Mark Carney shows the world how to bite back at Trump’s tariffs
Canadian Prime Minister Carney has announced the suspension of Canada-United States trade talks, citing “last-minute changes” made by American negotiators that “were unfair, uneconomic and called into question the reliability of any deal.” Within hours, President Donald Trump’s new Section 338 tariffs, targeting US$28 billion in Canadian goods, took effect. Early estimates project that the […]…
In an unexpected shift, the Canada-U.S. trade relationship has become increasingly strained as the U.S. has implemented higher tariffs on Canadian goods. In response, Canada has officially announced retaliatory tariffs set to take effect on September 8. The implications for the Canadian economy and the wisdom of this retaliatory action are subjects of debate.
The National Post's Rob Breakenridge sat down with Trevor Tombe, an economics professor at the University of Calgary and director of fiscal and economic policy at the School of Public Policy, to discuss the economic repercussions of this escalating trade war. Tombe explains that tariffs function as a kind of tax, placing the brunt of the burden on Canadian consumers and businesses.
Similarly, the U.S.'s aggressive tariffs will have a similar impact. The conversation will delve into the potential fallout from this trade war, exploring the concept of tax reform that the Carney government could employ to minimize the damage while simultaneously enhancing Canada's competitiveness and productivity.
Written by urgent.news from National Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
