The Globe and Mail reports in its Saturday, Jan. 18, edition that many U.S. lawmakers are unaware of the risks president-elect Donald Trump's threatened tariffs pose to Canada, the American economy and two-way trade, said Foreign Affairs Minister Melanie Joly on Friday.
The Globe's Steven Chase writes that Ms. Joly said: "A lot of senators are very surprised by the numbers we're giving them. A lot of senators have never heard about this Trump tariff tax." Mr. Trump has threatened to impose 25-per-cent tariffs on all goods from Canada and Mexico until they address drug trafficking and illegal immigration into the U.S. No decisions have been taken yet on other retaliatory measures, such as export taxes on goods sold to the United States or restrictions on exports to American customers. An unnamed source says if the U.S. takes action, Prime Minister Justin Trudeau will begin a two-week consultation period on tariffs covering about $37-billion of U.S. imports, with immediate implementation afterward. Mr. Trudeau may also announce consultations regarding tariffs on about $110-billion of American goods. Ottawa is mulling export taxes on major commodities such as oil, uranium and potash if Mr. Trump proceeds with tariffs.
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