Mayor Olivia Chow foreshadowed more action on the city’s “buy local” plan as U.S. President Donald Trump continued escalating his tariff threats.
On Friday, Chow gave a press conference at Toronto’s historic Cadbury chocolate factory in the west end, urging residents to celebrate Valentine’s Day by sticking it to the Americans.
“As President Trump threatens a senseless trade war, now is time to support locally made products and buy Canadian whenever we can,” she said. “As you’re thinking about giving something for your Valentine today, think about Canadian-made chocolate.”
This week, President Trump slapped 25 per cent tariffs on Canadian steel and aluminum, a slight walkback from the 25 per cent general tariffs he threatened in January.
On Feb. 13, Trump took another step toward reshaping global trade, announcing he would charge reciprocal tariffs that would match any tariff placed by other countries.
Chow’s plan also includes convening a roundtable of business and labour leaders to advise her on “strategies to protect the sectors of the economy most at risk, defend jobs and keep workers front and centre,” according to a press release.
On Friday, Chow said she’ll soon convene the first roundtable meeting and provide updates in short order.
“I’ll have more to say about when we’re meeting, what we’ll be talking about and the entire plan next week.”
In response to the original tariff salvo, Chow unveiled her plan to fight back earlier this month.
It includes potentially cancelling contracts with American companies and looking beyond the U.S. for future suppliers.
“Everything is on the table,” Chow said on Feb. 3.
But days later at a city council meeting, city manager Paul Johnson said less than 10 per cent of Toronto’s procurement comes from the U.S. but also warned a blanket ban “would not be prudent for the City of Toronto.”
Nonetheless, Chow said she directed Johnson to start “looking at all contracts, all procurement policies,” and come back to her with options.
At the unveiling of the plan on Feb. 3, Coun. Shelley Carroll, Toronto’s budget chief, said the recently passed city budget came at a good time because it could allow the city to leverage its spending plan to respond to whatever happens south of the border.
“There is ongoing procurement, but the big stuff comes after Feb. 11,” she said, referring to the date the budget passed.
Chow had also sought to assuage concerns surrounding the tariff’s impact on Toronto’s finances.
“We're building healthy reserve funds because we're worried about rainy days, and sure enough, rainy days are upon us.”
But the city “may have to tap into” its nearly $14-billion reserve fund to weather the storm, she said.
