Building provincial budget in face of tariff threat ‘challenging’: Scott Moe

Questions continue to float around about whether U.S. President Donald Trump will implement tariffs on Canada.

Meanwhile in Saskatchewan, the provincial government is in the middle of trying to put together its 2025-2026 budget.

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• Premier Scott Moe reflects on 2024 and looks ahead to 2025

A 25 per cent across-the-board tariff on Canadian exports to the U.S., which Trump has threatened to put in place as early as February 1, would be “devastating” to the economy, Premier Scott Moe has said.

The provincial budget includes estimates and projections for the coming year for areas like export revenue and natural resources revenue. A one-dollar change in the market price of a barrel of oil can mean millions to the province’s coffers. In 2023, Saskatchewan sent $27 billion in exports to the U.S., more than half of the province’s total exports.

Moe said last week that building a budget with a tariff threat looming is challenging.

“It certainly is challenging, and it certainly is providing a significant amount of uncertainty into the business and I would say, most importantly, the investment environment in Saskatchewan,” said Moe.

The premier said there has been significant variability in almost every budget he’s been involved in for the last six or seven years.

Moe said he’s been focused on stopping the tariffs from being slapped on Canadian exports, and if the tariffs are imposed, his goal to have them removed as quickly as possible.

Earlier this month, Moe unveiled the Saskatchewan Border Plan, an effort to strengthen the border with the United States in response to issues raised by Trump.

The provincial budget is usually tabled in the third week of March.