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“They are our second largest provincial trading partner, and so when the Ontario economy is reduced or struggling that does have an impact here,� the premier told reporters.

Holt said New Brunswick businesses that sell goods and services to Ontario will be eligible for her government’s relief programs.

“As that large sector in Canada and in Ontario takes a hit like this … my worry is that we’re going to see a reduction in sales and demand for New Brunswick businesses,� she said.

Meanwhile, Holt expressed hope for “some measure of progress� on further tariffs that Trump has threatened will take effect on April 2.

“I will say, with a caveat that it (information) changes every few days, but we are optimistic that we will not be faced with a 25 per cent tariff across our economy, but rather a tariff at a reduced rate on a reduced list of goods,� she said.

However, she also warned that while it’s one thing to fight back against tariffs that are broadly based and also affect Americans, it would be quite another to deal with U.S. tariffs that are more narrowly focused on hurting Canada only.

“If they start to niche down to the things that have the least amount of impact in the U.S. and at a lower level that everyone just might learn to live with, that is concerning," she said. "I mean, we’ve been living with softwood lumber tariffs for quite some time.�

The premier also said the country’s premiers are in discussions with the federal government on the 25 per cent tariff on Canadian seafood and agricultural products that was imposed by China last week.

Holt noted there is pressure to reduce a 100-per-cent Canadian tariff on Chinese-made electric vehicles and a 25 per cent tariff on Chinese steel and aluminum to get some relief from China’s retaliatory tariffs. However, she said that won’t be easy because Canada’s tariffs were done in part to support the United States.

“There is concern that removing the tariff on Chinese vehicles will make our relationship and situation in negotiating with the U.S. worse,� said Holt. “So we are weighing options and evaluating what can be done to diminish or eliminate the Chinese tariffs, while still ensuring that our work to eliminate or reduce the U.S. tariffs is on the right track.�

Holt said that in addition to the announced federal income relief for fishers and farmers, her government is offering help to the seafood sector through a grant program for small and large businesses.

This report by °µÍø½ûÇø was first published March 27, 2025.

— By Keith Doucette in Halifax