{"id":4756,"date":"2026-07-23T09:05:41","date_gmt":"2026-07-23T09:05:41","guid":{"rendered":"https:\/\/homebuyerrelocation.com\/?p=4756"},"modified":"2026-07-23T09:05:41","modified_gmt":"2026-07-23T09:05:41","slug":"trumps-tariff-threat-could-impact-canadian-economy-but-may-be-negotiation-tactic-experts-say","status":"publish","type":"post","link":"https:\/\/homebuyerrelocation.com\/?p=4756","title":{"rendered":"Trump\u2019s tariff threat could impact Canadian economy but may be negotiation tactic, experts say"},"content":{"rendered":"
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VANCOUVER, British Columbia \u2014 The U.S. threat of 50% tariffs on Canadian goods will have a ripple effect on the country\u2019s economy but also could be a negotiation tactic by the U.S. administration, experts say.<\/p>\n

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The new tariffs, announced by U.S. President Donald Trump on Monday, are scheduled to come into effect Aug. 19. They cover a wide range of goods, including honey, liquor, cement, dairy products, some wood products, hockey sticks, essential oils, perfumes, candles, dog leashes and wigs.<\/p>\n

They exclude energy products, potash, fish and critical minerals, but would include goods previously protected from import taxes by the United States-Mexico-Canada Agreement, or USMCA. That 2020 trade pact was not renewed by the U.S., triggering a new set of negotiations that could run until 2036.<\/p>\n

Prince Edward Island Premier Rob Lantz said the tariffs create uncertainty.<\/p>\n

\u201cWe\u2019re living in a time when uncertainty is the new norm,\u201d Lantz said Wednesday following a meeting of the country\u2019s premiers and territorial leaders in the province\u2019s capital, Charlottetown.<\/p>\n

Randall Bartlett, deputy chief economist with Desjardins, one of Canada\u2019s largest financial institutions, said the tariffs will impact about $28 billion Canadian ($19.8 billion) worth of annual Canadian exports to the United States. That\u2019s about 5% of what the U.S. imports from Canada each year.<\/p>\n

They have the potential to shave two to three tenths of a percent off growth in 2026 and 2027 in Canada, Bartlett said, although he said he didn\u2019t expect a recession.<\/p>\n

\u201cWe\u2019re expecting it to keep more investment on the sidelines (and) probably suppress hiring. That weighs on consumer activity and residential investment as well,\u201d Bartlett said.<\/p>\n

Fen Osler Hampson, a professor of international affairs at Carleton University in Ottawa, said the products hit by the tariffs are items U.S. consumers can decide not to purchase if prices rise.<\/p>\n

Losing U.S. customers could lead to layoffs for companies that employ 10 to 200 workers that are the \u201cbackbone of the Canadian economy.\u201d<\/p>\n

\u201cThat does have ripple effects in an economy because if people are out of a job, they\u2019re not going to be spending,\u201d said Hampson, who is co-chair of the Expert Group on Canada-U.S. Relations.<\/p>\n

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Dennis Barby, president and CEO of Canadian Manufacturers and Exporters, said the tariffs would inflict serious damage on manufacturers, workers and consumers on both sides of the border.<\/p>\n

\u201cThese tariffs will raise costs, disrupt production, and make North America less competitive at a time when we should be strengthening our shared industrial base,\u201d Barby said in a release.<\/p>\n

British Columbia Premier David Eby said it\u2019s frustrating the U.S. is proposing tariffs on some Canadian goods while also looking to invest in Canadian mines to secure metals and minerals.<\/p>\n

\u201cYou can\u2019t have a country on one hand attacking one group of families and workers while hoping to have access to the resources in Canada that the rest of the world wants,\u201d said Eby, who added that Canada should limit access to the resources the U.S. wants if its stance remains.<\/p>\n

Experts Bartlett and Hampson said the tariffs could be a negotiation tactic, and may not come into effect. Still, Canadian trade negotiators should be cautious moving forward, they said.<\/p>\n

Hampson warned against retaliatory tariffs or reducing oil or electricity shipment to the U.S.<\/p>\n

\u201cYou don\u2019t want to poke the bear,\u201d he said. \u201cYou get into that kind of war, we\u2019re going to lose. We\u2019re the smaller economy. They can absorb a hit much more than we can.\u201d<\/p>\n

Hampson said the tariffs could reflect the tense relationship between Trump and Canadian Prime Minister Mark Carney, which has soured since Carney criticized his counterpart at the World Economic Forum in Davos.<\/p>\n

Read more French modeling scout tied to Epstein found dead in his home<\/a><\/p>\n

On Tuesday, Carney said he and Trump have agreed to intensify trade talks.<\/p>\n<\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The U.S. threat of 50% tariffs on Canadian goods will have a ripple effect on the country’s economy but also could be a negotiation tactic by the U.S. administration, experts say.<\/p>\n","protected":false},"author":1,"featured_media":4755,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,62],"tags":[2743,14,2301,2742],"class_list":["post-4756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-world","tag-british-columbia","tag-donald-trump","tag-mark-carney","tag-vancouver"],"yoast_head":"\nTrump\u2019s tariff threat could impact Canadian economy but may be negotiation tactic, experts say - Home Buyer Relocation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/homebuyerrelocation.com\/?p=4756\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump\u2019s tariff threat could impact Canadian economy but may be negotiation tactic, experts say - 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