"Tariffs are in the end taxes. And somebody has to pay that tax. I think one thing people are forgetting is that trade disputes are two-sided. When the United States imposes tariffs on a partner like Canada, there is always a possibility that Canada will say that's not fair and retaliate. And at that point, you have to ask the question, - which U.S. industry will suffer because the Canadians retaliated against it?"