Canada Hits US With Tariffs Of Up To 50%

Summary

Bloomberg Trade Tsar Brendan Murray discusses Canada's retaliatory tariffs on US goods, which range from 15% to 50%. He says the first wave of impact will hit Canadian importers and consumers through higher costs and uncertainty, while the overall affected trade remains small relative to the full US-Canada relationship. He also discusses President Trump's threat to ban Bombardier jets and the potential for US political pushback. The conversation frames the measures as early skirmishes rather than a full trade war.

• Canada imposed tariffs of up to 50% on US products, including steel and consumer goods.
• Tariff escalation matches the level of prior US tariffs on Canadian imports.
• Canadian importers face higher cost structures and may delay business decisions.
• Consumers may also pull back as prices rise on imported goods.
• Only about $20 billion of imports are affected, versus an $800 billion trading relationship.
• The US has more room to escalate because the Canadian economy is about one-tenth the size.
• Trump has threatened to ban Bombardier jets, with possible Congressional pushback due US jobs.