Canada, which is Maine’s largest trading partner, could be particularly hard hit by a 25% universal tariff, as suggested by the president.
Tariffs that are central to President Donald Trump’s economic policies could destabilize markets for many Maine products from lumber to lobsters to electricity.
The president has said he will impose tariffs of 25% of the value of a product imported from Mexico and Canada beginning Saturday. His reasons are numerous: to prod businesses to move production to the U.S.; to punish trading partners he says are unfairly competing against the U.S. because of policies, such as government subsidies, that distort markets; to raise revenue; and to pressure governments to negotiate on issues such as illegal immigration.