Ontario trade experts express disappointment and frustration over U.S. President Trump's threat to impose a 35 percent tariff on Canadian goods starting August 1. CEO of the Ontario Chamber of Commerce, Daniel Tisch, views the situation as potentially a negotiating tactic rather than a serious threat. Some argue that unpredictability and pressure tactics from the Trump administration harm economic stability and growth in Canada. Toronto Region Board of Trade CEO Giles Gherson notes a decline in exports and investments, leading to negative effects on the economy and job market.
The tariffs would come into effect Aug. 1, he wrote in his letter. It's just another time the president is crying wolf, says Daniel Tisch, CEO of the Ontario Chamber of Commerce. "It's unknown if this is serious or this is just a negotiating ploy," he said. "My guess is that the negotiations were not going very well. The Americans were probably looking for Canada to put more things on the table to trade with."
Both Canadians and Americans are fed up, Tisch says. "We need predictability, we need stability, we need clear rules that we can follow. It's reasonable for American and Canadian businesses alike to expect that governments will deliver that," he said.
The situation is certainly frustrating, says Toronto Region Board of Trade CEO Giles Gherson. "Already, we've seen a decline in our exports, on investments," he said. "[Companies] are going to be holding back that's harmful to our economy, harmful to jobs, harmful to our ability to grow."
Gherson says this is nothing more than a pressure tactic from the president's administration. "It's the way they operate, which is to put pressure on [us] to try to secure the most advantageous deal possible," he said.
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