Trump's tariffs on Canada threaten to worsen cost-of-living crisis

In the U.S., President Donald Trump announced a 50% tariff on Canadian goods, including autos and steel. This decision follows the collapse of trade negotiations between the two countries, raising concerns among economists and lawmakers. Peter Schiff warned that these tariffs would significantly increase prices for American consumers, worsening the ongoing cost-of-living crisis. Democratic leaders criticized the tariffs, arguing they could lead to job losses and retaliatory measures from Canada, further straining economic relations.