VANCOUVER: The US threat of 50 per cent tariffs on Canadian goods will have a ripple effect on the country’s economy but also could be a negotiation tactic by the US administration, experts say.
The new tariffs, announced by US President Donald Trump on Monday, are scheduled to come into effect Aug 19. They cover a wide range of goods, including honey, liquor, cement, dairy products, some wood products, hockey sticks, essential oils, perfumes, candles, dog leashes and wigs.
They exclude energy products, potash, fish and critical minerals, but would include goods previously protected from import taxes by the United States-Mexico-Canada Agreement, or USMCA. That 2020 trade pact was not renewed by the US, triggering a new set of negotiations that could run until 2036.