Building ferries in BC would help in battle against US tariffs
Labour economist Jim Stanford has emphasized the importance of building ferries in British Columbia to shield the province from economic challenges posed by the United States. Stanford, a co-author of a recent report, highlighted the need for a strategic focus on domestic shipbuilding to overcome hurdles such as steep American tariffs.
Rebooting Domestic Shipbuilding
The report, commissioned by a coalition of unions and industry leaders, underlines the benefits of constructing ferries locally instead of procuring them from overseas. It points out that building ferries within Canada would not only support the local economy but also help counter the impact of tariffs imposed by U.S. President Donald Trump.
Recommendations for Future Growth
Stanford advocates for the development of a comprehensive shipbuilding strategy in British Columbia. The report suggests forming a task force involving various stakeholders to facilitate the growth of the shipbuilding industry. Additionally, it proposes creating a consortium with shipyards and investors to undertake complex projects collectively.
In response to the report, BC Ferries defended its decision to purchase vessels from China, citing cost considerations and the need for timely replacements. However, the province is urged to explore avenues for increasing domestic shipbuilding capacity and maximizing local procurement opportunities.
Premier David Eby has expressed a commitment to sourcing future vessels domestically, aligning with the province’s efforts to bolster the shipping sector. The focus is on enhancing workforce training and apprenticeships in shipbuilding to meet the growing demand for ferries and marine vessels in Canada.
As British Columbia aims to strengthen its maritime industry, collaboration with the federal government and industry partners is crucial. The government’s dedication to supporting local shipbuilding endeavors underscores the province’s potential to become a key player in the marine sector, benefiting from increased military spending and economic growth opportunities.
