U.S. President Donald Trump has extended the deadline on reaching a trade deal with Canada by another three days.
Trump had threatened to impose punishing 50 per cent tariffs on a range of Canadian goods by midnight last night if a new trade deal between the two nations could not be finalized.
He extended the deadline by three days just hours before the tariffs were set to take effect.
It’s a tactic that has become increasingly common since Trump resumed office and launched his trade dispute with Canada.
Tom Cooper (VOCM News file photo)
‘Uncertainty creates difficulties for businesses’ says MUN prof
Business advisor and Memorial University professor Tom Cooper is hopeful a deal can be reached, but the uncertainty created by the Trump administration impedes business.
“There’s a lot of drama around what’s going on with Trump and what he wants to do and what he doesn’t want to do. That creates a lot of uncertainty, and that uncertainty is difficult to manage – you want to make investments, you want to make decisions over the long term, not decisions over three days.
“So that whole drama, uncertainty, creates difficulties for businesses to plan, and it also has implications for us as consumers as well.”
