Re-escalating Trade War Puts Canada’s Economic Rebound at Risk: Economists
Economists are warning that a re-escalation in the trade war with the United States puts Canada’s burgeoning economic recovery at risk. The U.S. imposed 50 percent tariffs on roughly $28 billion worth of Canadian goods over the weekend after trade talks fell apart. The tariff targets, which include cement, honey, alcohol and textiles, amount to [...]
TL;DR
- Economists warn that renewed trade war with the U.S. endangers Canada's economic recovery.
- The U.S. has implemented 50 percent tariffs on about $28 billion of Canadian goods.
- Tariffed items include cement, honey, alcohol, and textiles, impacting roughly five percent of Canada's exports to the U.S.
- Machinery, electronics, furniture, and textile industries are expected to suffer significant losses.