Donald Trump is heading back to the White House today and Canadians are waiting to see what he has in store in terms of tariffs.
Trump has promised tariffs as high as 25 percent on Canadian goods entering the United States.
Federal cabinet ministers are meeting today - likely waiting to see what orders Trump issues. The feds say several retaliatory plans are in place to combat the tariffs.
Last week, the BC government said the province could see a loss of $69 billion in economic activity between 2025 and 2028 if the 25 percent tariffs fall into place.
Job losses were estimated at 124,000 by 2028 with the largest declines in the natural-resource sector export industries and associated manufacturing.
Losses would also be felt in the transportation and retail sectors, with the unemployment rate possibly increasing to 6.7% this year and 7.1% in 2026.
Most of Canada’s premieres - all but Alberta’s Danielle Smith - signed a joint statement last week saying they were behind a united front to safeguard Canada’s best interests.
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