Trump's 50% Tariffs Threaten 90,000 Canadian Jobs as Exports Risk Stopping Altogether
Updated
Updated · The New York Times · Aug 25
Trump's 50% Tariffs Threaten 90,000 Canadian Jobs as Exports Risk Stopping Altogether
3 articles · Updated · The New York Times · Aug 25
Summary
Up to 90,000 Canadian jobs could be lost after President Trump imposed 50% tariffs on affected Canadian goods this weekend, with economists warning some firms may be priced out of the U.S. market entirely.
50% duties are large enough to trigger steep export declines and, for some products, halt shipments altogether, University of Toronto economist Joseph Steinberg said, raising the risk that some producers shut down.
Forestry is among the hardest-hit sectors, facing the new 50% tariffs on products including plywood, laminated wood, fiberboard, paper, tissue and packaging on top of longstanding softwood lumber levies.
The fallout would spread beyond directly targeted exporters, University of Calgary economist Trevor Tombe said, as weaker cross-border trade also cuts demand for related jobs such as truck drivers.
Canadian industry groups say they are being hammered, though the forest products lobby backed Prime Minister Mark Carney's decision to walk away from U.S. trade talks on Friday night.