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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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INSIGHT

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.
ADVICE

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.
INSIGHT

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.
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