00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Canada's ambassador to the U.S., Mark Wiseman,
00:06warned Wednesday that Trump's tariffs are raising investment costs
00:09and discouraging business expansion, according to CNBC.
00:13Speaking at the B-20 summit in Washington,
00:16Wiseman said trade uncertainty increases the cost of capital
00:19and makes businesses less likely to invest.
00:22An October study by New York Federal Reserve researchers
00:25found that nearly 90% of tariff costs were passed on to U.S. importers.
00:30with further consumer price pressures expected in 2027.
00:33The U.S. and Canada have resumed trade negotiations
00:36after talks collapsed in August.
00:39Discussions focus on reducing tariffs on Canadian steel and automobiles.
00:44Wiseman called for the removal of tariffs imposed under Sections 232 and 338 of U.S. trade law.
00:51For all things money, visit Benzinga.com.
