Part 6/13:
Mayor Elmsley expressed concern over the broader state of regional manufacturing, noting that Lindsay's economy has been battered by factory closures over the years. He argued against retaliatory tariffs, suggesting that raising tariffs in response would only increase costs for Canadians, potentially leading to inflation and economic hardship. Instead, he advocates for strategic, measured responses to global trade tensions.
Mark Carney, Canada's former bank governor and a prominent voice on economic stability, has warned about Canada's dependency on foreign markets and the risks of economic nationalism. His concern is that retaliatory measures, while tempting, could ultimately harm Canadian consumers by increasing costs.