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Trump's tariff threat could impact Canadian economy but may be negotiation tactic, experts say
The U.S. announced 50% tariffs on Canadian goods including honey, liquor, and wood products, effective August 19, excluding energy and critical minerals. Experts warn the tariffs could reduce Canadian exports by $28 billion annually and suppress economic growth by 0.2-0.3% in 2026-2027, while the USMCA trade pact remains unresolved.
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