1628 ET - The Canadian Chamber of Commerce warns of irreparable damage to the U.S.-Canada trading relationship now that President Trump says he's pushing ahead with 25% tariffs on Canadian nonenergy imports, starting Tuesday. "Businesses can't just switch their whole model to avoid tariffs and then go back again, depending on what politicians decide on any given day," says Matthew Holmes, executive vice-president at the country's biggest business-lobby group. "Every day with tariff threats makes us weaker as allies." The big concern is whether Canadian companies now decide to shift part, if not all, of their operations to the U.S. market to avoid levies. The Bank of Canada has warned of steep declines in exports and business investment should Ottawa and Washington engage in a prolonged trade conflict. (Paul.Vieira@wsj.com, @paulvieira)
(END) Dow Jones Newswires
March 03, 2025 16:28 ET (21:28 GMT)
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