Canada's new tariffs on US goods could raise prices for SWFL shoppers

PUNTA GORDA - Canada is hitting back at the United States with a new round of tariffs targeting billions of dollars' worth of American goods.

Starting Sept. 8, Canada will charge tariffs of 15, 25 and 50 percent on about $20 billion worth of American goods. The list includes steel and aluminum products, appliances, clothing, cosmetics, golf equipment and some fishing rods.

Canada says it will match the latest U.S. tariffs dollar for dollar.

When a Canadian company imports an American product, it pays the tariff to its government. An economist WINK News spoke with says those Canadian buyers could raise prices, absorb the cost or buy less from U.S. companies.

FGCU Economics Professor Victor Claar says the back and forth also creates uncertainty for businesses and consumers.

"They front-loaded a lot of purchases. They bought things like appliances, washers and dryers because they couldn't really afford them right then. But they were afraid that the tariffs would drive up the price, and so they acted sooner," Claar said.

Florida Agriculture Commissioner Wilton Simpson says the state will continue promoting Florida-grown and caught products through Fresh from Florida.