University of Calgary economist says US tariffs could cost both countries [Video]

University of Calgary economics professor, Trevor Tombe, discusses the upcoming US election and its potential impact on the Canadian economy.

This interview has been edited for clarity and length.

Michael Higgins: Your report raises a red flag about protectionist policies, but is it just Donald Trump who Canadians should be paying attention to?

Trevor Tombe: You’re right that both parties have taken a more protectionist stance on a number of policy files and have under successive administrations. Softwood lumber that would have been escalated under President Biden, that’s a fight we’ve been having for quite some time. Or issues around procurement, or the ability of Canadian companies to be involved in some of the new initiatives south of the border through the Inflation Reduction Act, and subsidies for certain climate-related investments in the United States. That’s all run of the mill, normal trade tensions between two large economies.

What’s new in this campaign south of the border is the proposal from former President …