Americans and Canadians both lose in escalating trade wars
The 50% tariffs President Donald Trump announced 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 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 before talks broke down at the 11th hour. Neither Trump nor Canadian Prime Minister Mark Carney wants to look as if he’s succumbing to bullying from the other, so the escalation has been predictable. Early Aug. 22, ...