Waking up as a Canadian this morning feels pretty much the same as it did yesterday. The sun still rose and that first cup of coffee tastes just as good.
The difference, of course, is that we’re all a little poorer.
Regardless of whether the U.S. moved forward today with steep tariffs on Canadian imports as threatened or whether they are applied tomorrow or in the future, the Canadian economy is already suffering from crippling tariff fatigue.
In some ways, the uncertainty surrounding the U.S. government’s next move is worse than any financial pain it inflicts on Canadian industry and American consumers. It’s already forcing the hand of companies in Canada’s food and beverage processing sector.
News reports surfaced this week about Canadian-born food companies whose growth depends on expanding sales into the U.S. market. They are now planning to move operations south of the border. That would take jobs and all associated economic activity with them — which is exactly what the U.S. wants.
Barring a concerted and strategic effort on the part of our federal and provincial governments, industry and consumers, the future of our food sector — Canada’s largest manufacturing sector and one pivotal to national security — is about to be kidnapped.
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