Shafaqna English– This week, Canada is set to face another wave of 50% U.S. tariffs, a move that business leaders warn could result in significant layoffs across sectors that are already economically fragile. At the same time, this fresh trade barrier is expected to further complicate the already delicate negotiations surrounding the future of the North American free trade agreement.
In a move that resurrects a legal tool from the Great Depression, President Trump utilized Section 338 of the Tariff Act of 1930 last month to greenlight new import taxes on a diverse range of Canadian products, effective this Wednesday.
The tariff list covers everything from household furniture and dairy items to construction materials like cement, as well as apparel, sporting goods including fishing rods and hockey sticks, along with numerous other exports, thereby targeting multiple pillars of Canada’s cross-border trade.
Source: Reuters