But Flavio Volpe, president of the Automotive Parts Manufacturing Association, urged patience, saying the auto industry’s interests in Canada overlap with U.S. interests.
“We’ve gamed out the possibilities that he lumps Canada and Mexico issues together, we’ve been there before,” Volpe said.Â
“We are prepared and connected. Dare I say, many Canadians and many members of the current government are on friendly terms with their former Trump counterparts.”
Economic forecasters have been struggling for months to assess the potential impact of Trump’s tariffs on Canada.
Various projections have pegged the potential damage to Canada at anywhere from less than a half-point of GDP to a devastating five per cent.Â
That’s because the specifics of his plan have been unclear: he’s talked about a 10 per cent global tariff, but has sometimes changed the numbers around. It’s also unclear what he might exempt, such as energy products.Â
But this is the first time in years he’s threatened Canada, specifically, and certainly the first time he’s threatened a tariff this large on every product.Â
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Publish date : 2024-11-25 13:30:00
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