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There is no reason to panic-buy, but Canadians who are already planning a major purchase may want to keep an eye on several product categories before Canada’s new retaliatory tariffs take effect Sept. 8.
Prime Minister Mark Carney says Canada’s retaliatory tariffs will be concentrated in sectors including steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics. A detailed list of affected products has not yet been released.
Products to watch include:
Major appliances: Refrigerators, freezers, washers, dryers, dishwashers and ranges could be affected if U.S.-made models are included on the final tariff list.
Electronics: Televisions, computers and other U.S.-made electronics could face higher prices depending on which products are ultimately targeted.
Agricultural equipment: U.S.-made farm machinery, implements and possibly some parts could become more expensive if they are included in the tariff measures.
Steel and steel-related goods: U.S. steel products and some steel-dependent goods could see higher costs, depending on the final list released by Ottawa.
Pulp and paper products: Some U.S.-made paper, packaging and related products could be affected by the new tariffs.
U.S. dairy products: Some imported dairy goods could cost more if they are included in Ottawa’s final tariff list.
Based on the sectors announced so far, Canadians should not expect an immediate across-the-board increase in prices for everyday groceries such as Canadian milk, bread, meat or vegetables on Sept. 8.
Food prices could be affected over time if farmers, processors and manufacturers face higher costs for equipment, packaging, machinery or other business inputs.
The federal government is expected to release a detailed list of affected products before the tariffs take effect.
