These are the places most vulnerable to U.S. tariffs

July 3, 2018

As Canada's retaliatory tariffs on billions of dollars worth of American goods come into play, the immediate effect of the escalating trade dispute on the Canadian economy is expected to be small, economists say.

"About 0.8 per cent of annual Canadian output is affected by these [U.S.] tariffs," Brian DePratto, senior economist at TD Economics, wrote after U.S. President Donald Trump imposed new tariffs on Canadian steel and aluminum on June 1.

"As such, these tariffs are likely to have a very minor direct effect on economic activity, jobs and consumer price inflation."

But the good news stops there, because in North America's interconnected economy, it's not just the producers of steel and aluminum that will feel the brunt...

This was excerpted from the 2 July 2018 edition of CBC News.

Topic(s)

Trade Agreements

International Trade and Border Management

Information source

Canadian News Channel

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