According to CoinMeta, a study by the Oxford Institute for Economics concludes that Canada’s planned retaliatory measures against U.S. tariffs may protect some domestic manufacturers, but they will increase costs and exacerbate the situation for many industries. These counter-tariffs are set to take effect on September 8th and involve an annual trade volume of about C$27.5 billion (equivalent to $19.8 billion). Economists Tony Stilo and Michael Davenport from the Oxford Institute for Economics wrote: “Canada’s new retaliatory tariffs will help some industries, but they will harm most others and will drag down the country’s economic growth by increasing the costs for producers and consumers.” Among the provinces, Ontario and Quebec face the greatest impact due to the concentration of affected manufacturing industries; the Atlantic provinces and British Columbia will also suffer, as rising prices and weakened household purchasing power will dampen their service-based economies.