Economic dependence between Canada, the United States and Mexico is too strong for tariffs to kneecap trade, says the head of Canadian Pacific Kanas City Ltd.
“How many engines and transmissions are built in the U.S. that go to Mexico so they can produce the vehicle that comes back to the U.S.,” CEO Keith Creel said Wednesday, pointing to the auto sector.
“The fact is we’ve got 75 percent of production capacity in the U.S. and 25 percent that’s got to come from somewhere else,” he told analysts on a conference call.
“That type of interdependence, that type of need, is woven into this economy.”…