Canada looks set to pick a measured former central banker to deal with the threats President Donald Trump’s tariffs pose against a pillar of Western free trade.
Chicago’s Timothy P. Sheehan put forward a congressional resolution calling for the annexation of Canada by the United States.
Trump has whipsawed on tariffs in recent days, imposing sweeping levies on Tuesday before paring back some of them, including goods from Mexico and Canada covered under the countries' USMCA trade agreement. Canadian Prime Minister Justin Trudeau slammed the new tariffs as “very dumb” earlier this week.
From breweries to farms, businesses are bracing for higher costs as well as product and supply chain disruptions — and the hits could affect what consumers pay.
President Trump’s newly imposed tariffs are expected to have widespread economic effects across the country, including in Chicago.
This is the second one-month postponement Trump has announced since first unveiling the import taxes in early February.
The price of a wide array of products will likely soon be going up as a result of the tariffs — affecting everything from food to electronics.
President Donald Trump went forward with sweeping tariffs at midnight on goods imported from Canada and Mexico, while doubling down on punitive duties on China.