Trump’s tariffs

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Just how bad will things get for the market if Trump goes ahead with the tariffs?

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Asked on January 8, 2025 11:21 am
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A lot of this depends on how much and where he puts the tariffs. It is very hard to ballpark what industries would be hit the most because Trump tends to do more talking than he does actioning.

I believe the real dangers here would be the concessions the Canadian government will have to put in place to possibly mitigate tariffs. Increased defense spending for example would likely come at the expense of other things as Canada is already having a hard enough time managing the budget. In addition to this, concessions could potentially be made for US competitors to enter Canadian markets that have largely been protected more many years. Think of something like our telecom industry or financial sector.

The tariffs would not be bullish for the Canadian economy, however there is a situation where the dollar would get weak enough where even with the tariffs US purchasers would find it more beneficial to purchase Canadian goods.

I wish I had an answer for you but in reality there is no answer, as there are no policies put in place yet.

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Posted by Dan Kent
Answered on January 9, 2025 9:10 am