Advertisement

Steel, auto tariffs could trigger recession in Canada, industry reps warn

Representatives of the steel industry, auto parts makers, car dealers and the steelworkers union say U.S. President Donald Trump's tariffs could send Canada spiralling into a recession.
Representatives of the steel industry, auto parts makers, car dealers and the steelworkers union say U.S. President Donald Trump's tariffs could send Canada spiralling into a recession. The Canadian Press/Chris Young

MPs are hearing dire warnings about the potential impact of American tariffs on Canadian aluminum and steel and a looming threat of tariffs on automobiles.

READ MORE: Hurry up and buy? How Trump’s auto tariffs could affect car prices in Canada

Representatives of the steel industry, auto parts makers, car dealers and the steelworkers union say U.S. President Donald Trump’s tariffs could send Canada spiralling into a recession.

The House of Commons trade committee is holding a special meeting to hear about the broad economic pain the tariffs could bring.

The MPs are being told that Canada has to fight back with its own retaliatory levies, which are scheduled to go into effect next week.

WATCH: Freeland confident 160,000 auto sector jobs will be protected from U.S. tariffs

Freeland confident 160,000 auto sector jobs will be protected from U.S. tariffs
Freeland confident 160,000 auto sector jobs will be protected from U.S. tariffs

Steel company CEO Sean Donnelly says Canada finds itself in unprecedented times that demand unprecedented reactions.

Story continues below advertisement

READ MORE: Canada preparing ‘detailed’ response to potential Trump auto tariffs: Freeland

Ken Neumann, Canadian director of the United Steelworkers, says Canada’s tariffs should have gone into effect the same day as the American levies.

WATCH: U.S. Tariffs getting people to buy Canadian

U.S. Tariffs getting people to buy Canadian
U.S. Tariffs getting people to buy Canadian