Robert Reich calls Trump’s 50% Canada tariffs irrational

Former Labor Secretary Robert Reich called President Trump’s 50 percent tariffs on Canadian imports irrational, warning that more expensive Canadian wood products could push housing costs higher and affect mortgage rates. The U.S. tariffs took effect Saturday on more than $20 billion of Canadian imports after negotiations failed late Friday. Canada retaliated the next day with tariffs of as much as 50 percent on more than 700 American products, including cheese, steel and aluminum goods, carpets and fish. Reich said the tariffs were damaging to both countries and argued that affordability should be addressed by ending the trade war rather than imposing tariffs or pursuing what he called a war in the Middle East, referring to the Iran war. President Trump accused Canada of being among the worst nations in the world to deal with, while Sen. Susan Collins, R-Maine, called the tariffs a mistake and urged a return to the economically beneficial relationship between the countries.

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Robert Reich calls Trump’s 50% Canada tariffs irrational - CoinPost Terminal