Ontario braces for impact of Trump tariff announcement coming Wednesday
38 minutes ago
Duration 3:57
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Ontario, like much of the globe, is holding its breath and waiting for details to emerge from U.S. President Donald Trump's tariff plan Wednesday.
Trump has dubbed it Liberation Day and is scheduled to reveal the full scope of his protectionist trade policy at 4 p.m. ET in the White House Rose Garden.
But while Trump will almost certainly strike a celebratory tone for the announcement, trepidation reigns for others — like Ontario Premier Doug Ford, who continued appearing on U.S. news shows Wednesday, warning of negative impacts on both sides of the border.
"He calls it Liberation Day. I call it Termination Day, because people are going to be losing their jobs across the U.S.," Ford said on CNBC. "You can't just all of a sudden put tariffs on every part and every widget that comes across the border.
"[Trump] believes he is supporting Americans. He said he was going to create jobs, create wealth, reduce inflation — it's worked the total opposite."
WATCH | Experts examine auto tariff plan:
Why experts think Trump's new auto tariff plan 'defies logic' | About That
2 days ago
Duration 25:38
Trade war putting relations at risk: Chow
The White House insists these tariffs will achieve several simultaneous goals: raise revenues, pay for tax cuts and force companies to build in the U.S. The stock market doesn't appear to be convinced however — it has lost all its gains since the American election.
Speaking at a virtual gathering of several U.S. and Canadian mayors from the Great Lakes and St. Lawrence Cities Initiative Wednesday, Toronto Mayor Olivia Chow said that Toronto does $123 billion in trade with the U.S. each year.
"Unfortunately, President Trump's trade war is putting it all at risk," Chow said. "People on both sides of the border … are feeling anxious — they're worried about their jobs and the impact this trade war will have on their cost of groceries, gas, homes, cars, and it really doesn't have to be that way."
Chow called on on Trump to "end these threats once and for all."
"Let us not hurt each other," she said. "We have a shared commitment to look out for each other, to make sure our communities stay connected, to work together despite these challenges."
Questions abound
Many questions remain about exactly what measures will be revealed Wednesday, such as whether Trump will announce one flat global tariff or multiple so-called reciprocal measures.
The White House isn't saying. Media reports suggest it's still being debated internally, despite Trump having spent two years campaigning on this idea.
"Are they imposed on countries? Are they imposed on commodities?" asked Thomas Schaller, professor of political science at University of Maryland while speaking on CBC Radio's Metro Morning Wednesday.
"And if it's commodities, is it the entire commodity or are the parts included?"
WATCH | 'Rebirth' of a nation, Trump says:
Trump says April 2 tariffs will be 'rebirth' of a country | Hanomansing Tonight
2 days ago
Duration 5:13
In just a few days, Donald Trump is promising to use tariffs to, in his view, liberate his country from foreign goods by imposing tariffs that will target all countries. CBC News correspondent Richard Madan has the latest from Washington, shortly after Trump spoke to reporters Monday.
And yet another question, Schaller said: "How long before he starts clawing them back?"
Flavio Volpe, president of the Automotive Parts Manufacturers' Association, told CBC News the duties announced Wednesday could include a broad 20 per cent retaliatory tariff, or they might target specific countries — and some countries might get off easier than others.
But Volpe stressed that "when those things go through, people will lose jobs. Regular people who don't have a voice in Washington or in Ottawa are going to lose their jobs."
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