Catastrophic flooding in British Columbia could result in shortage of consumer goods, higher diesel and gasoline prices, and an added wrench in Canada’s manufacturing supply chains at a time when global trade is already facing record logjams tied to the economic recovery from the COVID-19 pandemic.
B.C. Premier John Horgan declared a state of emergency on Wednesday, after flooding devastated the southern part of the province.
Washouts and landslides have halted railway access to the Port of Vancouver, Canada’s largest maritime hub, which handles $240 billion of trade in goods annually.
Torrential rains have also cut off major transport routes between B.C.’s Lower Mainland and the province’s interior. Read more: B.C.