Worried about layoffs and retirement? Steps you can take during a trade war – National [Video]

As tariffs rise and trade tensions escalate, many Canadians may be nervous about how their finances, job security and retirement plans could be affected by economic uncertainty.

From potential layoffs to rising consumer prices and volatile markets, the impact of the trade war triggered by the U.S. on Tuesday could ripple through the economy in unexpected ways.

“This is going to be tough. The American trade war is going to hurt the Canadian economy, and it’s going to hurt all of us,” Prime Minister Justin Trudeau said while speaking to reporters on Tuesday.

“Over the past month, we have been working on measures that if these tariffs last longer than a few hours or a few days, we will be able to help Canadian citizens, Canadian workers, Canadian companies, make it through this time.”

U.S. President Donald Trump’s 25 per cent tariffs on imports from Mexico and Canada took …