Reminder that Canadian oil has to flow through the US, to reach the eastern parts of their country.
You mean the stock market doesn't like these tariffs.The market is taking a beating. The economy does NOT like these tarrifs.
The market is taking a beating. The economy does NOT like these tarrifs.
“I told them that’s it, this is a short-term deal,” the president said, adding he told auto executives not to come back and ask for relief again.
Your right, it is heavy handed. Slapping tariffs on everything is just a tax increase.So right off the bat, automobiles and parts were given exemptions because the automakers were caught totally off guard.
Trump also signed an executive order yesterday giving a 1 month exemptions to all USMCA compliant goods coming over the border, which applies to 50% of Mexican imports and 38% of Canadian imports.
I'm pro Trump, and not anti tariff, but this initial strategy is ungraceful and heavy handed, and the timing is terrible. The economy is already on extremely shakey legs and people want to see relatively quick improvement from the mess Biden left behind, not a trade war and recession, which almost everyone thinks is going to happen now.
Many or most of the goods in question can be made in the US. It just takes time to set up production and establish new supply chains. The ones screaming are the ones who can't instantly change suppliers. I'd say a brief pause should be all that's given, to ease the change over, still make sure they do change over.Your right, it is heavy handed. Slapping tariffs on everything is just a tax increase.
Selective tariffs to preserve certain industries, like the steel industry, make sense. Tariffs on goods that can't be produced in the United States don't make any sense.
Press Secretary Karoline Leavitt shuts down sassy Associated Press reporter before telling him she regrets letting him ask a question.
Reporter: "I'm sorry. Have you ever paid a tariff? Because I have..."
Leavitt: "I think it's insulting that you're trying to test my knowledge of economics and the decisions that this president has made."
"I now regret giving a question to the Associated Press."
In the long run maybe but in the short run even consumers lose from tariffs. Consumers pay higher prices immediately but it takes years for the manufacturing and the jobs to be brought back to the USA. Will consumers be better off in 5 years time, quite possibly but they certainly won't be better off in 3 years time. Plus modern supply chains are very complex. There are a lot of intermediate parts which go into p[producing American manufactured goods so even to produce goods locally in the USA could become more expensive as well.Tarrifs are bad for the rich and good for the working poor. That's why Trump wins record votes yet the hysterical screaming and crying from the (((media))) never stops.
It’s mildly amusing to observe the media trying to cry about how US tariffs are bad while simultaneously refusing to acknowledge the fact that they are a response to Canadian tariffs on US products that have long been in place.
Here's another post on tariffs from Vox Day:
Canada Folds - Vox Popoli
Sanity prevailed, as someone appears to have explained the tariff math to the Premier of Ontario: Canada folded to President Donald Trump after he vowed the nation would pay a historically big ‘financial price’ for the electricity tariff it imposed on the United States. Hours later, Ontario...voxday.net
His contends that Canada cannot win a trade war based on tariffs with the US, because of (if I understood correctly) the trade deficit with Canada. This is the exact opposite of what I hear from enraged normie Canadian TDS sufferers online. The latter are sure that Canada can crush the US in a trade war because, apparently, we import something like half of our raw materials from Canada and they can just sell them to China instead.
Who knew. Although one gloating Canadian quoted a figure of 20 billion USD and 200k jobs the trade war has supposedly already cost the US as evidence of our impending collapse. This made my poorly educated American brain suspect that in spite of surely having read more books than I have, Canadians in general don't understand the difference in sheer size between the US and Canada when you count anything but uninhabitable Arctic wasteland.
Another interesting point Vox makes is that because the Trump tariffs are in response to unfair foreign tariffs that were already in place, Japan and the UK have responded in the best way possible by not responding. That, and that this is all designed to bring manufacturing back to the US to put us on a war footing in way that would be impossible now with most of our manufacturing happening overseas.