According to CNBC, Canada's ambassador to the U.S., Mark Wiseman, warned Wednesday at the B20 summit that President Donald Trump's tariffs are increasing investment costs and discouraging business expansion. Wiseman called for removing tariffs imposed under Sections 232 and 338 of U.S. trade law, saying greater certainty would help businesses make long-term investment decisions. U.S. customs duties on imports from Canada reached $10 billion in 2025, compared with $400 million in 2024. An October study by New York Fed researchers found that nearly 90% of tariff costs were passed on to U.S. importers, with about a quarter of tariff increases eventually reaching consumer goods prices and further price pressures expected in 2027.