Canada Faces Uncertainty Amid Trump Trade Threats

With Donald Trump's re-election, Canadian businesses are bracing for potential impacts of his trade policies, particularly his threat to impose universal tariffs ranging from 10% to 20% on imports. This could significantly affect Canadian exports, which currently account for about 77% of Canada's total merchandise exports to the U.S. Heliene Inc., a Canadian solar panel manufacturer, exemplifies the challenges faced, having shifted much of its production to the U.S. to survive. Canadian farmers express mixed sentiments about Trump’s policies, fearing restrictions on exports and changes to U.S. agricultural support that might impact Canadian pricing. Meanwhile, Canada is urged to strengthen its economic partnership with the U.S. in critical sectors like energy and minerals to enhance resilience and shared prosperity. Overall, the uncertainty surrounding U.S. trade policies under Trump poses a precarious situation for Canadian businesses and the economy at large.