Maritime businesses feel the strain as Trump doubles steel and aluminum tariffs

Many Maritime industries are feeling the pressure of increased U.S. tariffs on steel and aluminum.

The general manager at Nova Scotia Sheet Metal Ltd. says the cost of doing business is rising. He said a recent invoice that would have cost $2,300 has jumped to $2,899 because of tariffs.

Unfortunately, Brian Carver is bracing for more. President Donald Trump has increased tariffs on aluminum and steel to 50 per cent.

“It is a lot more work because before the price was stable and you knew what your cost was and now, they jump up and you don’t even notice,” Carver says.

New Brunswick Premier Susan Holt says a number of companies in the province will suffer.

“We continue to be frustrated and concerned with the moves from the United States,” she said.

Trump’s tariff increase is imposed on all countries except the United Kingdom where they remain at 25 per cent.

“He’s also shown a wishy-washiness, right? They’re on their off, they’re going to double, they’re not. They’re doubling now, they’re off tomorrow. We’ve seen him do this with countries around the world,” Holt says.

The restaurant industry, already facing increased labour, insurance and food costs, is bracing for another financial blow.

Natasha Chestnut, the executive director of the Restaurant Association of Nova Scotia, says kitchen equipment, appliances, cast-iron, tools and packaging could all increase in price.

“If these expenses are going up and there’s nothing we can really do about that then how are we reducing expenses in other areas and finding ways to reduce costs?” Chestnut said.

Further price changes could result from Canada’s response. Canada’s federal industry minister Melanie Joly said those decisions will be announced soon.

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