A storm hit the Canadian business community Monday evening, as Trump announced a major increase in customs duties from Canada and Mexico starting in January.
“It’s extremely worrying, during the last election campaign, he was talking about tariffs of 10% to 20% and we were already worried. This evening, I think everyone took a leap, we are very surprised,” explains Julie White, vice-president of public affairs and interim spokesperson for Quebec Manufacturers and Exporters.
Donald Trump confirmed on Monday that his first economic measures after his inauguration in January would be to increase customs tariffs on products from Canada, Mexico and China.
“On January 20, as one of my many first executive orders, I will sign all necessary documents to impose 25% tariffs on ALL products entering the United States on Mexico and Canada,” the president wrote elected in a publication on his Truth Social network.
The billionaire explained at the same time that these taxes would remain in force “until drugs, in particular fentanyl, and all illegal immigrants stop this invasion (of the United States)”.
Impacts in the country
“For certain types of products where we are in very strong competition with the United States, such as aeronautics or commodity products like aluminum, where the margin is already very thin, this will disadvantage Canadian companies,” deplores Julie White, who emphasizes that the governments of Canada and Quebec are “very mobilized” at the moment.
Still according to the Quebec Manufacturers and Exporters Association, the impacts of this increase in prices could lead to a drop in production in the country, the relocation of companies and layoffs in certain areas and regions.
On his social networks, the Prime Minister of Quebec, François Legault, announced last night that “this promise from President-elect Donald Trump (poses) an enormous risk to the Quebec and Canadian economy” and that it was necessary to “put everything into is working to avoid tariffs of 25% on all products exported to the United States.
According to information from TVA Nouvelles, Justin Trudeau has already spoken with Mr. Legault and Ontario Prime Minister Doug Ford.
“Today, Canada buys more from the United States than China, Japan, France and the United Kingdom combined. (…) We will, of course, continue to discuss these issues with the new administration,” recalled in a statement on X the Deputy Prime Minister of Canada, Chrystia Freeland, and the Minister of Public Safety of Canada. , Dominic LeBlanc.
China also targeted
In a second publication, Donald Trump also announced an increase in customs taxes of 10%, which is added to those already existing and to those additional that he could decide to apply, on “all the numerous products arriving from China in the United States.”
Concerning China, he promised customs duties of up to 60% for certain products, or even 200% on vehicle imports from Mexico.
