Nova Scotia premier says $50M contingency fund unspent as businesses brace for U.S. tariffs Premier Tim Houston says Nova Scotia is talking with businesses bracing for the U.S. trade war, but a $50-million contingency fund remains untouched. He warns the dispute could last as long as Donald Trump is president, while Mark Carney says Canada’s pivot from the U.S. will cost less than standing still. HALIFAX — Nova Scotia Premier Tim Houston says his government is in talks with businesses bracing for effects of the U.S.-Canada trade war, but none of the province’s $50-million contingency fund has been spent. His comments at the legislature on Tuesday, Sept. 8, came as Prime Minister Mark Carney delivered a national video address. Houston told reporters it is hard to articulate how stressful the moment is for business owners.'Some of these are small, medium-sized businesses that have been in the family for generations. And this is not of their doing, it’s something happening to them,' he said. Businesses in Nova Scotia’s agriculture, seafood and manufacturing sectors are preparing for possible effects on supply chains, customer bases and workforces. The $50-million contingency fund was introduced in the last provincial budget.Houston said no money has been spent and the fund could be used 'as needed.' He added: 'We just need to make sure that we’re listening carefully to businesses. This could be a longer term situation than any of us appreciate, so I think we need to be mindful of that too.' The dispute began with U.S. President Donald Trump placing new 50 per cent tariffs in August on nearly $28 billion worth of Canadian goods, from hockey sticks and cement to honey. Canada imposed tariffs in response. Canada’s tariffs range from 15 to 50 per cent. They target only products that were on the U.S. list and match the dollar value of the exports at $27.8 billion.Dairy products, plywood and sunscreen are among the goods covered by Canada’s response. Nova Scotia’s agriculture, seafood and manufacturing sectors are among those threatened by the trade war. Houston said he believes the situation could continue as long as Trump remains in power.'I believe there is a risk that the situation could be there as long as Donald Trump is there,' he said. In a national video address released Tuesday, Prime Minister Mark Carney warned Canadians that the country’s pivot away from the United States will come at a cost. He said the alternative would be far worse and outlined a plan to strike new trade deals with other countries.'That pivot will come at a cost. There’s always a cost to action. But it doesn’t come close to the cost of standing still,' Carney said. Houston said the trade fight could become longer term than many people appreciate, and the province will keep listening to businesses before deciding whether to draw on the contingency fund.