Michael Silver is CEO of the advanced materials manufacturer American Elements. Presidential candidate Donald Trump called tariffs “the most beautiful word in the dictionary.” Now incoming president Trump says he’s planning 10% tariffs on Chinese goods on day one of his new administration.

China’s move to ban exports of rare metals to the US underscores the need for trade cooperation between mineral-rich Canada and its southern neighbor.

I n the weeks after Donald Trump’s sweeping election victory, American companies sought to reassure investors that they were amply prepared for a new round of tariffs. Some, like Stanley Black & Decker,