Editor's Note: This story was written prior to the late afternoon announcement that tariffs are being paused for 30 days.
The Sarnia-Lambton Chamber of Commerce is urging local businesses and consumers to remain confident in our Canadian economy in the wake of U.S. tariffs imposed on goods coming from Canada.
Board Chair Nicole Crosby said our supply chains are so deeply integrated, you can't unwind them overnight.
"They're integrated not simply because we are neighbours, but because it makes sense financially for both businesses and consumers on both sides of the border," said Crosby. "That being said, it's still too early to gauge the local reaction and the effects. We're going to be waiting and monitoring to see how things unfold over time and basically to assess the full impact as businesses begin to adjust."
After the U.S. imposed tariffs were announced, the Canadian dollar dropped to 68.20 cents U.S. Monday morning - its lowest level since 2003.
Crosby said they've yet to receive local concerns.
"In most cases, with a decreasing dollar, we may start to see more people supporting local businesses and also staying closer to home," she said.
Crosby thinks we could see more stores advertising Canadian-made items, as some started doing over the weekend.
"I think it is crucial to support local businesses and our economy. I think it's also going to be important to support all aspects of businesses where they rely on either imported goods or materials or even those that export primarily to the U.S.," Crosby said.
Prime Minister Justin Trudeau said Canada will be imposing its own 25 per cent tariffs on American goods starting Tuesday, the same day Ontario Premier Doug Ford has ordered the removal of American liquor from LCBO stores.
Ford also announced Ontario is "ripping up" a $100 million deal with Elon Musk's Starlink in the wake of the U.S. imposed tariffs.
Crosby said the retaliatory measures by Ford come as no surprise.
"He had been very vocal in what his intentions could be and would be if this took place, so I don't think it's surprising," Crosby said. "I think he's following through with what he had initially indicated."
Overall, Crosby said the situation is changing moment-by-moment, day-by-day, and minute-by-minute.
"It is still early and things are changing rapidly and continually. I think the biggest thing right now is to remain confident in our Canadian economy and our Canadian government and know that, as a chamber, we're going to be here to actively provide the resources and support our local businesses and help everybody navigate changes," Crosby said.