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Montreal Gazette
10 hours ago
- Business
- Montreal Gazette
Quebec exports, imports dropped in April amid trade war
By Quebec's international exports declined 12.5 per cent from to March to April, the largest percentage decline since the beginning of the COVID-19 pandemic, the province's statistics institute said Thursday. The decline, which came during the first full month during which United States import tariffs were in place on Canadian aluminum and steel, followed a 4.5 per cent decline in exports from February to March, according to the Institut de la statistique du Québec. Exports to the United States dropped 26.9 per cent from March to April, with $6.3 billion in exports heading south of the border that month, the lowest level since February 2022. The U.S. imposed and paused across-the-board tariffs on Canadian goods in February and March, before exempting goods that are compliant with the Canada-United States-Mexico Agreement. U.S. tariffs on all aluminum and steel imports — including from Canada — came into effect in March 12 and were doubled in June. Exports to all other countries dropped by 10.7 per cent from March to April, the ISQ said. Despite the month-to-month decline, overall exports were up 2.9 per cent in April when compared to the year before. The province's imports declined 9.2 per cent from March to April, after declining 5.7 per cent the month before, the ISQ said. However, they were up 1.3 per cent from April 2024. The ISQ says export data from the federal government was delayed due to issues with a new computer system used by the Canada Border Services Agency.
CBC
31-01-2025
- Business
- CBC
Here are the top Quebec exports to the United States
Quebec's economy is inextricably intertwined with that of the United States. Its southern neighbour is by far its largest international trading partner, accounting for more than 70 per cent of all the province's exports. In 2023, the province exported $87.3 billion worth of products to the U.S., according to the Institut de la statistique du Québec. U.S. President Donald Trump has said he will impose 25 per cent tariffs on Canada on Saturday, though his administration hasn't given details on when they would go into effect or what goods would be affected. "Mexico and Canada have never been good to us on trade. They've treated us very unfairly on trade and we will be able to make that up very quickly because we don't need the products that they have. We have all the oil that you need, we have all the trees you need — meaning the lumber. We have more than almost anybody in those two categories," he said Thursday. Premier Francois Legault has said the government will assist any industries and people affected. "I want to send a very clear message to Quebecers: no matter what Trump does, we're going to protect you at all costs and we're going to get through this together," he said last week. Here's a look at the top industries in terms of exports to the United States.
CBC
31-01-2025
- Business
- CBC
Facing threat of tariffs, Quebec premier tries to reassure workers in aluminum industry
Quebec Premier François Legault is warning Americans they will pay the price if President Donald Trump goes ahead with 25 per cent tariffs on Canadian exports — particularly the province's aluminum. Trump said Thursday he would impose tariffs by Saturday, though his administration has not provided details and it remains unclear what sectors could be affected. The Wall Street Journal reported the tariffs could be more targeted, focusing on sectors such as steel and aluminum. Aluminum is the second largest sector in Quebec after aerospace, representing 10 per cent of the province's export market. Legault toured an aluminum plant Thursday in Sept-Îles in an attempt to reassure workers that he will keep fighting for their jobs. "If Mr. Trump's goal is to replace products made in Quebec, that's not possible," Legault said. "He'll have to import aluminum from other countries. In any case, this means a significant increase in the prices paid by American buyers." Tariffs were levied on steel and aluminum the last time Trump was in office. In 2018, he put a 25 per cent surtax on steel imports and a 10 per cent surtax on aluminum imports. The measures were lifted the following year. This time around, Trump has threatened to impose tariffs across the economy. The United States is by far Quebec's biggest trading partner. In 2023, the province exported just over $87 billion in goods to the U.S., according to the Institut de la statistique du Québec. Legault has tried to make the case before that the tariffs would hurt American consumers. In an op-ed in the U.S. publication The Hill earlier this month, he said the levies would hurt "the American economy, many of its businesses and especially ordinary Americans by causing a new inflationary surge." 'We are very integrated' Véronique Proulx, head of the Quebec Federation of Chambers of Commerce, recently met with business leaders in the United States, and said Quebec and Canada need to be ready to respond. Those responses could include retaliatory tariffs on American imports, assistance to Canadian businesses and removing interprovincial trade barriers that hamper shipments between provinces. "We — the Quebec and Canadian government — need to look at the levers that they do have in hand," she said. Gilles Pelletier, head of the Quebec Furniture Manufacturers Association, said his industry will need to turn toward the market within Canada if the tariffs go into effect. But he said that would be a challenge, given that the United States accounts for a third of the sector's business and New York is far closer to Quebec than western Canada. "We are very integrated," he said. WATCH | How a tariff war with the U.S. might affect Quebecers: How a tariff war with the U.S. might affect Quebecers — including at the checkout counter 11 days ago Duration 3:04
