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These industries would be hit hardest by Trump’s 25 per cent tariffs
OTTAWA — U.S. President Donald Trump could be just days away from hitting Canada with punishing tariffs. Here’s a look at the industries that would be hit the hardest.
Statistics Canada says the value of Canadian exports to the United States in 2023 exceeded $594 billion. More than 43 per cent of that came from just six industries: oil and gas extraction, oil and gas refining, auto manufacturing, aluminum production and processing, aerospace and crop and animal production.
A 25 per cent tariff applied across the board would increase the cost of those exports by $148.5 billion.
The U.S. is by far Canada’s largest trading partner. While Canada’s total exports to the U.S. from all industries came to $594 billion in 2023, its total exports to all other countries combined reached only $174 billion — meaning more than 77 per cent of all Canadian exports went to the U.S.