As U.S. tariffs on Canadian goods prepare to take effect March 4, economists are sounding alarms about potential economic fallout —particularly for Canada’s auto sector. The 25% tariffs, first announced last month, could disrupt supply chains and raise costs for automakers and consumers alike.
“Auto manufacturing is the backbone of Ontario’s economy, and these tariffs threaten thousands of jobs,” warned economist Lisa Tran in a Globe and Mail interview. Talks between Ottawa and Washington remain stalled, with industry leaders urging rapid intervention to avoid “a domino effect on North American trade”.
For young professionals tracking global markets, the stakes are high. The tariffs could lead to pricier electric vehicles and delayed innovation, hitting eco-conscious buyers and tech startups. Meanwhile, travelers might see car rental costs spike ahead of summer road trips 🚗.
CGTN’s Dan Williams reports from Ottawa that small businesses are bracing for impact. Stay tuned for updates as tensions unfold!
