Published • loading... • Updated
Canada's reciprocal tariffs unlikely to hit consumers' grocery bills, economists say
Economists say most grocery prices should stay stable because many targeted goods are made in Canada or can be replaced by other suppliers.
- On Tuesday, Canada implemented reciprocal tariffs ranging from 15 to 50 per cent on United States imports, including dairy, cosmetics, and textiles, in response to U.S. trade measures.
- Prime Minister Mark Carney said in a video released Tuesday that U.S. negotiators sought to make Canada 'to become even more reliant on them, not less,' framing the tariffs as a defensive pivot.
- Economists including KPMG chief Ali Jaffery and Desjardins principal Florence Jean-Jacobs say the duties are unlikely to substantially raise grocery bills because most targeted imports are also produced in Canada.
- Sam Sanderson, executive director of the Construction Association of Prince Edward Island, warned that about 65 per cent of construction materials originate from the United States, exposing firms to immediate cost increases.
- MacArthur's Appliances owner Chris Welton reports customers are increasingly avoiding American-made products, noting the country of origin 'comes up almost in every conversation with a customer' during purchases.
Insights by Ground AI
12 Articles
12 Articles
Winnipeg Free Press+5 Reposted by 5 other sources
Canada's reciprocal tariffs unlikely to hit consumers' grocery bills, economists say
Retaliatory tariffs may not push grocery prices higher, but other products such as health and beauty items are set to get more expensive, economists say.
·Winnipeg, Canada
Read Full Article
Most food products have escaped the impact of trade tensions, while Canada's retaliatory tariffs came into effect on Tuesday. However, economists believe that some items, such as health and beauty products, may experience price increases in the short term.
·Montreal, Canada
Read Full Article
Coverage Details
Total News Sources12
Leaning Left5Leaning Right0Center4Last UpdatedBias Distribution56% Left
Bias Distribution
- 56% of the sources lean Left
56% Left
L 56%
C 44%
Factuality
To view factuality data please Upgrade to Premium
