P.E.I. will 'continue to do business' with a Trump-led U.S.: Premier

What will the Donald Trump presidency mean for the Prince Edward Island economy? Premier Wade MacLauchlanweighed in Monday, a week after the surprising Republican win.

• A 'thick' glass ceiling: P.E.I. Status of Women chair disappointed in Trump win

• 'There could be impacts': Trump victory leaves P.E.I. business groups wondering

The United States is Canada's largest market for goods and services with more than $450 billion flowing across the border each year. P.E.I. exported more than $800 million in goods to the U.S. last year, MacLauchlan noted that's about one-eighth, "a very big part," of the Island's Gross Domestic Product.

Canada is open to having discussions about how we can improveNAFTA, and we'd certainly be very supportive of that. Wade MacLauchlan, P.E.I. Premier

"It remains to be seen what initiatives will be taken bilaterally between Canada and the United States, the federal government has the lead on that," MacLauchlan told reporters Monday.

"The prime minister has said openly that after 25 years ... Canada is open to having discussions about how we can improve NAFTA, and we'd certainly be very supportive of that," he said.

'America's interest first'

Trump campaigned on a pledge to renegotiate the North American Free Trade Agreement (NAFTA), calling it "the worst trade deal in history."

After his win, Trump said his administration will be willing to get along with "all other nations willing to get along with us."

"While we will always put America's interest first, we will deal fairly with everyone, all people and all other nations. We will seek common ground, not hostility, partnership not conflict," Trump said.

However, MacLauchlan is confident that a good trade relationship will be maintained even while conversations about changes to NAFTA are ongoing.

"I'll count on the federal government, which of course looks after that part of the relationship," said MacLauchlan. "From what I've seen to date, I believe it's been handled very well."

• What could Trump's victory mean for Canada?

• U.S. election: P.E.I. political scientist tries to make sense of Trump win

Important talks next summer

"Where there is value and where there are good relationships, we'll continue to do business,"MacLauchlansaid. "We're always good customers."

Governors from the northeastern states are meeting eastern Canadian premiers on P.E.I. for the first time to talk about business trade in August 2017, which will help the continued growth of exports in both directions,MacLauchlansaid. Those talks will include businesses from the U.S. meeting directly with Island businesses.

• MORE P.E.I. NEWS I5 things to watch for in the fall sitting of the P.E.I. legislature
• MORE P.E.I. NEWS I'A convent is a pretty good neighbour to have': Nuns moving to Summerside assure neighbours of no disruption