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broader tariffsGlobal News
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70% Informative
Some experts are warning that consumers could see higher prices for goods, from solar panels to cars, over the next couple of years .
The 2024 fall economic statement announced “ Canada ’s intent to impose tariffs on imports of certain solar products and critical minerals from China early in the new year ” The year 2026 could see even broader tariffs on Chinese imports.
“In the industrial sector, equipment such as engines, generators, and advanced machinery — commonly sourced from the U.S. — might become more expensive. These increased costs could ripple through to industries like manufacturing, construction and energy production, potentially slowing projects and raising prices for end users,” he said. If Canada were to impose retaliatory tariffs on the U.S. , Johnson said it could lead to significantly higher prices. “It might have broader effects on inflation expectations,” he said..
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