Can Canada avoid Trump tariffs? Likely some, but not all: ex-envoy – National
Canada’s former ambassador to the United States says he’s confident Ottawa can avoid the worst of the tariff threats proposed by U.S. president-elect Donald Trump, but that Canada won’t be completely unscathed.
Frank McKenna, who is now deputy chair at TD Securities, said he believes the incoming president is looking to use money from tariffs to lower American taxes but that Trump’s 25 per cent tariff is likely “a throwaway number” meant to act as a bargaining tactic ahead of his inauguration.“If he were to actually put 25 per cent tariffs against all Canadian goods and all Mexican goods, that would be enough to precipitate inflation in the United States of America and probably cause a spike in the dollar, which would undermine what he’s trying to do,” McKenna told Global News.“There is a ...