Despite avoiding an imminent trade war with the U.S. over steel and aluminum tariffs, Canada should not be breathing easier, this according to Shark Tank star Kevin O’Leary.
“I don’t think the long-term outcome of the negotiations is going to be better for Canada,” O’Leary told Kitco News. “For example, on steel, what will probably end up in the NAFTA negotiations is proof of source of all steel,” he said.
Canada and Mexico, members of NAFTA, have been indefinitely exempt from the proposed steel and aluminum tariffs. However, this doesn’t mean that Washington will soften its stance towards competing with Canadian industries, said O’Leary, as U.S. protectionism will rear its head in other forms.
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