What could tariffs mean for Canada?

Business Daily

BBC

News, Business

4.4 • 796 Ratings

🗓️ 15 January 2025

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

Donald Trump has said he will impose new tariffs on goods entering the US from Canada on his first day in office. Tariffs are a central part of the President-elect's economic vision - he sees them as a way of growing the US economy, protecting jobs and raising tax revenue.

But some warn they could inflate consumer prices.

We look at how Canada is preparing, hearing from those in key sectors like farming and car manufacturing, and explore how the resignation of Canadian Prime Minister Justin Trudeau could affect things.

If you would like to get in touch with the show, please email: [email protected]

Presenter: Sam Gruet Producer: Megan Lawton

(Picture: Ben Loewith, a third-generation dairy farmer, who runs summit dairy in Hamilton, Ontario, pictured in the dairy. Credit: Sam Gruet/Megan Lawton/BBC)

Transcript

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0:00.0	Hello and welcome to Business Daily on the BBC World Service.
0:05.2	I'm Sam Gruet. Today,
0:07.1	President-elect Donald Trump says he will impose widespread tariffs, sweeping tariffs on Mexico, Canada.
0:13.4	As Donald Trump threatens a 25% tariff on Canadian products.
0:17.8	I'm a big believer in tariffs. I think tariffs are going to make us rich.
0:21.2	And Canada's Prime Minister Justin Trudeau steps down from office.
0:24.9	I intend to resign as Prime Minister. I want to find out how Canada, its people and businesses
0:31.0	are preparing for what might come next. We are digging ourselves in deeper that say,
0:35.5	no, we're in this community to stay.
0:42.0	Looking at the impact tariffs could have on both sides of the border.
0:46.4	It's a great deal if you can get it, but it'll result in retaliatory tariffs.
0:51.5	And learning how the country's key sectors and people in power are getting ready for a trade war with Donald Trump's United States.
0:54.3	You know, this is a fight in a marriage and we're committed to it.
0:56.9	That's coming up on Business Daily on the BBC World Service.
1:02.8	It's an ordinary Friday afternoon in this busy supermarket in Toronto, Canada's largest
1:08.6	and most populated city.
1:12.8	I'm in the fruit and vegetable aisle,
1:19.0	which is home to plenty of seasonal produce like carrots and beetroot. Although there are many Canadian products on the shelves, the US supplies about half of Canada's fruit, nut and vegetable
1:25.0	imports with lettuce from California and cauliflower from Arizona.
1:30.9	In the meat section, there's more evidence of Canada's reliance on its southern neighbour,
1:36.7	particularly with raw and processed beef and poultry.
1:40.5	The total of today's shop, just over 100 Canadian dollars. That's around 70 US dollars.
	...

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