How the US-Canada trade war is affecting Northeast Ohio businesses, consumers

The ongoing trade war between the U.S. and Canada could have lasting economic and political implications for both countries, particularly for businesses in Northeast Ohio. Starting next week, Canada will begin charging retaliatory tariffs on American goods being shipped into their country. The U.S. was the first to kick off this battle with the same move on Canadian products coming into the United States, effective as of Aug. 22. The Trump administration imposed the tariffs after Canadian Prime Minister Mark Carney walked away from trade talks, citing U.S. demands that he said would "destroy" big Canadian industries including the auto, steel and aluminum sectors. We unravel that complicated concept on Wednesday's edition of the "Sound of Ideas" hosted by Stephanie Haney, in light of the fact that many Canadian companies are deeply integrated with American business operations within the U.S. In the absence of a deal, both countries have opted to tax around $20 billion worth of annual exports from the other, at a rate of 50%. With Canada being largely considered the United States' closest political ally as well as Ohio's largest international trading partner, we discuss the potential fallout of this disagreement. Guests: - Dan Ujczo, Associate General Counsel, Cenovus Energy - Katie Nicholson, Washington, DC Correspondent, Canadian Broadcasting Corporation News - Bill Kosteas, Ph.D., Professor of Economics, Cleveland State University