7 things about US-Canada trade ties as Trump threatens partners with 25% tariff
3 weeks, 5 days ago

7 things about US-Canada trade ties as Trump threatens partners with 25% tariff

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Trump’s tariff announcement combines two of his cornerstone policies: protectionism and hardline immigration measures. However, experts argue that these tariffs would not only strain diplomatic ties but also inflict financial harm on US consumers and businesses reliant on cross-border trade President-elect Donald Trump has vowed to impose a 25 per cent tariff on goods from Canada and Mexico on his first day back in the White House, tying the move to efforts to halt illegal migration and fentanyl trafficking. The proposed tariffs, announced on Monday, could severely strain trade relationships and spark economic challenges for both Canada and the US Here are 7 key things to know about US-Canada trade ties as this controversial proposal looms: Deeply-integrated relationship Canada and the US share one of the most comprehensive trading partnership globally, with goods and services worth $3.6 billion crossing their border daily in 2023. Tariffs could disrupt this vital energy supply chain, driving up gasoline prices for US consumers and threatening Canada’s energy sector. However, experts argue that these tariffs would not only strain diplomatic ties but also inflict financial harm on US consumers and businesses reliant on cross-border trade.

History of this topic

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