November 14, 2024
On the campaign trail, Donald Trump pledged to raise tariffs against China to 60% and to impose a blanket tariff of at least 10% on imports from every other country, friend or foe.
It’s not yet clear how he will follow through with that threat – mainstream economists have warned of its inflationary effects – but the president-elect and top advisers, including his former trade chiefRobert Lighthizer, are working hard on it as Trump prepares to take office in January.
What effect would a blanket tariff have on Canada, whose economy is tightly integrated with the US? Brace yourself. A recent report by the Canadian Chamber of Commerce estimated that a permanent 10% US tariff on Canada would cause US imports to fall by 10%, and knock as much as 5% off of Canada’s GDP.
Here’s a look at just how dependent Canada’s economy is on the US, and the key export categories.
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Turkish President Recep Tayyip Erdogan receives Canadian Prime Minister Mark Carney with an official ceremony in Ankara, Turkiye on October 22, 2026.
Anadolu via Reuters Connect
Canadian Prime Minister Mark Carney is in Turkey on Thursday for talks with President Recep Tayyip Erdogan - the visit is the first by a Canadian prime minister.
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