U.S. president-elect Donald Trump’s threats of 25 per cent tariffs on imports from Canada and Mexico has sent politicians north and south of the U.S. scrambling.

In Canada, Prime Minister Justin Trudeau said it was important everyone was “pulling together” on the issue. A virtual meeting between Trudeau and the country’s premiers later today is a first step. But a clear plan is likely to remain unclear.

What is clear are the potential impacts. Canada and the U.S. have one of the largest agricultural trading relationships in the world, built on decades of mostly duty-free trade. Energy, automotive and lumber industries would also be hit hard.

Trump’s stated aim for the tariffs is to tackle illegal migration and drug smuggling at the U.S.-Canada border, but the numbers tell a different story. 

Take fentanyl, for example. 21,100 pounds of the drug were seized at the U.S.-Mexico border between October 2023 and September 2024, compared to just 43 pounds at the Canadian border.

But what will be the real impacts of the proposed tariffs on the Canadian economy? And how should businesses be responding? Watch the video below for an in-depth discussion tackling all the big questions.

Watch the full recording.

Engage with Canada’s most influential decision makers.

The Logic’s event attendees include professionals with a focus on technology and innovation—industry leaders, members of government and passionate members of Canada’s tech and innovation community. They also garner significant interest from public relations, government relations and communications firms looking to gain indispensable information for their clients to better inform their work. For more information, contact our events team at [email protected].