It’s ‘heartbreaking’ but we’re not as vulnerable to US trade war as others: Kelowna Chamber president

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“When the threat was made – months ago now – we knew we had to brace for it,” Harvey said. “That strong friendship and partnership that we’ve been taking for granted for a long time is broken, is damaged. It’s a sad day because we’re going backwards instead of forwards.”

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She said the diversification of Canada’s trade is now paramount as the country seeks new markets and becomes less reliant on the U.S. for future economic growth. That involves major and challenging shifts in domestic trade too.

“What everyone has been talking about is trying to reduce those inter-provincial trade barriers, which seems like a no-brainer, but we’ve been struggling with that for decades,” she explained.

Asked about the specific economic threat facing Kelowna and region, she said while we are part of the bigger national picture, the local impacts would not be as immediate as for those parts of Canada with a strong integrated connection to the U.S. like Ontario and the auto sector.

“The region doesn’t look too bad,” she said. “The Canadian Chamber did an analysis of the most vulnerable regions in the country and we’re not among the worst. We rank about, I think, 21 out of 40. It means we’re not overly reliant on the U.S. as a trading partner and as an export destination.”

Harvey said that suggests we’re probably well diversified as a local economy but added we’re not isolated and there will be consequences from the trade war.

She added it’s possible we will see a boost in domestic visitation this year as many decide to stop their trips south of the border, but uncertainty remains.

“Yes, we anticipate a bit more interest in domestic travel and why not Kelowna?” she said. “The issue here is the uncertainty that prevails right now. Are Canadians going to want to spend money on travelling this year? Hopefully they will, and it’s up to us – and we have extremely competent people who are able to do this – to promote the region as an outstanding tourist destination.”

The Kelowna Chamber will host a Tariff Threat Response Panel involving local experts and a Q and A session at the UBCO University Centre Ballroom at 2 p.m. Wednesday, March 5.