Tuesday Ticker: U.S. President Donald Trump vows to enact tariffs against Canada on March 4

Toronto, Ontario – In this weekly Tuesday Ticker, the tariff threats continue with United States President Donald Trump reportedly vowing to implement 25 percent tariffs against Canada and Mexico beginning March 4.

This deadline, according to recent reports, is due to the Trump administration seeing an inefficient progress on curbing fentanyl flows entering the country.

Furthermore, when looking at the automotive sector more closely, according to recent online reports from financial experts, these impending tariffs could increase vehicle prices across North America by as much as US$12,000.

In a recent study from Anderson Economic Group, the cost to build a crossover utility vehicle could potentially rise by US$4,000, while the increase could be three times as high for an electric vehicle.

Finally, Anderson Economic Group’s analysis estimates that a large SUV with “significant” content from Mexico or Canada could see a nearly US$9,000 increase when entering the US. Comparatively, a pickup would see an US$8,000 increase.

As of 11:00 a.m. EST, the Canadian dollar was $0.69 compared to the US dollar.