The man who led Canada’s trade negotiating team during Donald Trump’s first term said the US President-elect “likes tariffs even more now” and will be less constrained about about using them in his second.
Brian Platt, Bloomberg NewsTrump has pledged to cut American energy bills in half within 18 months, something that could be made harder if a 25% premium is added to Canadian oil imports
But if the Trump administration tries to levy tariffs on all manufactured goods from Canada, but not oil and agricultural commodities, Canada has a card it can play — it can place export levies on those goods as a negotiating tactic, said Verheul, who’s now a private consultant. Such a move would likely be a last resort for Canada, which would find its economy in a tough spot if Trump were to follow through with tariffs at that level.
Tariffs of 25% against Canada and Mexico would leave the two North American trading partners in a worse position for exporting to the US market than other members of the World Trade Organization, Verheul said. “We would really be in a place where only Russia, North Korea and a handful of other countries would have worse access.”
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