{"id":36027,"date":"2024-12-17T19:16:00","date_gmt":"2024-12-18T01:16:00","guid":{"rendered":"https:\/\/ustower.net\/?p=36027"},"modified":"2024-12-17T20:07:15","modified_gmt":"2024-12-18T02:07:15","slug":"ontarios-premier-says-trumps-tariffs-would-be-a-disaster-for-us-markets","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=36027","title":{"rendered":"Ontario\u2019s premier says Trump\u2019s tariffs would be a disaster for US markets"},"content":{"rendered":"\n

TORONTO (AP) \u2014 The premier of Canada\u2019s most populous province said Tuesday President-elect Donald Trump\u2019s plan to impose sweeping 25% tariffs<\/u><\/a> on all Canadian products would be a \u201cdisaster\u201d that would hurt U.S. stock markets.<\/p>\n\n\n\n

Ontario Premier Doug Ford<\/u><\/a> also said in an interview with The Associated Press that he\u2019s \u201cextremely worried\u201d about Trump\u2019s plan to launch a mass deportation<\/u><\/a> of millions of undocumented people. Ford said he has a plan to send hundreds of police officers to the border if they come north.<\/p>\n\n\n\n

Ford said tariffs won\u2019t work considering how integrated the U.S. and Canadian economies are. He noted that in the auto sector alone parts and go back and forth between Canada-U.S. border seven or eight times before being assembled in Ontario or Michigan.<\/p>\n\n\n\n

\u201cIt is so integrated. I don\u2019t even know how you separate that in the supply chain. It would be a disaster,\u201d Ford told the AP. \u201cIt will affect the market. The market will drop and we have every CEO saying that is not the way to go.\u201d<\/p>\n\n\n\n

Ford said the market consequences will get Trump\u2019s attention.<\/p>\n\n\n\n

\u201cI know he has many scorecards, but one is the stock market. It will affect the market, the market will drop,\u201d Ford said.<\/p>\n\n\n\n

Ford said he\u2019s also very worried about Trump\u2019s mass deportation plan. Trump has talked about creating \u201cthe largest mass deportation program in history,\u201d calling for using the National Guard and mobilizing domestic police forces.<\/p>\n\n\n\n

\u201cI am extremely concerned,\u201d Ford said. \u201cWe do have a plan ready. We have hundreds of provincial police officers that are ready within hours, if not immediately, to hit the borders.\u201d<\/p>\n\n\n\n

Ford said a combination of local police, provincial police and the federal government will all be working together. \u201cWe\u2019ll make sure that we tighten up that border like we\u2019ve never seen before,\u201d he said.<\/p>\n\n\n\n

Trump has threatened to impose 25% tariffs on all Canadian goods if Canada and Mexico do not stem the flow of migrants and fentanyl from entering the U.S. border \u2014 even though far fewer of each crosses into the U.S. from Canada than from Mexico.<\/p>\n\n\n\n

Ford made the comments shortly after Canada\u2019s federal government announced some more details about a billion dollar border plan that\u2019s designed to avert the tariffs. Canada\u2019s national police plans to create a new aerial intelligence task force to provide round-the-clock surveillance of Canada\u2019s border using helicopters, drones and surveillance towers.<\/p>\n\n\n\n

Canada will also propose to the United States the creation of a North American \u201cjoint strike force\u201d to target organized crime groups that work across borders.<\/p>\n\n\n\n

\u201cWe\u2019re stepping up to keep our border strong and secure: By deploying new helicopters, drones and surveillance tools. By adding new scanners and sniffer dog teams to stop and seize fentanyl. By cracking down on the money laundering that\u2019s funding cross-border crime,\u201d Canadian Prime Minister Justin Trudeau said in a post on X.<\/p>\n\n\n\n

Trudeau is under pressure from some of his own lawmakers to resign<\/u><\/a> after his finance minister quit cabinet. Ford said it\u2019s up to Trudeau to resign and said Canada\u2019s provincial premiers are united in telling the Americans how important U.S-Canada trade is.<\/p>\n\n\n\n

Ford reiterated he would restrict electricity exports<\/u><\/a> to Michigan, New York and Minnesota if the sweeping tariffs are imposed.<\/p>\n\n\n\n

\u201cI want to sell them more energy, more critical minerals, but I\u2019m going to always keep every tool in our tool box available\u201d Ford said. \u201cThat\u2019s the the last thing I want to do. We have the energy. They need the energy.\u201d<\/p>\n\n\n\n

About 60% of U.S. crude oil imports are from Canada, and 85% of U.S. electricity imports as well.<\/p>\n\n\n\n

Canada is also the largest foreign supplier of steel, aluminum and uranium to the U.S. and has 34 critical minerals and metals that the Pentagon is eager for.<\/p>\n\n\n\n

Nearly $3.6 billion Canadian ($2.7 billion) worth of goods and services cross the border each day. Canada is the top export destination for 36 U.S. states.<\/p>\n\n\n\n

Ford said he spoke with the governors of Michigan and New York and they \u201cfully understand.\u201d Michigan is Ontario\u2019s top trading partner.<\/p>\n\n\n\n

\u201cWe want to sit down and explain to Trump and inform him that we aren\u2019t the enemy,\u201d Ford said. \u201cAnd as for Mexico I want to do a bilateral trade deal directly with the U.S.\u201d<\/p>\n\n\n\n

Flows of migrants and seizures of drugs at the two countries\u2019 border are vastly different. U.S. customs agents seized 43 pounds of fentanyl at the Canadian border during the last fiscal year, compared with 21,100 pounds at the Mexican border.<\/p>\n\n\n\n

Most of the fentanyl reaching the U.S. \u2014 where it causes about 70,000 overdose deaths annually \u2014 is made by Mexican drug cartels<\/u><\/a> using precursor chemicals smuggled from Asia.<\/p>\n\n\n\n

On immigration, the U.S. Border Patrol reported 1.53 million encounters with migrants at the southwest border with Mexico between October 2023 and September 2024. That compares to 23,721 encounters at the Canadian border during that time.<\/p>\n\n\n\n

apnews<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

TORONTO (AP) \u2014 The premier of Canada\u2019s most populous province said Tuesday President-elect Donald Trump\u2019s plan to impose sweeping 25% tariffs on all Canadian products would be a \u201cdisaster\u201d that would hurt U.S. stock markets. Ontario Premier Doug Ford also said in an interview with The Associated Press that he\u2019s \u201cextremely worried\u201d about Trump\u2019s plan to launch a mass deportation of […]<\/p>\n","protected":false},"author":5,"featured_media":36028,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[2261,1508,3616,1230],"class_list":["post-36027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-disaster","tag-market","tag-tariffs","tag-trump"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/36027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36027"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/36027\/revisions"}],"predecessor-version":[{"id":36029,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/36027\/revisions\/36029"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/36028"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}