SASKATCHEWAN NDP CALLS FOR ACTION AS MARKET CRASH HITS PROVINCE HARD

For immediate release: April 8, 2025

CURRENT SASK. PARTY LEADER SAYS SASKATCHEWAN IS IN A “RELATIVELY POSITIVE” POSITION, ONLY NOW CONSIDERING RESPONSE PLAN

REGINA — The Saskatchewan NDP is calling out the Sask. Party for sugarcoating the serious economic challenges facing Saskatchewan and for failing to present a real plan to protect jobs, savings, and producers from the fallout of global tariffs and market volatility.

For three straight days, in the wake of Donald Trump’s devastating tariffs, global stock markets have been in freefall, wiping out trillions in value. Saskatchewan families are watching their retirement savings shrink, while oil prices have dropped by more than $10 a barrel from the government's projections to under $60 — putting even more pressure on an already shaky provincial budget. If those oil prices hold, it would cost Saskatchewan government approximately $180 million.

At a press conference in Saskatoon, Premier Scott Moe recently claimed that Saskatchewan is in a “relatively positive” position when it comes to tariffs, despite tariffs on steel, canola, peas, and pork.

At the Food, Fuel and Fertilizer Convention this morning, Moe suggested that his government is only now considering a response plan and has only recently reached out to Chinese officials, despite the trade war threatening the province for months.

“Markets are crashing, oil’s down, and people’s savings are evaporating,” said Trent Wotherspoon, Saskatchewan NDP Shadow Finance Minister. “If the Premier thinks this is positive, he’s completely out of touch.”

“The Sask. Party budget is bogus. It doesn’t reflect what Saskatchewan families are actually going through. We need a real plan with real numbers, not spin.”

Trade and Export Development Shadow Minister Kim Breckner added that rising tariff tensions are already discouraging investment and pushing Canadian companies to consider moving operations to the U.S. There currently are tariffs on Saskatchewan steel from the U.S. and canola from China.

“The threat of tariffs alone is enough to scare off investors,” Breckner said. “We need to be expanding trade through new rail lines, pipelines, power lines and highways, not watching opportunities slip away.”

“Other provinces are stepping up. Saskatchewan can’t afford to sit back while our economy takes the hit. It’s time to focus on the future."

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