WASHINGTON — A new report from the Canadian Chamber of Commerce is sending a stark warning ahead of the U.S. presidential election, saying protectionist policies like Donald Trump's proposed tariffs could damage economies on both sides of the border.
WASHINGTON — A new report from the Canadian Chamber of Commerce is sending a stark warning ahead of the U.S. presidential election, saying protectionist policies like Donald Trump's proposed tariffs could damage economies on both sides of the border.
Both presidential candidates have campaigned on protectionist policies that could cause uncertainty for Canadian trade. Whoever takes the White House will be in charge during the review of the Canada-U.S.-Mexico agreement in 2026.
The report, which used models to estimate the impact of the tariffs if they become permanent, suggested the move would reduce the size of the Canadian economy between 0.9 and one per cent, resulting in around $30 billion per year in economic costs.Things would be even worse if other countries retaliated with tariff walls of their own. In that case, Canadian incomes would fall by 1.5 per cent and productivity by 1.6 per cent, the report said.
Nixon's tariff lasted only four months before it was reversed, but research has found it resulted in a 2.6 per cent reduction in total imports into the U.S. from Canada. The new report said the Canada-U.S. economic relationship is massive, deeply interconnected and mutually beneficial. There are also cross-border investments, as well as exports that are harder to track in services like tourism or technology.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian Chamber of Commerce sends stark warning about U.S. trade relationshipWASHINGTON — A new report from the Canadian Chamber of Commerce is sending a stark warning ahead of the U.S. presidential election, saying protectionist policies like Donald Trump's proposed tariffs could damage economies on both sides of the border.
Read more »
Canadian Chamber of Commerce sends stark warning about U.S. trade relationshipWASHINGTON — A new report from the Canadian Chamber of Commerce is sending a stark warning ahead of the U.S. presidential election, saying protectionist policies like Donald Trump's proposed tariffs could damage economies on both sides of the border.
Read more »
Merger considered by Burnaby Board of Trade and New West Chamber of CommerceThe Burnaby Board of Trade and the New West Chamber of Commerce are evaluating a joint future.
Read more »
CHEK among five new inductees into Greater Victoria Chamber Commerce’s Businesses Hall of FameCHEK Media joins another storied media outlet, a visionary philanthropist, community-minded grocers and a ground-breaking architect, as the 2024 inductees into the Greater Victoria Chamber of Commerce's Business Hall of Fame.
Read more »
In the news today: Canadian Chamber sends warning about Trump tariffsHere is a roundup of stories from The Canadian Press designed to bring you up to speed... Canadian Chamber sends warning about Trump tariffs A new report from the Canadian Chamber of Commerce is sending a stark warning ahead of the U.S.
Read more »
In the news today: Canadian Chamber sends warning about Trump tariffsHere is a roundup of stories from The Canadian Press designed to bring you up to speed... Canadian Chamber sends warning about Trump tariffs A new report from the Canadian Chamber of Commerce is sending a stark warning ahead of the U.S.
Read more »