P.E.I. in strong fiscal position to weather looming U.S. tariffs, premier says [Video]

With U.S. tariffs expected to come into effect soon, Dennis King says Prince Edward Island is in a good financial position to navigate the economic challenges ahead.

The P.E.I. premier announced during his state-of-the-province address this week that a new export enhancement and market development fund would be included in the upcoming 2025 budget.

King said the fund will support Island exporters amid the potential impacts of President Donald Trump’s proposed 25 per cent tariffs on the goods Canada exports to the U.S.

Trump is expected to announce the tariffs Saturday, according to White House Press Secretary Karoline Leavitt during a briefing Friday. 

‘We’re in a good position’

There have been some concerns about the P.E.I. government’s financial health.

In November, the province’s auditor general raised concerns in a report about rising debt levels and their impact on long-term fiscal sustainability. P.E.I.’s net debt has grown by 26 per cent over the last decade, reaching $2.65 billion as of March 31, 2024.

Tariffs …