Interview: The Impact of Economic Uncertainty on Local Businesses with Vanessa Limage on the show “Ça vaut le retour” on Radio-Canada Ohdio
Abitibi-Témiscamingue Facing Tariff Threats:
A Resilient and Well-Diversified Region The threat of new tariffs being imposed by the United States does not seem to perturb the business community in Abitibi-Témiscamingue. According to Valérie Lemay, Executive Director of 48e Nord International, the region is facing this uncertainty with calmness, thanks to the diversification of local businesses’ markets. This resilience is particularly visible in industrial sectors like mining, which benefits from a well-established international presence.
A Region Already Prepared for Diversification
Abitibi-Témiscamingue is a region where diversification is not a new concept. Indeed, several local businesses, especially in the mining industry, already have a significant international presence, notably in Africa, South America, and Australia. Valérie Lemay highlights that this strategic international positioning has allowed local businesses not to rely exclusively on the American market.
“I was pleasantly surprised to see that, despite the current climate of uncertainty and unpredictability, the businesses were already very well diversified. Our entrepreneurs know how to adapt and face challenges. They are used to this kind of situation,” she says.
This proactive strategy allows businesses in the region to reduce their vulnerability to international trade tensions and ensure greater economic stability.
Expected Impacts, but Strengthened Resilience
Although diversification is a major asset, some entrepreneurs in the region still expect impacts related to the potential imposition of tariffs. Nancy Boucher, Vice-President of the Board of 48e Nord International and Co-Founder of Squizz Distribution, notes that her company, although diversified, still depends on the United States for the supply of certain raw materials and equipment. However, she has taken steps to limit the impact of these new threats by exploring new suppliers in Europe.
“We are in the process of seeking other sources of supply in Europe, but I believe that the impact of the tariffs will be more visible starting in the spring. It is a situation to be closely monitored,” she notes.
Economic uncertainty is real, but the will to adapt is strong. Businesses in the region seem ready to meet challenges by seeking alternative solutions, demonstrating their flexibility and ability to navigate uncertain waters.
A Region More Than Ever Ready to Face Turbulence
In short, Abitibi-Témiscamingue faces the threats of tariffs with a certain peace of mind. Local businesses, whether rooted in industries like mining or other sectors like distribution, have shown great adaptability. Thanks to their diversification strategy, they manage to limit the risks associated with dependence on the American market. In these uncertain times, this resilience is a valuable asset for the region.
While spring may bring its own challenges, Abitibi-Témiscamingue stands out for its initiative and willingness to prepare for any eventual changes.
Listen to the full interview here.
The team at 48e Nord International wishes to reaffirm its commitment to supporting exporting businesses in Abitibi-Témiscamingue and those in Quebec’s mining sector in their export challenges. To contact us, click here.
