Live: Trump in tariff tit-for-tat with China; duties on Canada, Mexico paused for one month
Bloomberg reports:
A last-minute deal to head off a trade war between the US and Canada has given investors a temporary reprieve, but Canadian leaders are warning about the high-stakes negotiations ahead.
The agreement merely kicked the tariff threat 30 days down the road. Trump said the next month will be used “to see whether or not a final economic deal with Canada can be structured.”
As long as potential tariffs hang over the Canadian economy, economists, businesspeople, and government leaders see the risk that investment will be pulled south.
“Mr. Trump’s strategy around this is deliberate: It’s an intention to destroy Canada’s economy and to drive us into becoming the 51st state,” David Eby, premier of British Columbia, told reporters Monday. He called it “reprehensible, inexplicable, and profoundly disappointing, and it makes me and British Columbians and Canadians very angry, because we see what the plan is here.”