People Mentioned
Special Advisor, Ottawa
In anticipation of the Trump administration’s upcoming trade announcement, Canadians are bracing for what impact the impending tariffs will have on businesses and consumers.
In a climate of uncertainty, it is difficult to speculate on what the impact of tariffs will be on the Canadian economy. President Donald Trump has proven to be determined in his intention of executing tariffs in what he describes as “Liberation Day.” Canadians must prepare for the current circumstances in which tariffs are embedded into the system for the long term.
Global News channel’s program Conversations with Ben O’Hara-Byrne recently featured an episode with Osler Special Advisor, Stephen Poloz, on the impact of tariffs on the Canadian economy.
Speaking to host Ben O’Hara-Byrne, he discussed President Trump’s perception that he is levelling the playing field through tariffs. Stephen suggests, “the U.S. will be getting … a much more significant source of revenue for their government from this source.” While Canadians will garner revenue from retaliatory tariffs as well, he continues, “maybe there’s a little silver lining here which is that those revenues would allow governments maybe to reduce other taxes that are worse for the economy, things like, frankly, income taxes, or of course, capital taxes. We could maybe do things that could really boost business investment spending in response to applying these tariffs.”
People Mentioned
Special Advisor, Ottawa
