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FREDERICTON — New Brunswick’s government is warning of tough economic times ahead because of U.S. tariffs, but says its plan to exploit critical minerals and diversify markets will help the province get through the challenges.
In a throne speech on Tuesday to open the new session of the legislature, Lt.-Gov. Louise Imbeault said that because of tariffs, the province is no longer experiencing the revenue windfalls it once did.
“Growth is slowing. Costs are rising. Investment patterns are shifting,” the government said in the speech delivered by Imbeault.
President Donald Trump has targeted the lumber, steel, aluminum, auto, and energy sectors with duties even though most Canadian goods are protected from tariffs under the North American free-trade deal.
In response, the government said it is modernizing the ports of Saint John and Belledune and increasing trade with Europe, the Middle East, Hong Kong and India. As well, the speech said New Brunswick has 21 of the 34 minerals that the federal government lists as critical to the country’s future prosperity and that the province is developing a strategy to exploit those resources.
The throne speech also noted that the Sisson Mine, located 60 kilometres northwest of Fredericton, is home to one of the largest undeveloped tungsten deposits in the world. It also has a significant amount of molybdenum, it added. Both are on Ottawa’s list of critical minerals whose supply chain is threatened and whose production is essential to Canada’s national security. Developing the Sisson Mine will result in hundreds of jobs, the speech said.
Most of the throne speech listed the government’s achievements over the past year such as a three per cent freeze on rent increases, and the creation of collaborative health clinics — where doctors, nurses and other health-care providers work together in teams.
Premier Susan Holt acknowledged to reporters that “tough decisions” are coming but the government will be focused on people’s needs such as improving health care. “The economic forecasts have shifted,” she said.
“We’re looking to balance as tightly as possible the investments that New Brunswickers need in their access to doctors and nurse practitioners in primary care, what they’re asking us for on affordability, what we need to do to create good paying jobs in this economy.”
Progressive Conservative Opposition Leader Glen Savoie argued the speech was filled with “spin and a whole lot of jargon,” and reflected the fact that the government in one year since taking office hasn’t tangibly improved health care, education, and affordability.
The government “likes to blame a whole lot of other people for a whole lot of things,” Savoie said, adding that he’s not surprised the Liberals are blaming the tariffs for a slowdown in economic growth.
Green Leader David Coon said the speech focused on what the Liberals did in the past year but deliberately avoided financial commitments for the future, a sign of a looming austerity budget.
The government lacks bold ideas in the face of upheaval from tariffs that could spur economic development, Coon said. “Where’s the new thinking on economic development? It’s not there.”
This report by The Canadian Press was first published Oct. 21, 2025.
Hina Alam, The Canadian Press
