Canada’s business community is looking anxiously south of the border as Donald Trump gets ready to take the oath as U.S. president for the second time — and urging governments to get serious about mitigating the impacts by trading more between provinces.
Trump has threatened to impose 25 per cent tariffs on Canadian goods coming into the U.S., with a government source familiar with Ottawa’s plans telling Global News on Friday that if the U.S. acts, Prime Minister Justin Trudeau will announce a rapid consultation period – possibly two weeks – on a first round of tariffs that would cover approximately $37-billion of U.S. imports, with implementation to follow immediately after.
These would be the least painful counter-tariffs, the source said, because they would cause the least economic damage to Canadians.
Depending on how hefty initial U.S. tariffs on Canada are, Trudeau may also announce consultations on tariffs covering another $110 billion …