The newly imposed U.S. and Canadian tariffs will present substantial uncertainty and lead to a financial setback in the short term, to be followed by a period of readjustment, say Canadian manufacturers and oil producers.
U.S. President Donald Trump has announced, starting on Feb. 4, a 25 percent tariff on imports from Canada and Mexico and a 10 percent tariff on China on top of existing tariffs on that country. The tariff on Canadian oil and gas will be lower, at 10 percent. In retaliation, Canada says it will put 25 percent tariffs on $155 billion worth of U.S. imports.
