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New York Governor Kathy Hochul is meeting with Canadian Consul General Tom Clark today (February 4) in New York City. This meeting follows Hochul's expressed concerns over a potential tariff war between the United States and Canada, which could significantly impact New York's economy. Governor Hochul warned that tariffs could cost New York families an average of $1,300 to $1,400 this year.
The tariffs were initially announced by President Donald Trump, targeting imports from Canada, China, and Mexico. However, after discussions with Canadian and Mexican leaders, the tariffs were delayed for 30 days. President Trump stated that Canada had promised to enhance border security, which led to the temporary hold on the tariffs.
The proposed tariffs would impose a 25% duty on all imports from Canada and a 10% tariff on energy, including oil. In response, Canadian Prime Minister Justin Trudeau announced a 25% tariff on certain U.S. goods. According to Times Union, New York shares a 445-mile border with Canada, and the two economies are closely linked, exchanging over $50 billion in annual trade.
During his visit, Tom Clark plans to discuss tariff negotiations with Hochul and state legislators. Clark noted that Canada had already invested $913 million in border security following Trump's earlier threats. He expressed confusion over the tariff threats, citing a significant decline in illegal crossings from Canada into the U.S. since last summer.
The tariffs, if enacted, could lead to increased gas prices and higher costs for Canadian imports. However, Canada's retaliatory tariffs are expected to have less immediate impact on New Yorkers, as they target products from Trump's political strongholds.
Governor Hochul has designated today as "Canada Day" in New York, celebrating the state's longstanding economic and cultural ties with Canada.