A study was done on washing machine prices during tariffs of the previous Trump administration. Rather than undercutting foreign goods on price, local manufacturing raised their prices to absorb extra profit. As a kicker, the price of dryers also went up even though they were not subject to tariffs.
The US and Canadian economies have become deeply intermingled over generations. Many materials cross the border multiple times on the way to becoming finished goods and will be subject to tariff each time. There will be 2nd, 3rd, and 4th order effects for a long time even if these tariffs go away quickly, not to mention the poisoning of the closest relationship between nations the world has ever seen.
My fellow Canadians are horrified and enraged at the tariffs that amount to economic warfare and the continuous violations of our sovereignty. I have never seen the whole country this united on anything before. Canadians are furious and every grocery store has American produce rotting on shelves. We will not forgive and forget quickly.