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Trudeau announces 25 per cent retaliatory tariffs on U.S. goods starting Tuesday
(toronto.citynews.ca)
this post was submitted on 02 Feb 2025
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So from my understanding and the consensus from Reddit/Lemmy when Trump first announced tariffs is this will only hurt consumers because the companies will pass the cost onto the consumer. Now that Canada is doing the same does this means that they are also passing a secret tax to their consumers as well? I'm not Canadian but I thought they were having a hard time with their economy right now so is this the best move to make for the consumer?
I imagine you have a fridge, a stove, and know how to cook. Sometimes you cook at home, sometimes you eat out.
Let’s say that you want to stop eating out, or maybe save money, or maybe you do it just because it’s fun: each time you order out, you put 25% of the bill in a jar at home.
Eating out becomes more expensive for you (now that you need to pay the jar), but the restaurant makes the same money. In the long term, the restaurant might loose out on money if you decide that paying the jar is too expensive and you just decide to cook at home. But hey! You have a jar full of money at home. Maybe you’ll do something with it one day.
Replace the jar with tariffs and cooking out with whatever we buy from around the world and you have what’s happening now.
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