I was on the CBC News’ Weekend Business Panel this week speaking about Trump’s Tariffs, part 2, and the end of the HST holiday.
- No one wins in a trade war. The 2018 aluminum and steel tariffs cost 75,000 jobs in the US and 2,000 people in EI, just in the few months they were up. Trying to choose winners and losers creates a few temporary winners at the cost of everyone else. The BoC is now being more measured, as they know they won’t be able to respond with force if we have tariff-induced stagflation.
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The HST holiday was, as I said in the panel in December, a whole lot of nothing. Almost no growth impact, with only restaurant owners and workers reporting a significant increase in sales. We are waiting to see its impact on the government’s debt, which, if meaningful, would mean we are all paying for this in the future.
Give it a watch below!