Economist Trevor Tombe assesses the economic impact of Canada's retaliatory tariffs on the United States

Trevor Tombe, Professor of Economics at the University of Calgary, testified before the House of Commons Standing Committee on Foreign Affairs to assess the economic impact of Ottawa's retaliatory tariffs on the United States. The retaliatory tariffs took effect on September 8, covering C$28 billion worth of U.S. imports at rates ranging from 15% to 50%, as a reciprocal response to U.S. tariffs that took effect on August 22. Tombe stated that the retaliatory tariffs alone generate approximately C$100 million in additional costs per week for consumers, pushing up overall prices by about 0.25% and reducing the disposable income of Canadians earning less than C$30,000 annually by 0.5 percentage points. He believes the economic rationale for the retaliatory tariffs is weak and has had no substantive impact on U.S. policy.

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