Cindy Baldassi’s stone-and-glass jewellery business depends on American consumers. Approximately 75% of her Calgary, Alberta-based company, CindyLouWho2, sells items like amethyst, sea glass, and agates to Americans. However, business owners on both sides of the border are preparing for the consequences after trade negotiations between the US and Canada broke down over the weekend and leaders of both nations promised to impose 50% tariffs on each other’s goods.
Baldassi claims that in order to survive, she will have to raise the prices of the majority of her products by 50% because most of them are subject to the new tariffs imposed by US President Donald Trump.It will probably eliminate the majority of my sales in the United States,” Baldassi said to the BBC. “I expect that at least half of my business will be gone.”
Mark Carney, the prime minister of Canada, promised to impose taxes on US steel, dairy, appliances, and electronics beginning on September 8. Trump’s tariffs on Canadian wine, dairy, cement, apparel, and hockey equipment come into force on Saturday. Since Canada has been somewhat accustomed to the on-again-off-again trade war, it is unclear how much more severe the effects will be there.
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