From auto leaders to farmers, Canadian industry players say patience is a virtue when it comes to Trump's tariff threats — and that the mutually beneficial nature of the Canada-U.S. trade relationship, worth more than a trillion dollars, shouldn't be underestimated.From leaders in the auto industry to farmers, Canadian players say patience is a virtue when it comes to Trump's tariff threats — and that the mutually beneficial nature of the Canada-U.S.
"It's a cost on Canada and Mexican businesses, and American businesses," because the countries have a deeply intertwined supply chain, said Charles St-Arnaud, chief economist at Alberta Central, a trade association for the province's credit unions.How seriously should we take Trump's tariff threat, and how could it affect Canadians?
Honda employees work along the vehicle assembly line in Alliston, Ont., on April 25. After the oil and energy industry, the auto industry would be the sector most impacted by Trump's tariff threats. One example of the interrelation described by St-Arnaud is Ontario's auto sector, where car parts might cross the border multiple times.
We make tools and we make parts together and we make cars together. I expect a tough, real negotiation, but I'm also telling everybody to be patient.""Relax a little bit. He loves doing this."Flavio Volpe, president of the Automotive Parts Manufacturers' Association, says supply chains in the North American auto industry are so integrated that 'there is no border in automotive.' He says U.S.
"Imposing tariffs on Canadian steel will have tremendous impact across many sectors such as auto, energy and construction, making everything more expensive to the American and Canadian consumer," her statement said.
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