TRUMP HITS CANADA WITH 20% LUMBER TARIFF! Trade Wars Ahead!
269 views · Published 26 April 2017 · 4:57 · Indexed 6 November 2026
Channel: Mike Martins · 2017 · News & Politics
"This is like robbing Peter to pay back Paul. And Peter's Paul's brother. What's the point?" — Mike Martins Donald Trump has announced a 20% tariff on Canadian softwood lumber, and this could be the beginning of a major trade war between Canada and the United States! Welcome back to the Mike Martins Channel. Today we're discussing TRUMP HITS CANADA WITH 20% LUMBER TARIFF! | Trade War and what this means for Canadian workers, American homebuyers, and the future of our economies. Here in Merritt, British Columbia, the lumber industry is a major part of our local economy. I've spoken with people working in the industry who tell me much of their lumber is already being exported to China. But what happens to Canadian communities that depend heavily on American buyers? According to the reports, the proposed duties affect approximately $5 billion worth of Canadian softwood lumber exports, with many producers facing duties near 20%. And here's the problem: Americans could end up paying more to build their own homes! The National Association of Home Builders warns that even a $1,000 increase in new-home prices could push more than 150,000 American households out of the market. I'm all for protecting your country's economy. I understand Trump's America First approach. But Canada and the United States are neighbours, trading partners, and economically interconnected. Why punish Canadian lumber producers if American families end up paying the price? Could Canada retaliate with tariffs of its own? Could this escalate into a much bigger trade dispute? I'm calling this a double-edged sword! Leave your comments below. Is Trump making the right decision, or is this going to hurt both countries? Mike Martins Channel — bringing you the economic stories that affect everyday working people. #trumptariffs #canadausa #softwood #canadianeconomy #tradewar #britishcolumbia #housingcrisis #merritt #mikemartins
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