With Donald Trump set to enter the White House once again, what could it mean for Saskatchewan industries?
Recent comments from Trump have some concerned about exports down south.
Saskatchewan exporters worry that potential tariffs could significantly impact local trade.
Gunter Jochum, the president of the Wheat Growers association, said Trump suggesting a 10- to 20-per cent tariff on all imported products could spell trouble.
“Any time any kind of trade distorting measures are taken by any government, it’s always a concern,” Jochum said. “A 10-per cent tariff would be huge. It would definitely impact our trade with the US. It would put us at a disadvantage.
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“That being said, it is really difficult to know how it will all unfold. Whether those were election promises, and we all know how that usually goes.”
A tariff is a government tax imposed on imported goods and services, mainly used to raise revenue, influence trade partners and protect domestic industries.
Jochum said while this is not the top worry for Canadian farmers, it is still something to keep an eye on.
This is not the first time Canadian companies have dealt with Trump imposing tariffs.
In 2020, a 10-per cent tariff on most Canadian aluminum was introduced.
The Wilson Center’s director of the Canadian Institute, Christopher Sands, said if Canada panics, it needs to panic responsibly.
“The first thing to take seriously is the threat, because Donald Trump does follow through on his threats,” Sands said. “A 10-per cent tariff is not that different than what Richard Nixon did back in 1971.”
Sands said this suggestion of tariffs might not have an immediate effect but will instead start a conversation between the two countries.
