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real tariff threatCityNews
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70% Informative
How Trump could declare a national emergency to hit Canada with 25 per cent tariffs.
IEEPA is a national security statute that gives the U.S. president authority to control economic transactions after declaring an emergency.
Trump 's team also may be considering a section of the Trade Act of 1974 , which was used to impose tariffs on China during his first administration.
Alschner said relying on targeted retaliatory tariffs won’t be enough, given the gravity of the situation. Canada also needs to offer the incoming Trump administration solutions on economic security, get rid of trade irritants and work on resetting the bilateral relationship, he said. “It’s really imperative that this kind of game, because we are really playing with fire here, doesn’t get out of hand.”.
VR Score
73
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