Now that Donald Trump has been re-elected as president of the U.S., Canada is bracing for a trade war with its biggest export customer. Damage will be done to Canada’s $900-billion (U.S.) trade relationship with the United States.
There will be harm on both sides of the border if Trump proceeds with his avowed imposition of a 10-per-cent to 20-per-cent tariff on U.S. imports.
Trump’s tariffs on Canadian steel and aluminum in his first presidential term were just a warm-up for what he is now poised to do — impose an across-the-board surtax on all U.S. imports. In a Fox News interview last month, Trump was asked what he will do with the United States-Mexico-Canada Agreement (USMCA), successor to the North American Free Trade Agreement (NAFTA). The USMCA comes up for “renewal consideration” in 2026.
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