A CIBC report says sweeping tariffs imposed by the U.S. could cost the Canadian economy as much as 3.25 percent, even factoring in possible exemptions for the oil and gas sector.
An analysis published Tuesday examined four potential scenarios in which U.S. President Donald Trump slaps new taxes on goods imported from Canada, ranging from 10 to 20 percent and with possible carve-outs for key industries.
Speaking with reporters on Monday evening, Trump said he’s thinking about hitting Canada and Mexico with 25 percent tariffs on Feb. 1.
Prime Minister Justin Trudeau has said Canada would respond and that “everything is on the table.”…