"There’s a general sense we’re on our own track, because we've got our own negotiations going on, but I don’t think we can take anything for granted," said Matthew Holmes, head of public policy at the Canadian Chamber of Commerce. "Just because we didn’t make it onto the science fair bristol board the last time doesn't mean we won’t make it this time.”
Trump, argued Holmes, could issue the same letter he's sent this week to Japan and South Korea, promising a 25 per cent tariff starting in August.
“I think there’s a risk he could do that. I wouldn't be shocked," said Holmes.
(Trump on Monday placed a 25 per cent tax on goods imported from Japan and South Korea, citing persistent trade imbalances with the two crucial U.S. allies in Asia)
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Businesses around the world are looking at exporting less to the US, because their American import partners are having to put up prices to cover the tariffs they now have to pay, which makes their products more expensive on US shelves.
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Canada’s new trade diversification strategy will expand to Asia this fall. Ottawa is rebuilding relations with India and China after serious (Trudeau-ish) ruptures but in the near term will focus on deepening trade with other like-minded allies in the region such as Japan, South Korea…
…Singapore, Australia and New Zealand, a senior Canadian official said. Priorities would include critical minerals but also quantum technology and artificial intelligence. The Indo-Pacific region is Canada’s second-largest regional export market and trading partner after the United States. More than 10.5 per cent of Canada’s total merchandise exports in 2022 were to the Indo-Pacific region, according to the federal government.
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Trump, argued Holmes, could issue the same letter he's sent this week to Japan and South Korea, promising a 25 per cent tariff starting in August.
“I think there’s a risk he could do that. I wouldn't be shocked," said Holmes.
(Trump on Monday placed a 25 per cent tax on goods imported from Japan and South Korea, citing persistent trade imbalances with the two crucial U.S. allies in Asia)
Canada dodges Trump's reciprocal tariffs, set to begin Wednesday — at least for now — Toronto Star
Wednesday marks the end of a 90-day pause of tariffs on dozens of U.S. trading partners around the globe, ranging from a low of 10 per cent to a high of 84 per cent.
How tariffs are shifting global supply chains — BBC News
Trump's 90-day pause on his sweeping tariffs plan is about to expire. But already some firms are radically changing how they work.
…Singapore, Australia and New Zealand, a senior Canadian official said. Priorities would include critical minerals but also quantum technology and artificial intelligence. The Indo-Pacific region is Canada’s second-largest regional export market and trading partner after the United States. More than 10.5 per cent of Canada’s total merchandise exports in 2022 were to the Indo-Pacific region, according to the federal government.Canada turns to Asia as efforts to shift trade from United States expand — The Globe and Mail
Near-term strategy to focus on deepening trade with allies in the region, with critical minerals and quantum tech among priorities, senior official says
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