

Steel tariffs, sinking exports, and a frozen housing market
8 snips Jun 7, 2025
Tariffs on steel and aluminum from the U.S. are shaking up Canada's economy, prompting tough discussions on retaliation strategies. The Canadian real estate market faces a crisis with record low home sales and plummeting prices amid soaring interest rates. Meanwhile, private broadcasters grapple with dwindling television revenues and stagnant radio growth, painting a stark picture of the country's economic landscape.
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Canada's Tariff Retaliation Flaws
- Canada's retaliation tariffs are currently ineffective, costly, and confusing.
- Large-scale retaliation risks harm to Canadian families and may not deter the U.S.
Targeted Support Beats Symbolic Tariffs
- Focus retaliation on protecting industries actually threatened by U.S. tariffs, like steel.
- Use targeted counter tariffs plus supports like wage subsidies and market access help.
Strategic Retaliation Over Tit-for-Tat
- Simply matching U.S. tariffs dollar for dollar doesn't deter actions and increases costs to Canadians.
- A more strategic, calibrated response focusing on key industries is needed for better outcomes.