A Saint John-based steel manufacturer is getting support from the federal government to deal with tariffs.
Ocean Steel and Construction received a $750,000-investment from the Regional Tariff Response Initiative.
Ocean Steel and Construction is part of Ocean Capital, the parent company of Acadia Broadcasting.
The RTRI is a $1.5-billion national investment to help Canadian businesses respond to global trade pressures, strengthen productivity, and build long-term competitiveness.
OSCO Construction Group president Hans Klohn said in the past, the company was exporting 100 per cent of its product to the United States.
“I guess with the political climate and what have you, we were getting a little uncomfortable that that was not a good business model,” he said.
Klohn added the investment will help strengthen operations and keep people employed in New Brunswick.
“By modernizing our facilities, we’re increasing efficiency, and building Ocean Steel and Construction’s capacity to compete across North America as demand continues to grow,” he said.
“We are prioritizing this work to support steel manufacturing jobs and long-term growth in the region.”
Saint John-Kennebecasis MP Wayne Long said Canada needs to diversify in terms of trading partners.
“The days of us being just so reliant on the United States are over,” Long said. “And we need to find new trading partners abroad.”
Long added that there’s also a need to strengthen trade within Canada.
“Everybody in this country, every industry in this country is seized with the importance of working together, standing together, and building our own economy,” he said.
