Trump, criticized for the cost to American pockets of the trade war with Canada
The failure of the negotiations threatens to drive prices even higher just months before the midterm elections.
US President Donald Trump faces backlash over failed trade negotiations with Canada, which may lead to higher prices for American households and businesses. New tariffs on Canadian products worth $20 billion have taken effect, prompting Canada to announce retaliatory measures. US lawmakers, governors, and business leaders warn that the ongoing trade dispute will increase costs and uncertainty for American companies, with some states, such as Michigan and Virginia, expected to be particularly affected.
The Federal Reserve's Neel Kashkari notes that prolonged trade tensions may contribute to persistent inflation.
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