Quebec Premier François Legault is meeting with several of the province’s financial heavyweights today as his administration readies its response to the tariffs set to be imposed by United States President Donald Trump.
Legault and some of his ministers are speaking with CEOs from a pair of banks as well as the heads of the province’s pension fund manager, investment arm and electric utility.
The meetings comes after Economy Minister Christine Fréchette told Radio-Canada the province is planning to impose a 25 percent penalty on American companies attempting to bid on Quebec government contracts, matching the 25 percent tariff the U.S. says it’s imposing on most Canadian goods starting Tuesday.
She said in the radio interview that the penalty Quebec is planning to impose would make it all but impossible for American companies to be selected because it would increase their bids by 25 percent.
The Quebec government previously confirmed that the province’s liquor board will stop selling American products as of Tuesday and won’t supply them to bars or restaurants.
Montreal’s mayor confirmed today that the city is preparing its own response to the tariffs, including potentially imposing its own 25 percent penalty on American suppliers who bid on municipal contracts.
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