If Trump does raise tariffs across the board on Canada and Mexico we will have stagflation well within 6 months. There will be nothing the Fed can do to stop it as this is not market driven. There is no way they can even pretend wages can keep up with a sudden artificial 25% price increase.
this post was submitted on 30 Jan 2025
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Canada and Mexico are reportedly at a total loss because they have no idea what Trump even wants. It’s being reported that Trump wants to slap actual tariffs on someone just to show he means business.
As a non-USA person, I was under the impression he thinks it will punish foreign companies and bring jobs back to USA??
So like how does he do this without screwing over 90% of our automotive companies? I thought he was trying to.... Lower
Prices
That's the neat thing, he doesn't!
Musk said there would be temporary pain. Trump is willing to have others suffer to get what he wants.
Except his every policy will make prices higher.
Right. Lower prices are what he says he wants, not what he actually wants. Never forget, nearly everything he says is a lie.
I really hope Canada and Mexico do Free Trade Judo, rather than just counter-tariffs.
If Canada imposes a counter-tariff on American goods, it just makes things more expensive for Canadians. But, USMCA required that Canada and Mexico agree that the big tech companies can't be sued in Canada or Mexico for content appearing on their platforms. Fuck that rule, let the lawsuits fly.
The update to NAFTA also required that Canada and Mexico adopt the ridiculously long US copyright term limits, making it life+70 years instead of life+50. So... go back to the original rules and bring a bunch of copyrighted American content into the public domain.
Mexico was required to adopt the "notice and takedown" bullshit from the DMCA. Fuck that. Mexico can go back to their old system. I don't know what they used, but I'm sure it was better for the end-user than DMCA bullshit, and changing it back would only hurt Hollywood.
Instead of just counter-tariffs, make things cheaper and better for Canadian and Mexican citizens. In particular, fuck American copyrights. It's ridiculous that Canada and Mexico were forced to bend over backwards for the benefit of Disney and friends. If the US wants its neighbors to respect its IP, then it needs to respect the free trade agreement that Trump fought for and signed.
This is exactly what we need to be looking at, that and patents, DMCA.
I also hope we latch on to EU directives and force companies to have proper GDPR like requests
Fuck this guy
Neat the power to the us gets shut off 6 hrs after the announcement 🤣
Guys I hope people haven't forgotten that the trump admin changed NAFTA when they were in previous term.
We are in this "unfair slump" because they can't even do a deal right.
WTF was it, something something art of the deal or something?
He will tank the US just like he tanked all his businesses.
Trump warns that he's going to tank the US economy On Saturday
And Canada's and we didn't even get a chance to vote against this guy
“Look, Mexico and Canada have never been good to us on trade,” he continued. “They’ve treated us very unfairly on trade, and we will be able to make that up very quickly because we don’t need the products that they have.”
Hahahahaha...oh god, comedy heaven!
...Wait, what do you mean this is not the onion?
The U.S. imports 60% of its oil from Canada.
The United States is one of the world’s largest oil producers, producing enough crude oil for domestic consumption and exporting millions of barrels daily. In 2023, it exported just over 10 million barrels per day, or b/d, of petroleum to 173 countries and three US territories.
Yet, the US also imports roughly 8 million b/d, mostly heavy crude,60% of which comes from Canada, up from 33% in 2013. US oil refining capacity stood at 18.4 million barrels per day (b/d) as of Jan. 1, 2024. This may seem counterintuitive, but there are several reasons why the US still relies on imports.
That says that 60% of the oil the USA imports comes from Camada, not that the USA imports 60% of its oil from Canada.
Sorry... what's the difference? Both are about how much of the oil the U.S. imports comes from Canada.
Maybe I'm not reading it the way others would. I would have understood "The US imports 60% of its oil from Canada" to mean that 60% of the oil the USA consumes comes from Canada, not 60% of the oil the USA imports.
I lost track isn't Canada a reliable exporter of medical isotopes too?
Edit hmm seems the us imports alot of those https://healthimaging.com/topics/medical-imaging/molecular-imaging/why-us-still-dependent-foreign-medical-isotope-production
Those Biden "I did that" sticker on gas pumps are gonna look a hell of a lot different in hindsight.
Couldn't have picked a better week to switch to an electric car.
Bad news. Cost of petroleum increasing probably increases the cost of electricity too. Energy is energy. If cost of one source of energy increases then other sources also increase price.
It probably won't be as bad as gas prices, but it's probably all going up.
They also import a shitload of electricity.
And pretty much anything made out of a tree.
Lots of metals as well, TD has an analysis if interested.
Canada and Mexico are the 2 largest trading partners. Cusma review is next year, didn't he do the exact same thing going into the NAFTA 2.0 negotiations? Just wish we'd do a united front with Mexico on this.
Tariffs on oil and microchips, should make a nice dent in cost of living.
"We don't need the products that they have but we might not tax oil coming from Canada... Because... We... Eeeh... Don't need it?"
Someone should tell the talking Cheeto that we are a net exporter on oil and the majority we import is from Canada and Mexico. You know, the whole thing of there being different types of oil and the refineries in the US are set to refine foreign oil and not our own oil.
"Who knew oil was so complicated?"
Anytime he finds something out, "nobody knew". Anytime he finds out he went too far, "no one knew it was this complicated".
I assume this is referring to his "Who knew healthcare could be complicated" comment 8 years ago that we have yet to hear his plan for after promising one in two weeks
He said it pretty often in his first term. The commenter you replied to has it right. "Nobody knew..." translates directly to "I just found out"
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Elected by people to lower groceries
Increases groceries
Then remove tariff and claim he lowered it.
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Then do it bitch, I don't care.
My job will literally not be affected and all the American companies we work with will just skirt the law to avoid tariffs because America or they will pay them.
Ain't no one taking down the true north strong and free 🇨🇦🇨🇦🇨🇦
Same here. Personally, I'm also going to buy as little from the US as I can for the next while. Same as last time.
As an American, I support the effort Canada and Mexico will do to fight back.
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