U.S. President Donald Trump has announced plans to escalate tariffs by increasing levies on cars, trucks, and steel to 50% starting January 1. This decision follows the imposition of new tariffs on various Canadian goods valued at $28 billion, following the breakdown of trade negotiations.
CBC’s Senior Business Reporter, Peter Armstrong, returns to discuss the implications of proceeding without a trade agreement on Canada’s economy. He also explores the potential nature of Prime Minister Mark Carney’s proposed retaliatory tariffs that match the U.S. tariffs dollar-for-dollar.
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