Why Trump’s tariffs on Canada could be bad for live music and the price of concert tickets.
Here come the tariffs. The Orange Man seems intent on causing global economic havoc because…why, exactly? And now he’s threatening to do the same to the EU and possibly the UK. Can someone please explain the Smoot-Hawley Act of 1930 which plunged the planet into the Great Depression?
While markets around the world this morning (February 3) fell, the US dollar got stronger, adding more bad news to the countertarrifs applied by us. This is bad news for any Canadians interested in live music.
- Music gear manufactured and sourced from the US will immediately become more expensive
- Visas required for Canadian (and all foreign) bands are already expensive and priced in American dollars. They will cost more.
- The strong US dollar will make it more expensive for Canadian acts to tour in the US. For many mid-level acts, the costs are already prohibitive, cutting them off from the largest music market in the world.
- Big foreign acts booked to play in Canada invariably want to be paid in American dollars. The depressed value of the loonie will force concert ticket prices up.
- If promoters can’t afford to pay in US dollars and agents/promoters won’t negotiate, foreign acts will simply avoid coming to Canada.
We went through this before back in the early 00s and for a time, Canada missed out on a lot of tours. And back then, concert tickets were nowhere near as expensive as they are today.
Bob Geldof appeared at the Canadian premiere of the Live Aid-based musical, Just for One Day (I was there; it’s excellent!) At the end of the show at the Mirvish Theatre in Toronto, he had this to say.
@terihart Sir Bob Geldof telling Trump what all of Canada is thinking! #trumpvscanada #tradewar #Canada ♬ original sound – TeriHart🇨🇦
Buckle up, music fans. This is going to be ugly.