STATEMENT | OFFICE OF THE MAYOR
FOR IMMEDIATE RELEASE
Cochrane Mayor Peter Politis | Cochrane, Ontario
705-272-9527; Peter.Politis@cochraneontario.com

RECENT TRADE DISRUPTIONS AND ECONOMIC IMPACT – On The Town of Cochrane, Ontario

February 11, 2025 – Cochrane, Ontario:  The recent trade disruptions associated to the United States and Canada have a far reaching and deep impact on municipalities who not only procure services from companies in the United States, but the industries and commercial trade our very viability depends upon.

Recent developments in international trade are poised to significantly impact communities across Canada, including the Town of Cochrane. The United States has proposed a 25% tariff on Canadian imports, a move that threatens to disrupt the longstanding trade relationship between our two nations. Although a temporary 30-day suspension has been granted following negotiations, the uncertainty surrounding these tariffs, and the radical signals coming from the United States government remains a serious concern.

The potential implementation of these tariffs could have far-reaching consequences for our local economy. Industries such as forestry, mining, electric vehicles, and agriculture—cornerstones of our region’s economy—may face increased costs, reduced market access, and lower investment confidence. This escalation could lead to higher prices for consumers and potential slowdowns in production activities. Additionally, the Canadian dollar has experienced a decline in the past several months and further depreciation could impact purchasing power and economic stability within our community.

In response, the Town of Cochrane and Council will take the following actions to mitigate these challenges:

1. Advocacy & Partnerships – We will actively lobby the provincial and federal governments to advocate for policies that protect our local industries and ensure fair trade agreements that benefit our region.
2. Economic Diversification & Local Investment – The Town will work with local businesses and economic development organizations to identify new market opportunities beyond the U.S. and support initiatives that encourage investment in our region.  The Town will also undertake a review of it’s own policies to ensure they effectively regulate and prioritize opportunities to do business locally and with Canadian goods and services.
3. Workforce Resilience – We will explore workforce development programs to help residents navigate potential job market shifts.
4. Infrastructure & Supply Chain Development – By investing in local infrastructure improvements and exploring new trade and transportation routes, we aim to enhance economic resilience and reduce dependence on traditional markets.
5. Public Engagement & Transparency – We will keep the Town informed on major developments if any when they occur.

As a community, it is crucial that we stay informed and take action to adapt to the evolving economic landscape. By working together and supporting local businesses and industries, we can strengthen our town’s economic resilience and safeguard the prosperity of Cochrane for the future.