Tariffs: Donald Trump Threatens 25% Duties on Canadian Goods
Thursday, 28 November 2024, 16:30
Economic Implications of Tariffs
Experts caution that a volley of tariffs between the U.S. and Canada could tip both countries into a recession and severely disrupt cross-border commerce between these key trading partners.
Canadian Response to Trump Tariffs
- A Canadian government official disclosed plans to explore retaliatory levies on certain U.S. imports.
- The official emphasized that no final decision has been made.
Trump threatens a 25% tariff on all goods from Canada and Mexico on his first day in office, suggesting that these duties are essential to curb undocumented immigration and illicit drug flow from these countries.
Consequences for the Economy
- Increased costs of goods imported from Canada.
- Higher gas prices predicted as a result of Trump's tariffs.
- Potential for retaliatory tariffs from other nations, such as Mexico.
As tensions rise, the market players must watch closely for the evolving situation.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.