Trump’s Tariff Threat Could Hit Canadian Wallets Hard
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Trump's Tariff Warning: A Looming Impact on Canadian Wallets
Former U.S. President Donald Trump is shaking up North American trade waters, promising a sweeping 25% tariff on imports from Canada and Mexico if he wins back the presidency. The move has Ottawa—and Canadian businesses—bracing for impact.
The tariffs, aimed at bolstering U.S. domestic manufacturing, would target all imports, from maple syrup to machinery. Analysts warn such sweeping measures could disrupt supply chains, inflate costs for U.S. consumers, and reduce demand for Canadian exports, which make up 75% of Canada’s total trade.
Why it Matters: Canada’s export-heavy economy could feel the pinch. Industries like auto manufacturing and agriculture would take a direct hit, with ripple effects on jobs and GDP. For consumers, this could mean pricier goods and potential economic slowdown, a double whammy just as inflation has started to ease.
Bottom Line: Trump's proposed tariffs add a new layer of uncertainty for Canada’s economy. Investors and policymakers alike will need to prepare for potential impacts on growth, trade, and market stability.
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Bottom Line: While Bitcoin’s near-$100K valuation represents a turning point for crypto, analysts warn of potential headwinds from regulatory shifts and profit-taking. Markets are watching closely as the psychological barrier inches closer.
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