As tariffs flip-flop, Diodati says a look at the past is important

The Mayor of Niagara Falls, much like many others across Canada, isn’t happy with the idea of tariffs being imposed by US President Donald Trump.

Mayor Jim Diodati adds that it’s not just Canadians that are unhappy with the recent actions by the President.

Diodati adds that similar tariffs from the US to Canada in the 1930s led to The Great Depression, and fears the same will happen this time around.

There’s been more flip-flopping by the US President on tariffs tis week, as Trump says all Canadian and Mexican goods covered under the North American trade agreement will be exempt from tariffs for a month.

According to one early estimate, 62% of Canadian imports will still be subject to tariffs, the majority being energy products, hit with a 10% levy.

Uncertain tariff measures stoked investor anxiety, with Canada’s main stock index and top Wall Street indexes all suffering steep losses.

(Written by: Matt Latour & Loreena Dickson)