VIDEO Canadians are facing a difficult push-and-pull between supporting the country through its trade war with the United States and facing the drawbacks of an economic downturn.
Three quarters of them support the federal government’s decision to push back on U.S. tariffs, but 68 per cent call the increased risk of job loss as part of its measures unacceptable, according to a survey by Build Canada .
Meanwhile, 60 per cent also reject higher taxes of $500 or more and 69 per cent reject retirement losses of at least five per cent as part of the country’s pushback.
These results expose the tension between supporting the government’s efforts and addressing the potential consequences of doing so.
“‘Elbows up’ is not a blank cheque,” Build Canada chief executive Lucy Hargreaves said in a news release. “Political leaders should not confuse broad support for holding firm with consent to endure personal losses. These results show that Canadians favour a firm negotiating position while rejecting what it could mean for their jobs, taxes and savings.”
When it comes to higher costs, 40 per cent of Canadians are willing to endure the pain for “as long as it takes,” compared to 28 per cent who are not willing to accept any pain.
Still, many are already making the sacrifices to support their country’s economy, with 69 per cent routinely choosing Canadian products even if they are more expensive.
This comes as Canada is embroiled in an escalating trade war with the U.S., with Ottawa hiking tariffs earlier this week on motorcycles, cosmetics and cheese, among other products.
Prime Minister Mark Carney said he doesn’t believe in escalating Canada’s trade war with the U.S., but that it was a necessary retaliation.
These measures, however, mean Canadians should brace for turbulent times ahead, Carney said in a video on Tuesday .
VIDEO “This won’t be easy, and I won’t pretend otherwise,” he said. “But Canadians have faced difficult stretches before, and what’s carried us through has never ever been just one measure.”
In response to Canada’s latest measures, U.S. President Donald Trump has moved to ban several products, including whey proteins, certain rye whiskies, malt beer and motorcycles, while also banning Canadian companies from U.S. government contracts.
With files from Bloomberg News
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New Apple Inc. chief executive John Ternus is under pressure to deliver its next iPhone as the tech giant is in the midst of a US$570 billion summer rally.
The stock has climbed 15 per cent since June 25, but the stock has fallen on five of the past eight days after major product announcements, which came on Wednesday with the unveil of the iPhone 18 Pro and iPhone 18 Pro Max.
Still Apple remains the second best performer of the Magnificent Seven stocks.
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Today’s Posthaste was written by Ben Cousins with additional reporting from Financial Post staff and Bloomberg.
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