Our Statement on U.S. Decision to Impose 25% Tariffs

Today’s reckless decision by the U.S. administration is forcing Canada and the U.S. toward recessions, job losses and economic disaster.

The U.S. government’s self-defeating tariff policy disregards decades of success and trillions in trade to try and revive a failed economic model from the 1800s. Tariffs are a tax on the American people. Rather than bringing back affordability or creating a “golden age” for business, tariffs will cost consumers at the checkout, cost producers more at every point along the supply chain, and force businesses to find alternate suppliers that are less reliable than Canadian ones. 

The U.S. can claim this policy is about hitting Canada where it hurts, but it will soon see the disastrous impacts at home in cities like Detroit, Pittsburgh, and Louisville. The U.S. can save its people from pain by stopping to reassess, as it did in 2018 when it realized the true cost of steel and aluminum tariffs was paid by American manufacturers. 

As for us, now is the time to double down on protecting our economic sovereignty and security. Recent announcements from the federal and provincial governments on internal trade are steps in the right direction, but what we do in this moment can’t be incremental, it must be transformational. To build a resilient, self-reliant and future-proof economy, we need to diversify our trade partners, revamp the tax and regulatory system, and do even more to streamline internal trade. 

Canada is resource and talent rich. Our economic future is ours to determine — it’s time to join our economic strategy with concrete action to not only minimize the short-term damage but to chart a more prosperous path long-term. 

• Candace Laing, President and CEO, Canadian Chamber of Commerce

About the Canadian Chamber of Commerce — The Future of Business Success 

The Canadian Chamber of Commerce is Canada’s largest and most activated business network — representing over 400 chambers of commerce and boards of trade and more than 200,000 business of all sizes, from all sectors of the economy and from every part of the country — working to create the conditions for our collective success. The Canadian Chamber of Commerce is the undisputed champion and catalyst for the future of business success. From working with government on economy-friendly policy to providing services that inform commerce and enable trade, we give each of our members more of what they need to succeed: insight into markets, competitors and trends, influence over the decisions and policies that drive business success, and impact on business and economic performance.   

Media Contact

Shane Mackenzie
Vice President, Media and Stakeholder Communications
613.302.7683
smackenzie@chamber.ca