
New Trump tariffs are coming. Where will Canadians feel the pinch first?
Global News
From groceries to cars and medication, here's what will get expensive first as a new round of tariffs is set to hit Canadians this week.
A fresh round of U.S. President Donald Trump’s tariffs is set to hit Canada this week and experts are warning that Canadians will feel the pinch almost immediately on some items.
Trump has announced plans for “reciprocal” tariffs on foreign goods entering the country from countries with tariffs or trade measures that he says impede the flow of American goods into that country.
The reciprocal tariffs will be on top of sweeping 25 per cent tariffs put on Canada and Mexico at the start of March, as well as the 25 per cent steel and aluminum tariffs earlier this month.
The “reciprocal” tariffs don’t name Canada or Mexico specifically but would apply to all of America’s trading partners with a broad range of trade measures. These tariffs, along with a tariff on all foreign-made vehicle imports into the United States, will go into effect Wednesday.
Tu Nguyen, economist at RSM Canada, said, “It remains uncertain exactly which tariffs will come into effect April 2, and what Canada’s response will be.”
“However, it is likely there will be more tariffs from the U.S. on Canadian imports as well as retaliatory measures from the Canadian government on U.S. imports,” Nguyen said.
So where will you feel the impact?
Mike von Massow, food economist at the University of Guelph, said the impact of Canada’s expected retaliatory tariffs on the U.S. would be “immediate, but not substantial.”