Canada’s ambassador warns Trump tariffs are driving up costs, threatening U.S. investment

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Canada's ambassador to the U.S. warned Wednesday that President Donald Trump's tariffs are driving up investment costs and discouraging business expansion, as new Federal Reserve research points to more price hikes for American consumers next year. "Uncertainty increases your cost of capital," Ambassador Mark Wiseman said at the B20 summit , a gathering of global business leaders in Washington hosted by the U.S. Chamber of Commerce. "If you're going to build a new plant, add a new ship, spend money on R&D, the more certainty you have, the more likely you're going to do that," said Wiseman, a former BlackRock executive who became Canada's ambassador in February.