TIMMINS - Concerns are growing over the financial strain caused by the trade war.
The Cochrane District Services Board (CDSB) is warning of the potential impact of tariffs on essential services such as child care, housing, and paramedic services.
“Obviously the situation with tariffs is still evolving, but just the uncertainty alone is impacting the markets, which has a negative effect on our investments and our interest revenue. So there's already a loss incurred,” CAO Brian Marks said at the March 20 meeting.
“As far as services go, as costs increase resulting from the tariffs, people will be forced to make choices — food over rent, transportation over child care costs, etc.”
On March 12 the Trump administration implemented a 25 per cent tariff on global steel and aluminum imports.
The affected products span various sectors, including steel, aluminum, and consumer goods. Further tariffs are expected on April 2.
SEE: Timmins MPP mum on tariffs amid growing trade tensions
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Several reports included in Thursday’s agenda outline key areas where financial challenges are anticipated, though no dollar figures were attached.
Rising costs for building materials are expected to make affordable housing projects more expensive, delaying construction and increasing maintenance costs.
The financial strain could lead to a rise in homelessness, creating a higher demand for CDSB’s housing support services.
Paramedic services could also be affected, with the cost of ambulances, medical equipment, and consumables such as IV fluids and defibrillators expected to increase, potentially leading to budget adjustments.
Children’s services are another area of concern. Childcare operators are already seeing higher prices for food, cleaning supplies, and facility maintenance.
Without additional government subsidies, childcare fees may rise, making it more difficult for families to afford care. Facility upgrades and expansions that rely on government funding could also be delayed due to rising costs.
The reports also highlight potential supply chain disruptions.
Some contractors are now including disclaimers in their project bids, stating that any tariff-related price increases will be the responsibility of the project owners.
The rising cost of building materials and repair parts could lead to delays in municipal and CDSB-led projects.
Key industries in Ontario, such as mining, forestry, and manufacturing, may see job losses as a result of the tariffs, leading to increased reliance on social assistance programs.
“The full impacts are yet to be determined, but they are to be expected,” Marks said.