Detroit Regional Chamber discusses Trump tariffs amid ever-changing future

DETROIT (FOX 2) - Business leaders gathered for the Detroit Regional Chamber’s State of the Region presentation on Tuesday and a big discussion item surrounded President Donald Trump’s tariffs.

Big picture view:

On Wednesday, President Trump is planning to implement new tariffs on several countries, including Canada, which could strongly impact Michigan’s economy. The Detroit Regional Chamber presented its 11th State of the Region, where many leaders expressed concern over the president's choices. 

"We are in a period of yo-yo tariff policy which in itself is incredibly disruptive for folks who are having to manage across the border," said Colin Bird, Consul General of Canada in Detroit.

What they're saying:

Trump is expected to roll out tariffs on numerous countries, including Canada, targeting imports of our northern neighbor’s energy, oil, and goods. Some of the president’s goals through the tariffs to secure the Canadian border and stop the trafficking of fentanyl.

"It’s a close, close relationship and there’s no good reason for our government at any level to label Canada as a national security threat or a trade partner villain or to suggest that Canada become the 51st state. That is a supreme insult," said former U.S. Ambassador to Canada, James Blanchard.

Other goals of the president are to counter unfair trade practices and encourage American manufacturing.

"We’re gonna bring manufacturing back. Tell me how that’s going to happen in a political cycle? Best case scenario: it takes 3–4 years to build an automotive plant; It takes that same amount of time if you’re lucky to build an aluminum plant," said Detroit Regional Chamber CEO Sandy Baruah. "So how does the Trump Administration from a political standpoint withstand the unemployment that’s going to happen, the slowdown of the economy?"

What's next:

Baruah is bracing for a potential impact of the proposed Liberation Day tariffs pointing out that Michigan will be at the epicenter of any possible fallout because a lot of goods pass back and forth at the border.

On the Canadian side, these tariffs might have them searching elsewhere for a deal.

On Wednesday, Americans will find out exact details on President Trump's tariffs as the situation is ever-changing.