Under a more conservative scenario where only a 10% tariff is applied and excludes both commodities and the auto sector, the impact to the Canadian economy would be around 1.35%

U.S. tariffs on Canadian goods would be an economic blow to Canada, even factoring in possible exemptions to the oil and gas sector.

U.S. President Donald Trump’s threatened trade tariffs wouldn’t only be devastating for Canada, they’d also wreak havoc south of the border. Dimitry Anastakis, an author and professor at the U of T’s Rotman School of Management,