KABUL: The renewed trade tensions between the United States and Canada are raising concerns that consumers and businesses in both countries could face increased economic pressure.
The U.S. government has imposed 50% tariffs on around $20 billion worth of Canadian goods.
Canada, meanwhile, has announced retaliatory tariffs in response to the U.S. measures, which are scheduled to take effect on September 8.
The New York Times, citing economic analysts, reported that prolonged tariffs could increase the cost of imported goods, place additional pressure on businesses, and create greater difficulties for consumers already struggling with high prices.
Economists warn that ongoing trade tensions between the two neighboring countries could further disrupt supply chains and exacerbate inflationary pressures on both sides of the border.