Here’s where Canada’s counter-tariffs will hit Canadian wallets the hardest

Canadian consumers may soon face higher prices on a range of products as a result of new counter-tariffs imposed on hundreds of U.S. goods worth approximately $28 billion. These measures, a response to the U.S. tariffs on Canadian products, particularly in the dairy, alcohol, and automotive sectors, could lead to increased costs for Canadian businesses and, in turn, higher prices for consumers.

According to John Boscariol, a partner at McCarthy Tétrault, food and beverage items, especially those involving dairy products, are likely to be the most affected. Appliances, especially home appliances, and agricultural products are also expected to be impacted. The counter-tariffs, which range from 15 to 50 percent, apply to various consumer goods, including U.S. dairy products, seafood, furniture, beauty items, clothing, and protective clothing.

Additionally, "intermediate" goods, such as tower cranes, jacks and hoists, forklift trucks, lawn mowers, rail locomotives, train parts, and railway maintenance vehicles, will also face higher taxes. These items are crucial for manufacturing processes, potentially leading to increased costs for a broader range of goods. Steinberg warns that as the cost of business rises due to these tariffs, consumers may ultimately bear the brunt of higher prices.

Despite the potential price hikes, a recent Angus Reid Institute poll indicates that most Canadians are willing to endure some cost increases in order to maintain their "buy Canadian" stance.