Canadian manufacturers and exporters urged decisive action to protect the manufacturing sector from potential U.S. tariffs proposed by President-elect Donald Trump. A recent survey by CME revealed that 90% of manufacturers expect significant impacts from the tariffs.
Trump’s threats include 25% tariffs on Canada and Mexico, which could disrupt markets for autos, lumber and oil.
The survey also indicated that 48% of manufacturers foresee layoffs or hiring freezes in the event of tariffs.
The letter from Canadian industry groups emphasizes that retaliatory measures should be strategic and in consultation with industry to reduce collateral damage.
U.S. lawmakers, including Reps. Suzan DelBene and Don Beyler, introduced legislation to counteract Trump’s tariff plans, calling them a nationwide sales tax on foreign goods.
