Quebec businesses worried after Trudeau steps down, Trump inauguration looms

Business groups in Quebec are expressing heightened concerns as they navigate growing uncertainty surrounding upcoming changes in leadership and international relations.

With Justin Trudeau set to step down and Donald Trump’s inauguration as the U.S. president just two weeks away, many businesses are bracing for potential challenges, according to Veronique Proulx, president of the Quebec Federation of Chambers of Commerce.

“What we need right now, ideally, is very strong leadership,” Proulx stated, emphasizing the need for the federal government to effectively represent Quebec and Canadian businesses in dealings with the incoming U.S. administration. “We must ensure that a solid response plan is in place.”

The primary concern is not only the looming threat of 25 percent tariffs but also Trump’s plans to lower corporate taxes. Such measures could incentivize Canadian companies to invest more in the U.S., potentially reducing investments within Canada.

Christina Santini, head of national affairs at the Canadian Federation of Independent Business, called for efforts to reduce bureaucratic hurdles for small businesses. “They’re reducing red tape on the other side of the border, and we need to stay competitive,” she said. “We require a regulatory environment that supports businesses rather than holding them back.”

Proulx warned that the proposed tariffs could render many Quebec businesses uncompetitive. “Some companies are currently negotiating contracts with U.S. clients, who are raising questions about who will absorb the 25 percent tariff if it comes into effect,” she explained.

To address these concerns, Proulx urged the federal government to engage closely with the business community to ensure readiness for potential changes in trade and economic policies.