ST. JOHN'S, N.L. — Talk of a trade war between Canada and the United States raised alarm throughout the Atlantic provinces on Monday as leaders calculated the economic toll of hefty tariffs threatened by U.S. President Donald Trump.
ST. JOHN'S, N.L. — Talk of a trade war between Canada and the United States raised alarm throughout the Atlantic provinces on Monday as leaders calculated the economic toll of hefty tariffs threatened by U.S. President Donald Trump.
On Saturday, Trump signed executive orders calling for 25 per cent tariffs aimed at Mexico and Canada, which include a lower 10 per cent tariff on imported Canadian energy. Late Monday, Prime Minister Justin Trudeau said that after a phone call with Trump, the proposed U.S. tariffs on Canadian exports set to take effect Tuesday had been paused for at least 30 days.
Meanwhile, a group that represents energy producers, distributors and consumers in Atlantic Canada says a trade war could have a major impact on the fully integrated energy system that links the region with New England. “This trade war makes zero sense," said Michelle Robichaud, the centre's president."Consumers and businesses on both sides of the border will see higher energy prices and a step backwards in the energy security we all rely on .... There will be no winners."
American products will be taken off the shelves at Newfoundland and Labrador liquor stores at midnight, Premier Andrew Furey said.
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