People Mentioned
Partner, International Trade, Toronto
While new U.S. tariffs could result in higher prices for some products, the broader impact to the Canadian economy will be far more substantial and costly to consumers, says Jesse Goldman, partner, Competition, Trade and Foreign Investment, in an interview with Global News.
“The effect of the [section] 338 tariffs is really the effects on certain Canadian businesses and [the] health of those businesses as their export markets are further constrained and narrowed and their economic commercial opportunities in the U.S. diminish as a result of tariffs,” says Jesse. “Their ability to be competitive and productive businesses also serving Canadian consumers diminishes over time.
“That has effects in terms of their employment, their productivity, their ability to invest, their access to capital. For the U.S. tariffs, if we look at the effects on Canadian consumers, it’s really the diminishment of the Canadian economy overall that I think people will notice over a period of time.”
President Trump signed three proclamations last month citing section 338 of the Tariff Act of 1930, with the White House saying in a statement that the move offsets “the burden and disadvantage on U.S. commerce from Canada’s discriminatory treatment of U.S. commerce and is leveling the playing field for crucial American exports — cars, alcohol and dairy.” The tariffs have been delayed by three days in an effort to strike a deal with the Canadian government.
Read the full article by Ariel Rabinovitch posted on August 18, 2026.
People Mentioned
Partner, International Trade, Toronto
