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02:13
Canada: Canadians remain concerned of economic chaos despite US delay in imposing tariffs
Ottawa, Canada - Recent Canadian residents remain concerned about the impact of potentially crippling trade measures enforced by the United States, even after the U.S. temporarily paused its planned tariffs on Canadian goods. U.S. President Donald Trump said Monday that the introduction of tariffs would be delayed for a 30-day period while a possible economic deal with Canada can be worked out. It came following talks earlier in the day with Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau, during which agreements were reached for the U.S. to postpone the planned tariffs on the two countries after both pledged to strengthen border management. The pause, which came just hours before the tariffs were scheduled to start, might have averted an immediate trade war between the U.S. and its northern neighbor but despite the brief respite, the tension has left many uneasy as some accuse Trump of stoking trouble. In return for the 30-day delay, Trudeau said Canada has promised to strengthen border security, with new helicopters, technology, and around 10,000 personnel being deployed to protect the border. He added that resources will also be increased to stop the flow of the drug fentanyl. Canada's economy relies heavily on its North American neighbor, with nearly two-thirds of its exports heading across the border to the U.S. Economists warn that if the tariffs are finally imposed, the fallout could be devastating. Gray stressed the importance of an open trading system, saying that clearing all obstacles to global trade helps strengthen the world economy. He warned Trump's approach risks having a detrimental effect which could backfire on his own country. Prior to Monday's development, Trump had signed executive orders on Saturday to impose a 25 percent additional tariff on imports from Canada and Mexico and a 10-percent tariff hike on imports from China, with the move drawing widespread opposition and sparking immediate retaliations. The tariff order on Canada was for 25 percent on all imports and 10 percent on energy products. Canada immediately hit back with 25-percent tariffs on over 100 billion U.S. dollars worth of American goods, before the implementation was paused on Monday. Shotlist: Ottawa, Canada - Recent: 1. Various of Canadian national flag, Parliament buildings under repair, tower cranes working; 2. Various of Canadian national flag on buildings, pedestrians; 3. SOUNDBITE (English) Ottawa resident (name not given) (starting with shot 2): "To me, it almost feels like Trump is just dangling the carrot, just to see the reactions of people. And as long as he holds them off, I think it's better for everybody, right? Because as soon as that starts, (the price of) everything is going to go sky-high."; 4. Sculpture reading 'Ottawa'; 5. Center Block of Parliamentary building, cranes, trees; Canada - Recent 6. Aerial shot of snow-covered ground; Windsor, Canada - Recent 7. Various of Ambassador Bridge at Canada-U.S. border; Ottawa, Canada - Recent 8. SOUNDBITE (English) David Gray, professor of economics, University of Ottawa (starting with shot 7): "We will be plunged into a deep recession, which is not in the interests of the United States. It's going to cause economic chaos, [and] a fair degree of economic chaos in the United States as well."; [SHOT OVERLAYING SOUNDBITE] Windsor, Canada - Jan 30, 2025 9. Various of bridge, traffic, flags, pedestrians; [SHOT OVERLAYING SOUNDBITE] Ottawa, Canada - Recent 10. Various of Gray working in office, using calculator; FILE: Los Angeles, USA - Nov 9, 2017 11. Various of containers being unloaded at port; FILE: Nuevo Laredo, Mexico - March 10-11, 2022 12. Various of freight vehicles on road; FILE: Canada - Date Unknown 13. Various of worker moving goods with forklift in warehouse; Ottawa, Canada - Recent 14. SOUNDBITE (English) David Gray, professor of economics, University of Ottawa (starting with shot 13/partially overlaid with shot 15/ending with shot 16): "(It was) international trade and globalization, both in goods and services and also across financial markets that really broke the back of the inflationary spiral in the 1970s. Donald Trump does not want to take the U.S. economy back to the 1970s when we had rising inflation and rising interest rates."; [SHOT OVERLAYING SOUNDBITE] 15. Various of Canadian national flags, tower cranes, pedestrian; [SHOT OVERLAYING SOUNDBITE] 16. Parliamentary building under refurbishment; Ottawa, Canada - Feb 2, 2025 17. Parliament Hill, cranes; 18. Canadian national flag on parliamentary building; 19. People ice skating. [Restriction - No access Chinese mainland]
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