Tariffs 101: How Canada's counter-tariffs on U.S. goods work, and what they'll do

June 29, 2018

A lot of things are going to get more expensive — and that's the best-case scenario

In response to U.S. tariffs on steel and aluminum, Canada is poised to fight back with its own dollar-for-dollar tariffs set to come into effect on July 1.

Steel and aluminum are on the list of products targeted for Canadian counter-tariffs totalling $16.6 billion. So are things like pickles, beer kegs and chocolate.

On top of that, there's also the looming threat from U.S. President Donald Trump of 25 per cent tariffs on vehicles, though no formal action has been taken to impose those tariffs yet.

The Canadian government asked for suggestions from the public when crafting the counter-tariff list — but with such a broad range of products it can be difficult to understand the full impact on Canadian consumers.

Here's a look at how the tariffs will work and their possible impact, in the words of experts who spoke to parliamentarians and CBC News.

What do the tariffs mean at ground level? Take pickles, for example...

This was excerpted from the 29 June 2018 edition of CBC News.

Topic(s)

Acts & Regulations

Information source

Canadian News Channel

Disclaimer

The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.

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