Canada Rejected US Tariff Deal. Now Comes the Economic Cost
8 Articles
8 Articles
Canada’s tariff counterattack exposes the limits of Washington’s economic pressure
Washington may have expected its closest allies to absorb its latest tariff measures quietly. Instead, Canada has chosen confrontation through the same instrument Washington has increasingly used to pressure its trading partners: tariffs. Ottawa’s decision to respond with reciprocal measures marks more than another chapter in a North American trade dispute. It reflects a broader challenge to the assumption that political alliances automatically …
The tariffs, effective 4:00 AM GMT, cover approximately $20 billion worth of goods, ranging from hockey bats to tongue depressors. Trade experts say the tariffs may lead to some job losses, but the biggest impact is expected to be on the political level, widening the rift between the two traditional allies. The two sides seemed close to reaching an agreement on Friday to reduce tariffs on steel, aluminum, and automobiles, but the deal fell throu…
The collapse of the trade agreement between the United States and Canada is a much bigger issue. President Donald Trump got greedy, writes Kauppalehti journalist Tuomo Hyttinen.
There is also growing concern in the private sector about possible impacts on the price formation process and economic growth.
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