Why did Canada slap counter-tariffs on US? BMO chief economist explains

Описание: BMO Chief Economist Douglas Porter spoke with Global's Miranda Anthistle as trade relations between the United States and Canada deteriorate following the failure of trade talks between the neighbours.

Porter said that Trump's 50 per cent levies on roughly five per cent of all of Canada's exports to the U.S. would not "significantly move the dial on inflation," but the more significant impact is "just the deterioration in relations."

Weighing in on Carney's retaliatory tariffs on the U.S., Porter said he's "not in love with counter tariffs," but "it's meant to put pressure on a number of key industries and sectors in the U.S.."

"Is this an irreparable break in relations between Canada and the U.S.? I'd like to believe it isn't. I don't think it is. But can we go all the way back to, you know, the state we were in, say, two years ago? That's a question mark later on, and we'll see how things develop," Porter said.

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