Canada tariff threat raises price concerns for Michigan shoppers and businesses

A developing trade dispute with Canada could raise costs for businesses and consumers in Michigan and other states, as Canada weighs retaliatory tariffs on automobiles, dairy, appliances, steel and other U.S. goods.

Canada announced plans for tariffs beginning Sept. 8 on $27.6 billion worth of American products, matching recent U.S. duties on Canadian goods. Businesses and importers pay the tariffs, while economists warn higher costs can affect investment and consumer prices.

The Yale Budget Lab estimated the current U.S. tariff schedule, including the latest Canadian duties that took effect Aug. 22, would add about $1,100 a year to household costs. Its comparison found the newest duties alone raised estimated annual costs by roughly $27 to $33.

Read the full story at miamitimesonline.com.