Honey to hockey sticks: Trump's 50% tariff net catches 550+ Canadian goods
The US has imposed a 50% tariff on over 550 Canadian goods, including household items, sports equipment, and food products. This trade action has prompted threats of retaliation from Canada, signaling a deepening economic dispute between the two nations.
Why it matters
Illustrates the potential for significant consumer price inflation and supply chain disruption resulting from protectionist trade policies.
Honey, makeup, Christmas decorations and a host of other everyday products have fallen victim to the latest US-Canada trade crossfire.More than 550 Canadian goods are now facing a steep 50% US tariff that came into force on Saturday. The list also includes kitchenware, smartphones, golf equipment, cosmetics, sports gear and household items.The new duties are expected to cover around $20 billion worth of Canadian goods, equivalent to about 5% of the $381.92 billion of products Canada exported to the US last year.The tariff does not cover most of Canada’s exports, but the 50% rate could still weigh on consumers if it remains in place. Importers, the businesses bringing goods into the US, pay the tariffs, with at least some of that additional cost typically passed on to shoppers.
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