Canada stares down consequences of Trump tariff war: Job losses, grocery price hikes, possible recession

LebenthalGlobalAdvisorsCIODominickTavelladissectsthepotentialeffectsofPresidentDonaldTrumpimposinga25%tariffonimportedvehicleson‘FoxNewsLive.’ CanadaisbracingforthefalloutofPresidentDonaldTrump’sescalatingtradewar,witheconomistswarningofspikinggroceryprices,majorjoblossesandevenapotentialrecessionifthreatenedU.S.tariffstakeeffect. TheUnitedStatesisCanada’slargesttradingpartner,accountingfornearlytwo-thirdsofCanadianimportsandreceivingover70%ofitsexports.ButunderTrump’snew“liberationday”tariffs–25%onCanadiangoodsand10%onenergy–Ottawanowfacesaneconomicgutpunchthatcouldrippleacrosskeyprovinces,industriesanditsnationalelectioncampaign. Trumphasrepeatedlyblastedwhathecalls“unfair”tradepractices,citingCanada’stradeimbalancewiththeU.S.tojustifythesweepingtariffs. “ThisisthebeginningofliberationdayinAmerica,”Trumpsaidlastweek.“We’regoingto