SYLVAIN CHARLEBOIS: Elbows up, food prices up — until Ottawa quietly backed down
Bloomberg reported Thursday that Canada’s food industry is now facing fewer counter-tariffs when importing products from the United States, except for orange juice, coffee and alcohol.
For many, this came as a surprise. According to the federal government’s own records, on April 16 — in the middle of the election campaign — Mark Carney, not yet elected, opted to eliminate most of the retaliatory tariffs imposed by his predecessor, Justin Trudeau.
Subscribe now to access this story and more:
Subscribe or sign in to your account to continue your reading experience.
Create an account or sign in to continue your reading experience.
What’s more, the tariff remissions took effect on May 7, the day after Carney’s first official meeting as prime minister with President Donald Trump in Washington.
For the food industry and consumers alike, this is welcome news. The “dollar-for-dollar” tariff response that Trudeau championed was always a high-risk strategy against the world’s largest economy. These countermeasures may have fit a political narrative — propping up nationalism under slogans like “elbows up”........
© PNI Atlantic news
