Jonathon Azzopardi, president of Laval Tool, highlights the potential impact of proposed 25% tariffs on US-Canadian trade, which threatens to disrupt complicated supply chains in the auto industry. The tariffs could dramatically increase costs, as many products cross the US-Canada border multiple times during production. Following a brief pause in tariff implementation, uncertainty looms, complicating the operational landscape for many businesses. The situation underscores the precariousness instigated by current trade policies and the potential for significant retaliatory measures from Canada and Mexico.
The uncertainty is actually a bit worse, because we don't know what's going to happen, says Azzopardi.
Tariffs on Canada and Mexico could affect some $225 billion in auto-related imports.
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