There could be some tough times ahead for Saskatchewan exporters, as the Canadian and American governments continue their escalating trade war. The announcement from the United States they have put in place tariffs on Canadian steel and aluminium could impact a number of companies here in the province, according to the Saskatchewan Trade and Export Partnership, also known as STEP.
“Saskatchewan is one of the most export-oriented provinces in one of the most export-oriented countries in the world,” explained Chris Dekker, the president and CEO of STEP. “We ship about 55 percent of what we produce into the United States, so it’s a big market for us, and a huge concern for us.”
Each year, Saskatchewan exports roughly $60 million in steel to the United States and $30 million in aluminium.
Dekker said the tariffs are going to have an impact in terms of raising prices on a number of materials.
“That’s not helpful to manufacturers or producers, but most noticeably, it increases prices for consumers on both sides of the border.”
Dekker added over the years, there has never been a winner in a trade war between two countries.
“It’s a lose-lose situation.”