ICBA ECONOMICS: CleanBC 2.5 Times More Damaging to Economy than Trump’s Tariffs

A new report from ICBA Economics delivers a stark warning: B.C.’s CleanBC climate plan will do more than 2.5 times the economic damage to our province as Donald Trump’s renewed tariff war.

The analysis, authored by ICBA Chief Economist Jock Finlayson and Consulting Economist Ken Peacock, estimates that Trump’s tariffs — along with Canadian retaliation — will carve $42.9 billion out of B.C.’s GDP by 2029. But CleanBC? It will strip away a staggering $109.7 billion in economic activity over the same period.

“CleanBC is a completely self-inflicted wound to our economy,” said ICBA President Chris Gardner. “The provincial government is warning British Columbians about Trump’s tariffs — and rightfully so. But their own climate plan is doing 2.5 times more damage.”

The report draws on the B.C. government’s own modelling . And while the NDP’s removal of the consumer-facing carbon tax may grab headlines, the report shows it has little economic impact. The real burden comes from escalating industrial carbon costs embedded in CleanBC.

ICBA is calling on the government to expand its CleanBC review panel to include full economic impact and cost-benefit analyses.

“We need smart, balanced climate policy,” said Gardner. “Right now, CleanBC is failing on both the economic and environmental fronts.”

Download the full report HERE.