Tariffs are a central pillar of Donald Trump’s economic agenda. They are not a one-off, but a policy move. Photo by Mark Schiefelbein / The Associated Press By Lance Mortlock

When Donald Trump returned to the White House in January, trade became his bluntest policy tool. By February, the new administration announced sweeping tariffs : 25 per cent on most Canadian imports, 10 per cent on energy, and similar penalties on Mexico and China. After a series of short delays, those tariffs are now in force — and Canadian businesses are feeling the pain.

The timing could not be worse. Growth has slowed, inflationary pressures remain stubborn and investment is tentative. Canada sends nearly 80 per cent of its exports south of the border. That is $600-billion-plus in goods and services —

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