For Canada, the ruling reinforces its position that Trump’s tariffs are “unjustified,” said Canada-U.S. Trade Minister Dominic LeBlanc.
“While Canada has the best trade deal with the United States of any trading partner, we recognize that critical work lies ahead to support Canadian businesses and workers who remain affected by Section 232 tariffs on steel, aluminum and automotive sectors,” LeBlanc said in a statement.
He added Canada’s relationship with America is currently going through a “period of transformation.”
Business uncertainty
For companies doing business in the United States, the greatest concern is uncertainty.
William Bain, head of trade policy at the British Chambers of Commerce, which represents over 50,000 British businesses, said the ruling “does little to clear the murky waters for business,” pointing out that the president could theoretically use the 1974 Trade Act to impose even higher tariffs on the U.K.
“The court’s decision also raises questions on how U.S. importers can reclaim levies already paid and whether U.K. exporters can also receive a share of any rebate depending on commercial trading terms,” he added.
