Advertisement
Blogs

Bill Kelly: A tariff war could lead to a recession

With U.S. president Trump attacking Prime Minster Trudeau, Global News caught up with American tourists outside the White House to see how the feud has affected Canada's image.

Economists from Scotiabank crunched some numbers and concluded that the global tariff war between Donald Trump and the rest of the world could send us all into recession if it continues.

Well, thank you for that, Captain Obvious. I think most of us feared that conclusion from the moment President Trump fired the first shot in this war with the punitive steel and aluminum tariffs on Canada and other G7 allies.

Retaliatory tariffs will cost American jobs: Goodale
Retaliatory tariffs will cost American jobs: Goodale

WATCH: Retaliatory tariffs will cost American jobs, Ralph Goodale says

Trump doubled down on his short-sighted and inflammatory policies by slapping significant tariffs on China late last week.

Remarkably, Trump doesn’t understand or doesn’t care that his tariff war will harm American jobs and local economies as well.

Story continues below advertisement

 

READ MORE: Escalating trade war with U.S. could lead to North American recession, Scotiabank says

That’s underscored by Trump’s threat to impose tariffs on the auto sector, which would have devastating effects to auto workers on both sides of the border.

Clearly, Trump doesn’t seek fair trade deals. He craves dominance and submission from American allies.

That tactic might work in Washington, where Trump is emboldened by spineless congressional leaders who allow him to say and do whatever he wants.

‘I don’t support tariffs’: Premier- Designate Doug Ford says when it comes to steel, aluminum and Ontario’s auto sector
‘I don’t support tariffs’: Premier- Designate Doug Ford says when it comes to steel, aluminum and Ontario’s auto sector

WATCH: ‘I don’t support tariffs,’ says premier-designate Doug Ford on steel, aluminum and Ontario’s auto sector

But, on the international stage, G7 members don’t tolerate his bully tactics and they will push back.

It’s regrettable that this tariff and trade war could cause a severe economic downturn, even in America. But, after all, when the Americans chose a megalomaniac like Trump to run their country, what did they think would happen?

Bill Kelly is the host of Bill Kelly Show on Global News Radio 900 CHML.

 

Global News Redesign Global News Redesign
A fresh new look for Global News is here, tell us what you think
Take a Survey

Sponsored Stories