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Goldman Sachs CDR (CAD Hedged)
Symbol GS
Shares Issued 850,000
Close 2024-12-03 C$ 30.02
Market Cap C$ 25,517,000
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Globe says Goldman sees tariffs at $300B (U.S.) yearly

2024-12-03 08:04 ET - In the News

The Globe and Mail reports in its Tuesday, Dec. 3, edition that in Canada, some believe Donald Trump's main goal is to leverage concessions through threats, while others think he is primarily after revenue. The Globe's guest columnist Eugene Lang writes that the Tax Foundation estimates that a 20-per-cent-universal tariff on all imports could generate over $3-trillion (all figures U.S.) for the government in a decade. Additionally, Goldman Sachs projects that tariffs on Canada, Mexico and China could provide nearly $300-billion annually. In Canada, many assume that Mr. Trump's 25-per-cent tariff threat is a negotiating tactic. It seems unlikely that his massive tariff plan is serious; instead, the goal may be to leverage this threat for concessions from trading partners, such as enhanced border security from Canada and Mexico, increased Canadian defence spending, and trade concessions in areas like agricultural supply management. In Canada the conventional wisdom seems to be that Canada will have to pay a price to get relief from Mr. Trump's promised tariffs, but full relief is achievable if we pay that price. It is possible no degree of concessions from Canada will eliminate some level of tariff being imposed on us.

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