Bloomberg Surveillance · Saturday, August 29, 2026
The United States has imposed 50% tariffs on certain Canadian goods, with Canada retaliating. This escalation is expected to increase costs for consumers, particularly affecting the auto industry with higher prices for auto parts, and also impacting lumber and paper.
“Now slapping 50 percent tariffs on certain Canadian goods, Canada retaliating as well.”
“And it will affect both sides of the border, of course. Obviously, it's going to affect Canada's economy a lot more. But for American consumers, they can expect auto parts. This is really going to hit the auto industry.”
“Auto parts haven't been tariffed at all. Now they're threatening to bring in 50% tariffs. So that's going to be It's going to be more expensive to get your car repaired, more expensive to get a car.”