Trade war between Canada, U.S. could cause pain for NHL: Gary Bettman [Video]

The commissioner of the National Hockey League, Gary Bettman, said any negative effects on the Canadian dollar caused by the Donald Trump administration’s tariffs could be “painful” for the league.

Speaking Wednesday on CNBC’s Squawk Box, Bettman said the NHL’s seven Canadian clubs perform well and account for 25 per cent of the league’s revenue.

But he said a drop in the Canadian dollar relative to its American counterpart could cause difficulties, as the Canadian teams pay their players in U.S. dollars.

A 25 per cent tariff on Canadian goods spearheaded by United States President Donald Trump went into effect early Tuesday morning and was met with retaliatory tariffs from Canada soon after.

Bettman, who said he has yet to speak to the Trump administration on the issue, said he has spent a lot of time in Canada over the past 30 years and that Canadians “love Americans.”

He said the current animosity relates to a “policy issue” with people …