How will counter-tariffs impact Canadians? Here's the potential cost

Experts predict that Carney's retaliatory tariffs on U.S. goods will have a different effect to those imposed in March last year

In a video address on Tuesday, Prime Minister Mark Carney warned that the ongoing trade conflict with the U.S. “will come at a cost” — but he didn’t say how much.

Subscribe now to read the latest news in your city and across Canada.

Create an account or sign in to continue with your reading experience.

He made the comments the same day that Canadian counter-tariffs on $28 billion worth of U.S. imports came into effect, with the new levies of between 15 and 50 per cent impacting a long list of U.S.-made products from toilet paper and cutlery to motorcycles and refrigerators.

These tariffs are a response to U.S. President Donald Trump’s 50 per cent tariff on $28 billion worth of Canadian goods imposed on Aug. 22, after trade talks between Canada and the U.S. broke down last month.

Conservative Leader Pierre Poilievre called on the prime minister on Tuesday to share what the impact of the counter-tariffs on Canadian consumers would be, saying in a video shared to social media: “Every single mother, small business owner, and senior should know what they will pay in these new counter-tariffs.”

Here’s what economic experts are saying about the potential cost.