Friday, February 14, 2025
spot_imgspot_img

Top 5 This Week

spot_imgspot_img

Related Posts

Top Canadian diplomat in Boston warns: China will be the only winner in U.S./Canada trade war


President Donald Trump’s administration has announced that it will move forward with imposing tariffs on China, Canada, and Mexico, with goods from China facing a 10% tariff and those from Canada and Mexico facing 25% tariffs. This decision has raised concerns in Massachusetts, which has strong trade ties with its northern neighbor, Canada.

The Bay State is home to 15 Canadian biotech firms, with a total of 286 Canadian-owned companies employing 34,650 workers in Massachusetts. The state also exports $3.3 billion in goods and $2.4 billion in services to Canada annually. Governor Maura Healey has warned that electricity costs in the state could increase by $200 million due to these tariffs.

Trade groups, including the American Building Materials Alliance, have raised concerns about the impact of these tariffs on construction costs, particularly for materials like Canadian lumber. They have called on the White House to exempt Canadian lumber from the trade sanctions to avoid driving up costs for builders and consumers.

Industry leaders in Massachusetts, including the Associated Industries of Massachusetts, are monitoring the situation closely, with uncertainty surrounding the potential price impacts and implications on the state’s economy. Canadian Counsel General Bernadette Jordan has emphasized the importance of maintaining the strong trade and economic ties between Canada and the Bay State, warning of potential price increases and noting the mutually beneficial relationship between the two countries. She has underscored the need for open lines of communication to protect jobs on both sides of the border.

Source

Note: The image is for illustrative purposes only and is not the original image of the presented article.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular Articles