Trump threatens tariffs on Canadian imports as dollar drops

U.S. president-elect Donald Trump has threatened to impose tariffs on goods imported from Canada and Mexico starting on his first day in office. This could lead to higher prices for Canadians, especially for imported items like groceries and vehicles. The Canadian dollar has already dropped in value following Trump's tariff announcement, which could further increase costs for consumers. Economists warn that if tariffs are implemented, prices for vehicles and major appliances may rise significantly due to disrupted supply chains. Experts advise against stockpiling everyday items in anticipation of price hikes, as the actual impact of the tariffs remains uncertain. They suggest that while some prices may increase, essential goods will still be available for purchase.