduce financial barriers for the Canadian agriculture and food industry.
  • The federal government has introduced temporary flexibilities to the EI Work-Sharing Program to increase access and maximum agreement duration.

In addition to these supports and to protect Canadian businesses from harmful takeover, the federal government has also updated the Investment Canada Act Guidelines to protect Canadian companies at a time when our economy is facing unprecedented challenges.

Additional Supports & Resources