US-Canada Trade War: How And When Will It Impact You?

Over the summer, tensions between the U.S. and Canada have continued to ratchet up over trade. President Donald Trump announced in July that in 30 days, he would be slapping a large swath of Canadian goods–including wine, dairy, cement, furniture, and ice hockey gear–with a 50% tariff. In mid-August, Trump posted that he was pausing those tariffs for three days because the U.S. and Canada reached a deal, but right before that pause was set to expire, Canadian Prime Minister Mark Carney walked away from the negotiating table, saying “last-minute changes in the U.S. proposed terms were unfair, uneconomic, and called into question the reliability of any deal.” Tariffs on approximately $28 billion worth of Canadian goods then went into effect, and in turn, Carney vowed to retaliate by matching the United States’ tariffs dollar for dollar. David Warrick, an executive vice president at Overhaul, joined “Forbes Newsroom” to discuss the impact this trade war will have on global supply chains. Learn more about your ad choices. Visit megaphone.fm/adchoices