CHARLESTON, S.C. — Canada is imposing $20 billion in counter-tariffs on more than 700 U.S. goods in response to weekend U.S. tariffs, including a 50% tax on construction essentials such as steel, wood and aluminum.
Trade war escalates
For decades, an open trade border with Canada has existed.
“That’s built up the supply chain that essentially means those products have flowed back and forth,” Adrian Cain, CEO of the Lowcountry Home Builders Association, said.
“You have a trade war when one country imposes a tariff, and then the other one retaliates by imposing a counter-tariff,” said Frank Hefner, professor of economics at the College of Charleston…