U.S. President-elect Donald Trump's threats to impose economic sanctions on Canada and manipulate its trade policies have raised significant concerns among Canadian business leaders and experts.
Incoming U.S. president Donald Trump ’s threats to use “economic force” against Canada and its industries are sparking worry and disbelief. Speaking at a press conference Tuesday, Trump said he could use economic levers to push Canada toward becoming part of the United States, while also once again raising issues with the trade deficit and saying the U.S. doesn’t need to buy Canadian lumber, dairy or automobiles.
Flavio Volpe, president of the Automotive Parts Manufacturers' Association, said Trump’s comments show he doesn’t understand how interconnected the Canada-U.S. auto business is.Trump has threatened to impose a 25 per cent tariff on goods coming in from Canada and Mexico, citing border security concerns. Volpe said the threat is madness and would lead to immediate pushback by U.S. automakers and their shareholders through court action and other means. Trump’s wider comments about Canada becoming part of the U.S., along with his statements about seizing the Panama Canal and Greenland, show he wants to sow chaos, said Volpe.He said the threats raise issues bigger than the Canadian parts sector and the automotive sector itself. “This is much, much bigger than a tool maker in Windsor or a blow-moulded plastic supplier in Markham,” said Volpe.Trump on Tuesday characterized the U.S.‘s trade deficit with Canada as a subsidy, a comment he’s made before.Mount Royal University political scientist Duane Bratt said Trump’s comments demonstrate that he doesn’t understand trade. “(Trump) sees it like a balance sheet. If they don’t need Canadian goods, why would they keep buying Canadian goods? It’s not a subsidy,” said Brat
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