1455 ET - The effect of U.S. tariffs is likely to be felt across a spectrum of industries in North America and hit households, the CEO of Allianz Trade in Canada says. David Dienesch tells The WSJ materials Canadians and Americans use in the building sector, including lumber and steel products, will be directly affected. He expects the food industry, which generally has a shorter-cycle supply chain, also will be impacted immediately. And the auto industry looks to be a direct target of the tariffs launched by President Trump, as well potentially cumulative tariffs. "The result of this will be inflationary effects at the grocery aisle on both sides of the border. Higher housing costs, including renovation costs, and higher costs for the purchase of both new and used vehicles are all to be expected." (robb.stewart@wsj.com; @RobbMStewart)
(END) Dow Jones Newswires
March 04, 2025 14:55 ET (19:55 GMT)
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