Monthly Archives: March 2025
Confronting significant trade challenges
Saint John, New Brunswick, is confronting significant trade challenges, with the oil industry bearing the brunt of the impact. The recent imposition of 25% tariffs by the United States on Canadian goods threatens to disrupt the city’s economic stability, particularly affecting its pivotal oil sector.
Home to Canada’s largest oil refinery, Irving Oil, Saint John’s economy is deeply intertwined with the energy sector. The refinery processes over 320,000 barrels daily, with more than 80% exported to the U.S. These tariffs could lead to increased costs for U.S. consumers and jeopardize energy security across the region.
The Atlantica Centre for Energy emphasizes that the integrated energy systems of Atlantic Canada and New England are at risk. The Centre warns that consumers and businesses on both sides of the border may face higher energy prices, undermining the energy security that both regions rely on.
Local leaders express concern over the potential economic repercussions. Fraser Walls, board chair of the Saint John Chamber of Commerce, fears a multi-billion dollar impact on the local economy, noting that in 2023, New Brunswick exported $15.5 billion worth of goods to the U.S., with a significant portion originating from Saint John.
The situation underscores the need for collaborative efforts between government and industry leaders to resolve these trade disputes. Protecting Saint John’s economic future requires safeguarding its vital oil industry and maintaining the longstanding trade relationships that have benefited both Canada and the United States.
N.B. Moves to Scrap Barriers on Alcohol:
N.B. Moves to Scrap Interprovincial Barriers on Alcohol: A Win for Consumers and Businesses
New Brunswick (N.B.) is taking a major step toward eliminating interprovincial trade barriers on alcohol, a move that could have significant benefits for consumers, producers, and the economy. Currently, restrictions on transporting alcohol across provincial borders create unnecessary red tape, limiting choice and driving up costs.
By removing these barriers, N.B. aligns with ongoing efforts across Canada to modernize liquor laws and encourage freer trade between provinces. This change could mean better access to a wider variety of products, more competitive pricing, and greater opportunities for local brewers, wineries, and distilleries to expand their markets.
For years, interprovincial alcohol restrictions have been a contentious issue, with court cases and political debates highlighting the need for reform. This move by N.B. signals progress toward a more open and consumer-friendly system.
Inflation went up in February
Inflation went up last month.
The rate shot to 2.6 percent year-over-year in February.
That’s up from the 1.9 percent increase in January.
Statistics Canada says the end of the GST holiday put pressure on the prices of eligible products.
Prices for food at restaurants declined at a slower pace year-over-year, but contributed the most to the overall price-index.
The numbers don’t reflect tariffs from the United States or counter-tariffs from Canada.