‘A Really Serious Economic War’: Canadian Manufacturing, Oil Sectors Grapple With New Tariffs

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‘A Really Serious Economic War’: Canadian Manufacturing, Oil Sectors Grapple With New Tariffs

The newly imposed U.S. and Canadian tariffs will present substantial uncertainty and lead to a financial setback in the short term, to be followed by a period of readjustment, say Canadian manufacturers and oil producers. U.S. President Donald Trump has announced a 25 percent tariff on imports from Canada and Mexico, and a 10 percent tariff on China on top of existing tariffs on that country starting on Feb. 4. The tariff on Canadian oil and gas…