Trump takes to social media to threaten huge tariffs
There’s the economy, and then there’s the attention economy. The incoming US President has seized the spotlight with his comments on his Truth Social platform calling for a 25% tariff on products from Canada.
The damage such a move would do to the Canadian and US economies makes this pronouncement shocking, which is likely what Donald Trump intended.
Chamber Board Chair Kris Wirk spoke to CFAX this morning about the issue, noting that the uncertainty is not helpful regardless of whether any tariffs are introduced.
Chamber CEO Bruce Williams said it’s easy for Trump to be loud on social media, but there has already been a tremendous amount of work behind the scenes to mitigate the damage tariffs would cause.
“We need to remember that this is a public relations tactic and probably much different than what will occur in reality,” Williams said. “Our national Chamber network has built strong relationships with states along Canada’s border. Their leaders understand the trade relationship with Canada and its importance to American jobs, factories and consumers. They’ll bring a strong voice to any negotiations.”
Speaking of the Canadian Chamber, new President and CEO Candace Laing has issued a statement condemning any attempt to hurt Canada’s economy.
“Being America’s ‘nice neighbour’ won’t get us anywhere in this situation. President-elect Trump’s intention to impose 25% tariffs signals that the U.S.-Canada trade relationship is no longer about mutual benefit. To him, it’s about winners and losers—with Canada on the losing end,” Laing said. “We’re facing a significant shift in the relationship between long-standing allies. Canada’s signature approach needs to evolve: we must be prepared to take a couple of punches if we’re going to stake out our position. It’s time to trade ‘sorry’ for ‘sorry, not sorry.’”
