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US tariffs on Canada bolster Canadians' support for domestic products, films: experts

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US tariffs on Canada bolster Canadians' support for domestic products, films: experts

2025-04-18 17:45 Last Updated At:18:17

U.S. President Donald Trump's tariffs on Canadian goods have been backfired by a surge in national pride among Canadians, with many looking for domestic alternatives to boycott U.S. goods, according to experts.

Canada has long relied on the United States, its largest trading partner, for a wide range of products. However, the recent wave of tariffs from the U.S. is pushing many Canadians to turn to local sources instead.

"For many reasons, including it will be more expensive (to buy U.S. products). Folks will be looking for more Canadian alternatives just across the board. That is absolutely true for everybody," said Sonya William, director of the Network of Independent Canadian Exhibitors.

The trade dispute has also led many Canadians to choose Canadian films over Hollywood productions, according to William.

"A really important thing to remember about film is that film is art. Film is culture. Film is about representing yourselves, telling stories that people around you relate to. People understand more than ever maybe like how important it is to watch Canadian film, to hear Canadian stories and to come together physically and to really have these important conversations about what it means to be Canadian," she said.

Canadians' increased preference for domestic films could significantly impact the U.S. film industry, which has already faced various economic challenges in recent years, including a slow recovery from the COVID-19 pandemic, two labor strikes, and the recent devastating fires in Los Angeles.

The introduction of tariffs, combined with an overall increase in the cost of living, could further depress theater ticket sales in the U.S., according to Edward Saxon, an Oscar winner and Endowed Chair of the Peter Stark Producing Program at University of Southern California.

"The theatrical experience in much of the country hasn't kept up with what's happened in shopping. So there are storm clouds all over the place with the cost of living being a major one," he said.

US tariffs on Canada bolster Canadians' support for domestic products, films: experts

US tariffs on Canada bolster Canadians' support for domestic products, films: experts

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 20 pips to 7.0108 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese yuan strengthens to 7.0108 against USD Monday

Chinese yuan strengthens to 7.0108 against USD Monday

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