Brenda Swick has been quoted in an article titled “Canada Has Taken in Almost $300 Million From Retaliatory Tariffs on US Imports,” published by CBC News.
CBC News reports that Canada has collected nearly $300 million in surtaxes in the two months after it slapped US imports with retaliatory tariffs, and the Government of Canada has indicated that the money raised from reciprocal tariffs will be given back in the form of support for affected sectors.
However, writes Kathleen Harris: “Experts warn consumers will be the biggest losers in President Trump’s escalating trade war.”
Brenda agrees, noting that trade always goes through cycles of protectionism and globalism, and this US-led jolt will cause widespread disruption to supply chains and impose added costs on consumers: “Until something changes in America, because America is the country that is causing this spiral – then countries are going to keep reacting and it’s the consumer who pays.”
She goes on to say that a NAFTA agreement will mean tariffs are eventually lifted, but that it won’t happen overnight. Overall, says Brenda: “The tariffs are going to be here for a while.”