Trump doubles down on Canadian tariffs as businesses struggle

The Fed paints a picture of broken supply chains and damaged trades as a result of the Canada tariffs. But as Tonya J. Powers reports, President Donald Trump says those tariffs aren't going anywhere. Tariffs and the trade war with Canada are hurting business on both sides of the border. That's according to a new report from the Federal Reserve. In its beige book, the Fed writes, quote, Tariffs were raising input costs, disrupting supply chains, and damaging cross-border trade. with increasing prices and economic uncertainty making it difficult for businesses to plan ahead. We don't know where this is all going to wash out. The last time he was in office, the trade war with China cost us our market in China. Canada has it now. Democrats are making the tariff war a major issue on the campaign trail, saying it's contributing to what they call an affordability crisis. The Georgians I'm talking to are being crushed by these tariffs. Farmers are struggling. But President Trump is doubling down, accusing Canada of, quote, ripping off the U.S. for years and claiming the tariffs are not hurting American businesses. They're not ripping us off. We don't need Canada for anything. You know, they do 95 percent of their business with us. We do very little with them. And the tariff pressure could be causing a political rift in Canada. The oil-rich province of Alberta is preparing to vote on a referendum that would put it on a path toward independence. There couldn't be a worse time for this referendum. It's a dangerous and divided world. And it's time for us to come together and stand up for ourselves and to take care of each other. Voting in Alberta's independence referendum is now underway. It's scheduled to end on Monday.