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Tariff Relief on the Horizon? Premiers Say Talks With PM Went Well

Post By Qayyum Rajan, CFA
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Prime Minister Mark Carney left, meets with New Brunswick Premier Susan Holt in her office in Fredericton, N.B., on Monday, Nov. 10, 2025. THE CANADIAN PRESS/Stephen MacGillivray (Stephen MacGillivray)

OTTAWA — New Brunswick Premier Susan Holt said premiers had a “productive” meeting with Prime Minister Mark Carney on Monday, mainly to discuss the federal budget and progress on tariff talks with the United States.

Noting the impact of U.S. tariffs on New Brunswick, Holt told reporters the group spoke about the plight of the softwood lumber industry and Carney indicated a “significant” new package is coming from the federal government.

Ontario Premier Doug Ford also hinted that an announcement on steel and softwood lumber will be coming in the next “week or so.”

The Canadian Press has reached out to the Prime Minister’s Office for more details but has yet to receive a response.

“We talked about the budget, which was positive,” Ford told reporters Monday. “Told him we’re light on the infrastructure but I believe that’s going to be coming, an announcement on steel and softwood lumber that affects Ontario in a big way.”

A spokesperson with Ford’s media relations office said in an email that federal funding on infrastructure is in large part “not net-new and simply not enough in comparison to how much we are investing in infrastructure — over $200 billion.”

The virtual meeting Monday morning was the first since U.S. President Donald Trump halted trade talks between the two countries over an anti-tariff ad Ford’s government ran in U.S. markets.

Ford was asked at Monday’s press conference whether the prime minister had asked the premiers not to run any more trade ads in the U.S.

“He didn’t say anything along those lines,” Ford said.

Holt said Carney and the premiers also discussed other trade relationships at the meeting.

She said Carney committed to engaging with the premiers through regular meetings.

A press release from the Prime Minister’s Office said Monday the prime minister and the premiers intend to meet in person in the new year.

Ahead of Monday’s budget vote, Holt was asked if she would like to see an early federal election. The premier said the budget offers “good things” for New Brunswick and there aren’t many people in her province who want to go to the polls in the middle of the winter.

“We know that ties up resources and energy and I think folks want us to get on with it,” Holt said. “We’re in the middle of a trade war. We need to put our focus on growing our economy.”

Ford said he hopes the federal budget passes and that it’s in the best interest of the country for people to work together regardless of their political stripe.

This report by The Canadian Press was first published Nov. 17, 2025.

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Qayyum Rajan, CFA
Written by

Qayyum Rajan, CFA

Qayyum is the CEO of Wealth Awesome, a leading Canadian personal finance publication. As a CFA charterholder with extensive experience in fintech, data science, and quantitative finance, he brings a unique analytical perspective to investing and wealth management.

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Published: November 19, 2025
Last Updated: January 8, 2026

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