U.S. tariffs potentially devastating for Canadian businesses: report [Video]

OTTAWA –

The tariffs threatened by U.S. president-elect Donald Trump could be potentially devastating for Canadian businesses and workers, said a new survey by lobby group Canadian Manufacturers and Exporters.

The report released Thursday found nearly nine in 10 of the more than 300 Canadian manufacturers surveyed would face significant or very severe impacts if the U.S. imposes tariffs on Canadian imports.

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“These findings show why we need an urgent and co-ordinated response from governments to protect manufacturing businesses, workers and families,” said Dennis Darby, chief executive of CME, in a statement.

“Failure to do so will be devastating to our economy.”

Trump has threatened to impose a 25 per cent tariff on all imports from Canada and Mexico once he takes power next month if the countries do not stop the flow of migrants and illegal …