Ottawa’s Counter-Tariffs on US Costing Canadians $100 Million Weekly, Economist Says
Ottawa imposed counter-tariffs on $28 billion of American imports on Sept. 8 in response to the United States' tariffs on Canada in August.
TL;DR
- Canada's retaliatory tariffs on U.S. imports are costing consumers $100 million weekly.
- Consumer prices have increased by roughly 0.25 percent due to these tariffs.
- Tariffs range from 15% on farm equipment to 50% on smartphones, furniture, aluminum, and steel.
- Individuals earning under $30,000 annually have seen their disposable income cut by half a percentage point.