IN THE KNOW:
U.S. tariff on Canadian goods prompts emphasis on Buy Local
U.S. President Donald Trump has said he will go forward with a 25% tariff on most Canadian goods and a 10% tariff on Canadian energy products (including oil and gas) effective February 4, 2025, citing border security and trade deficits.
The move has been described by B.C. Premier Eby as “a direct attack on B.C.’s families.” The Premier made the remarks as he announced a new cabinet committee tasked with a whole-of-government approach to protect B.C.’s workers, businesses and economy.
The province has also revealed a three-point strategy to fight back and protect British Columbians: respond to U.S. tariffs with tough counter-actions and outreach to American decision-makers; strengthen B.C.’s economy by expediting projects and supporting industry and workers; and diversify trade markets for products so British Columbia is less reliant on U.S. markets and customers.
B.C.’s retaliatory measures include banning purchases of American liquor from Republican-led “red states” and removing top-selling brands from BC Liquor Stores and directing government and Crown corporations to prioritize Canadian goods/services.
It will also expedite $20 billion in private-sector projects (mining, renewables) to create 6,000 jobs in rural areas.
The federal government announced retaliatory 25% tariffs on $155 billion worth of U.S. goods, with $30 billion taking effect February 4 and $125 billion phased in after a 21-day consultation period.
It says a 25% tariff could reduce Canada’s GDP growth to near zero in 2025, risking a recession. British Columbia alone faces a potential $69 billion cumulative economic loss and 124,000 job losses by 2028.
Prime Minister Justin Trudeau condemned the tariffs as a violation of the USMCA trade agreement and warned of “real consequences for Americans,” including higher consumer prices and supply chain disruptions. Its retaliatory efforts in targeting U.S. orange juice, wine, appliances, and vehicles, and considering challenges under USMCA and WTO rules.
BC Chamber of Commerce President Fiona Famulak has called the tariffs “unnecessary and unreasonable,” warning of price hikes, job losses, and supply chain inefficiencies.
However, many businesses see the opportunity in the challenge, encouraging Canadians to support their local suppliers. Country Grocer is among those pointing to locally made food options available in its stores, highlighting the Island Good buy local program.
And Greater Victoria Chamber of Commerce CEO Bruce Williams said in an interview with CHEK News on February 2 that if people are looking for Canadian businesses to support and engage with, they can peruse membership directories for their community’s Chamber of Commerce.
He noted “the concerning part for a lot of people is the uncertainty as to whether or not it’s going to happen. And if so, what is it going to look like? And will the Americans come to an understanding that it’s damaging to them as well as to us.”
In the meantime, according to a B.C. government media release, private-sector forecasters indicate British Columbia is “well positioned to take on whatever comes next.”
At their annual meeting with the finance minister on January 31, 2025, the 13 independent private sector forecasters from across Canada that make up B.C.’s Economic Forecast Council (EFC) said a diverse export network and a resource-rich environment give B.C. an advantage over other provinces, while some were encouraged by B.C.’s work to date to address housing supply, skills training and affordability challenges.
The Economic Forecast Council estimates that real GDP in B.C. grew by 1.2% in 2024, higher than the province’s projection in the Fall 2024 Economic and Fiscal Update. In early January, the council forecast B.C. real GDP growth of 1.9% in 2025, in line with the ministry’s outlook, and steady economic growth of 2.0% annually on average through 2029. These projections do not fully include the impact of potential U.S. tariffs.
On Monday, February 3, Prime Minister Trudeau spoke with President Trump to try and prevent a tariff war, following which Trudeau announced in a tweet that the proposed tariffs will be “paused for at least 30 days while we work together” to reinforce U.S.-Canada border security.
Camosun College hosts “Mega Career Fair”
Camosun College’s Applied Learning, Co-operative Education and Career Services department, also known as the Career Lab, is transforming its approach to career networking with the launch of its first-ever Mega Career Fair. This two-day event February 4 & 6 connects students with over 120 industry leaders across multiple sectors.
