OTTAWA — The National Bank of Canada says the impact of new American tariffs on steel and aluminum will vary sharply from province to province, because of regional concentrations. Some comparisons:
Steel exports to the U.S. over the last 12 months
Ontario: $5.8 billion.
Quebec: $1 billion
B.C.: $0.3 billion
Other provinces: $0.3 billion
Aluminum exports to the U.S. over the last 12 months
Quebec: $7.2 billion
Ontario: $2.9 billion
B.C.: $0.7 billion
Other provinces: $0.2 billion
The bank says Canadian steel and aluminum exports to the U.S. represent less than five per cent of Canadian exports to that country and less than one per cent of Canadian GDP.
Quote: “This latest stunt from the U.S. will hardly break the Canadian economy.”
The Canadian Press