Americans, Canadians both lose in the escalating trade wars
The 50 percent tariffs announced on Aug. 24 by President Donald Trump on all cars, trucks, automotive parts and steel from Canada would crush manufacturers in the United States and raise prices in both countries. The silver lining is that Trump said these import taxes would not take effect until Jan. 1, leaving time for negotiators to disarm an economic land mine. A bilateral deal appeared close the week previous before talks broke down at the 11th hour. Neither Trump nor Canadian Prime Minister Mark Carney wanted to look as if he’s succumbing to bullying from the other, so the ...