Former Labor secretary calls Trump's Canada tariffs 'irrational'

Former Labor Secretary Robert Reich criticized President Trump’s proposed 50% tariffs on Canadian imports as economically damaging, warning they would drive up costs—especially for housing—due to higher prices for Canadian wood products. In an interview with CNBC’s Squawk Box, Reich argued the trade measures risk escalating a broader trade war, potentially harming consumers and industries reliant on cross-border supply chains. The move comes amid ongoing tensions over steel and aluminum tariffs, raising concerns about retaliatory actions from Canada. Economists and industry groups have previously expressed fears that such tariffs could trigger inflationary pressures and disrupt key sectors.

Former Labor Secretary Robert Reich on Wednesday called President Trump's 50 percent tariffs on Canadian imports "irrational." Reich warned in an interview with "Squawk Box" co-host Andrew Ross Sorkin on CNBC that prices would rise, particularly for housing, as a result of the trade war. "And as Canadian wood products become even more expensive, you're...