The Canadian counter-tariffs, declared in response to the American prices imposed by Washington on exports, have already had the effect of adding in just two months (April and May) the equivalent of 1.51 billion (G $) new taxes for Canadians.
This is in any case what the Montreal Economic Institute (IEDM) supports, which, on the basis of the Ministry of Finance, points out that tariff income increased by 179.8% compared to the previous year. This represents a tax increase of $ 91.50 per Canadian household for April and May alone.
A disguised tax
“The customs tariffs, whether applied unilaterally or in retaliation, are only a tax under another name and do just as bad for Canadian families,” explains Emmanuelle B. Faubert, an economist at the IEDM. They artificially inflate the cost of goods imported into Canada, and it is households and companies that end up paying the note. ”
IEDM maintains that if the trend is maintained, Canadians can expect to pay $ 9.1 billion in counter-tale this year. This would represent an increase in the tax burden of $ 548.97 per household by the end of the federal budgetary year on March 31, 2026.
“We should not imitate the Americans in their protectionist hints,” says Mr.me FAUBER. If we want to strengthen our economy, stimulate investment, advance the standard of living of our fellow citizens, we must bring down the barriers rather than erect news. ”