Trump's New Tariffs on Canada Risk Backfiring on US Economy

US President Donald Trump imposed new 50% tariffs on Canadian goods worth $20 billion on August 22, following failed trade talks, with experts warning consumers will ultimately bear the costs. Canada retaliated with matching tariffs on US products like steel and dairy, effective September 8. Business groups warn the escalating trade war will disrupt supply chains and raise costs for companies and families. The Business Roundtable and Canadian small business associations urge renewed negotiations, citing significant potential losses for exporters. Trump aims to protect US industry, but economists caution the tariffs may backfire economically.