Canada's Counter-Tariffs to Hurt Citizens More Than Americans

The Canadian government has removed seafood from its list of retaliatory tariffs in response to feedback about broader economic harms. This decision was made based on a statement by the finance ministry, which cited concerns about protecting against economic impacts.

However, critics argue that this move is not justified and will ultimately hurt Canadians more than Americans. They point out that President Donald Trump's tariffs are essentially a tax paid for by domestic consumers, as Ontario Premier Doug Ford and Prime Minister Justin Trudeau have previously stated.

When Canada first imposed retaliatory tariffs last year, the Bank of Canada found that prices on tariffed goods rose six per cent and added 0.3 percentage points to headline inflation. With the new round of counter-tariffs set to take effect on September 8, Canadians can expect some costs to be passed on to them as consumers.

Moreover, Ottawa has committed $7.5 billion in support for workers and businesses affected by the tariffs, meaning that Canadians are paying twice: first as consumers, and then again as taxpayers.