Canadian Manufacturers & Exporters says it’s encouraged by a decision to delay the implementation of new U.S. tariffs, but the continued threat leaves companies and their workers facing the same damaging uncertainty.
The industry organization which represents manufacturers in Canada says businesses cannot confidently make long-term decisions without knowing what the tariff landscape will look like.
U.S. President Donald Trump announced late Tuesday he would delay new 50 per cent tariffs on roughly $28 billion in goods for three days as talks continue to finalize a new trade deal.
Meanwhile, Prime Minister Mark Carney said “substantial progress” has been made but more work remains.
CME chief executive Dennis Darby says new tariffs would weaken both Canada and the U.S., raise costs and make businesses in both countries less competitive globally.
He says negotiators should use the additional time to pursue a comprehensive trade agreement.
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