The fair will take place across both Camosun campuses with industry-specific focus days.
“By expanding to a mega fair format, we’re not just creating a larger event, we’re multiplying opportunities for our students,” says Claudia Sperling, Applied Learning, Co-operative Education and Career Services Director. “This new approach reflects both the increasingly interconnected nature of modern industries and our commitment to providing every student their unique path to opportunity.
The Mega Career Fair is open to all Camosun students and alumni at no cost.
Porter Airlines announces new Ottawa-Victoria service
Porter Airlines says it will begin a new service between Ottawa International Airport (YOW) and Victoria International Airport (YYJ) starting May 15, 2025. The new route will operate for the summer season with up to four weekly roundtrip flights. Service will be provided on Porter’s Embraer E195-E2 aircraft.
The service came about because of their organization’s advocacy work as an investment partner on airline route development business partnerships, says Destination Greater Victoria.
“We are delighted to partner with Porter Airlines in this strategic development,” said Paul Nursey, CEO of Destination Greater Victoria in a media release. “The new Ottawa-Victoria service is a crucial addition, offering seamless travel experiences for conference delegates and business tourists. It strengthens our city’s position as a leading destination for meetings and events.”
This year, Victoria will host the Canadian Society of Association Executives, welcoming over 400 executives from Ottawa’s association market.
DVBA encourages applications for Facade Improvement Grant
The Downtown Victoria Business Association has announced the renewal of its Facade Improvement Grant in partnership with the City of Victoria.
Individual businesses can apply for a grant reimbursement of 50% of their costs to a maximum of $5000, or a property owner can apply for a grant reimbursement of 50% of costs to a maximum of $5000 per commercial tenant with a street-facing storefront (to a maximum of six tenants).
This program is administered on a first-come, first-serve basis. Businesses can peruse eligible projects before connecting with the DVBA to discuss their proposed project.
B.C. welcomes new Lieutenant Governor
British Columbia’s 31st Lieutenant Governor has been sworn in. Wendy Lisogar-Cocchia, CM, OBC, LLD (Hon) took the role on January 30, replacing Janet Austin, OBC, who had been in the role since 2018.
Lisogar-Cocchia is an entrepreneur and philanthropist. She is the co-founder of the Pacific Autism Family Network in British Columbia and has served as Governor of the Business Council of British Columbia, as the first female Trustee of the Vancouver Police Foundation, and as the Greater Vancouver Board of Trade’s fifth and youngest female Chair.
She is a Fellow of Royal Roads University in Victoria, British Columbia, and was a founding Director for Destination British Columbia.
Innovate BC announces new hire
Elizabeth Dutton is the new Chief Operating Officer (COO) for Innovate BC, providing strategic leadership to the organization.
She previously served as Vice President, Digital Operations, at Black Press Media and is a founding partner for Women’s Equity Lab, a series of international women-led venture funds across Canada and the United States representing over 400 women investors globally.
Dutton has also held senior roles at Used.ca and Amazon.com and provided strategic planning support and leadership education to CEOs through Lawrence & Company Growth Advisors. She is actively involved in British Columbia’s innovation and entrepreneurial community, serving as a mentor, advisor and board member for startups across a variety of verticals including consumer packaged goods, green tech, healthcare and education.
FROM THE PAGES OF DOUGLAS:
Conferences are a major opportunity for Victoria’s economy, so it’s no surprise Destination Greater Victoria has included a major renovation project for the Victoria Convention Centre in its 10 year master plan.
MARK YOUR CALENDAR:
FEBRUARY
February 12: Accelerate your Business Growth the 3HAG Way
February 12: Westshore Chamber of Commerce Member Mixer
February 20 – 21: 6th Western Angel Investment Summit
MARCH
March 4 – 6: Rising Economy conference
MAY
May 4 – 9: International Seaweed Symposium
May 27 – 30: Web Summit
JUNE
June 4: Greater Victoria Chamber of Commerce Business Awards
June 10: TEDxVictoria
