Trudeau criticizes Trump’s proposed tariffs in meeting with US business leaders

WASHINGTON: Prime Minister Justin Trudeau criticized President-elect Donald Trump’s proposed U.S. tariffs on Canadian products in a meeting with American business leaders on Thursday, saying the step would have “negative impacts” on both countries.

Why it’s important

Trump says he will impose 25% tariffs on all Canadian imports unless Ottawa boosts border security. On Tuesday, the president-elect floated the idea of turning Canada into a U.S. state.

Key quotes

“The prime minister emphasized the importance of a stable and predictable business environment and the concerning impacts that proposed U.S. tariffs on Canadian products would have on Canadians and Americans alike,” Trudeau’s office said late on Thursday.

“He emphasized that tariffs only raise prices, discourage growth and investment, and negatively affect financial markets, stressing the importance of continued free trade and the free flow of goods and services,” the office added.

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A tariff on goods crossing the border “would have negative impacts for both Canada and the United States,” Trudeau told business leaders, according to his office.

The prime minister met Jay Timmons, the CEO of the National Association of Manufacturers, and Joshua Bolten, the CEO of the Business Roundtable, a body that counts over 200 CEOs as members.