Economists: If Canada retaliates against Trump's tariffs, it may "hurt the enemy a thousand, but damage itself eight hundred."

On January 11th, Jin10 Data reported that economists warned that Canada's plan to retaliate against the United States poses risks to the domestic economy as President-elect Trump threatens to impose a 25% tariff on Canada. Avery Shenfeld, Chief Economist of Capital Markets at Canadian Imperial Bank of Commerce, stated that Canada will "hit U.S. exporters by harming consumers or businesses that use American inputs." Doug Porter, Chief Economist of Capital Markets at Bank of Montreal, pointed out that while retaliatory tariffs are a measure of last resort, they could exacerbate the economic downturn triggered by tariffs