(Unsplash photo)
U.S. President Donald Trump may have agreed to hold off on imposing tariffs on Canada and Mexico for 30 days, but the potential of a damaging trade war continues to be top of mind for many.
Officials from the Upper Ottawa Valley Chamber of Commerce say the proposed tariffs by the United States on Canadian goods and services (25%) and energy (10%), along with Canada’s suggested retaliatory tariffs, present significant economic challenges.
“It is estimated that this trade war will increase annual costs by $1,900 per Canadian and $1,300 per American,” reads a UOV Chamber notice. “The Chamber of Commerce is committed to supporting our local businesses, advocating for fair trade, and working with key stakeholders to mitigate the impact of these tariffs.”
The chamber is hosting a survey for its members, asking for business owners’ thoughts on the tariffs and potential impacts to businesses.
For more, visit the website.
(Sherry Haaima)