Since November, President Donald Trump has threatened to impose broad 25 per cent tariffs on Canadian goods. He’s repeatedly claimed the country has no need for Canada’s exports — cars, lumber, oil and food products in particular — because America makes “the same products on the other side of the border.”
Experts predict the ripple effects of a trade war could be crushing for both economies. Canadian and American farmers, who have long relied on a steady exchange of crops, equipment, fertilizer and other agricultural goods, are bracing for impact.
Canada is an important trading partner, both as a customer and as a supplier of crucial inputs like potassium fertilizer.
And I bet the food industry will use it as an excuse to add a whole bunch of greedflation on top of it as well like they did during the pandemic. Especially with the current administration, they know they’ll get away with it.
After prices go up, if the market absorbs the change, they rarely go back down quickly or at all… after all, if people can afford 25% more, why sell it cheaper?
The Westons and Waltons of the world are cackling about this right now, guaranteed.
relevant 22 Minutes sketch