When could prices start dropping as Canada axes U.S. counter-tariffs?

With most grocery products being perishable and harder to stock, experts say the first place Canadians can see prices come down will be in the produce aisle.

With most of Canada’s retaliatory tariffs on goods from the United States set to be removed on Sept. 1, many Canadians may be hoping for some relief on prices that went up as a result of the measures.

But experts are cautioning that the impact may not be instant.

“It’s certainly welcome news. For us, the retailers and the retail industry, and by extension, the Canadian consumer who’s been seeing the cost of this tariff war over the last few months,” said Matt Poirier, vice-president of the Retail Council of Canada.

In theory, removing counter-tariffs should mean that prices that increased due to tariffs will begin to climb down, he said.

“The question is, how long will that take? It’s complicated, and it’s going to depend on the good itself,” Poirier said.

How soon a product comes down in price — and whether it will at all — depends on several factors.

“If they (retailers) had to buy goods during the tariff period at a higher price, then they’re going to have to pass that through until they can start buying those goods again at the lower price,” he said.

With most grocery products being perishable and harder to stock, experts say the first place Canadians can see prices come down could be in the produce aisle.