The election of Donald Trump to the White House, which had the effect of a bomb on the international political scene, will cause turmoil even in your grocery cart if the president-elect decides to go move forward with his promises.
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The 10% increase in tariffs that Mr. Trump wants to impose on Canadian products could be partly absorbed by Canadian companies, believes the president and CEO of the Conseil de la transformation agricole du Québec, Sylvie Cloutier.
“Of course, in the short term, the 10% will be reflected in the price of products in the United States. However, there could be requests from American distributors or importers for companies here to assume a certain part so as not to increase product prices too significantly and create inflation,” he said. -she illustrated in an interview with LCN.
Similar tariffs could be imposed on American products by Ottawa as retaliation, she said.
“That would mean that products entering Canada from the United States, obviously, would end up with a 10% tariff. So, one way or the other, we are not a winner,” added the expert.
Not just in grocery stores
American products represent approximately 30 to 35% of hardware store merchandise in Quebec, according to the president and CEO of the Quebec Hardware and Construction Materials Association, Richard Darveau.
Donald Trump’s desire to prioritize the sale of American products in the United States therefore risks impacting the offering in stores.
“Americans, in all the hardware stores there, will need to find products. They will have fewer Chinese products, they will perhaps have fewer Canadian products because they will also be subject to tariffs. They will have to fall back on American products,” he explained.
This lack would be particularly glaring for electrical tools.
“We don’t make them in Canada. They come mainly from the United States. So, these tools, American consumers and entrepreneurs, especially if they are deprived of Chinese ranges, they will all take them for their own needs. We may not have any,” he said.
Watch the full interview in the video above.
