(Shane McNeil – Bloomberg)
Canada needs to be wary of U.S. President Donald Trump’s potential auto tariffs as it prepares to step back to the NAFTA negotiating table, according to a member of Canada’s advisory council.
“I think that Trump is using [auto tariffs] as a very big hammer against Canada and I believe that he is serious, and we have to take it very seriously because of the obvious impact on the economy,” Rona Ambrose, global fellow at the Wilson Center Canada Institute, told BNN Bloomberg in an interview on Monday.
It’s not just Ontario’s economy that would feel the force of the blow, Ambrose said.
“We’re looking at a 25 per cent tariff on our auto sector potentially starting in the first weeks of September,” she said. “That’s what they’re aiming towards, and, as you know, one in five jobs could be affected in the manufacturing sector. We could see a loss of growth in 2019 by a half a percentage point. This would devastate the economy of Ontario and there would [be], obviously, a ripple effect across the economy of Canada.” Click here to read more.
- Donald Trump Issues Fresh Auto Tariffs Threat Against Canada if NAFTA Talks Fail (Canadian Press)
- Prime Minister Justin Trudeau Will ‘Absolutely Not’ Give Up on Supply Management (CBC News)
- Protectionism on the Rise as NAFTA Talks Stall (Hamilton Spectator)
- It’s Time for the Trudeau Government to Move Past Its Errors and Post Some Wins in Foreign Policy (Globe & Mail)