- cross-posted to:
- news@beehaw.org
- cross-posted to:
- news@beehaw.org
cross-posted from: https://lemmy.world/post/24657192
Summary
In a virtual speech at the World Economic Forum, Trump suggested Canada could become a U.S. state to avoid his proposed tariffs on imports.
The remark elicited gasps from the audience.
Trump claimed the U.S. does not need Canadian lumber, energy, or vehicles, vastly overstating the trade deficit between the two nations.
He reiterated his intention to impose tariffs, potentially as high as 25%, on imports from Canada and Mexico starting February 1.
Economists warn such tariffs would raise prices for U.S. consumers.
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Do you think he wanted to do this last time but ousted everyone who told him that’s fucking psychotically stupid?
I personally think this is bravado to negotiate something more realistic, although if he really wanted to it’s unlikely Canada would resist.
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He is preparing a firesale for the super rich…
When Dollar is replaced as the reserve currency, America’s imports will shrink and there may be inflation. But it won’t result it in defaulting on its domestic currency.
Any austerity on the US will be self-inflicted (as it is in the UK and Europe). The unwillingness of the US Government to take over the economy from the parasites will make things much worse.
let’s go comrade trump
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As long as the US dollar has maintained and will maintain its supremacy, regular people suffer all over the world for the comfort of treatlerites in the imperial core.
I’d rather the dollar crash so that the world has a chance.
Nice
Who needs dollars when you have $TRUMP meme coins?
Bitcoin is a form of electronic token, so $TRUMPET
deleted by creator
Now backed by your social security! Thanks Obama
And the last gasp of our conservatives as the final pillar of the whitehouse collapses into a flaming wreck due to Trumps ridiculous toddler-like mismanagement of everything will be to blame it all on the Democrats.
Inshallah
Somehow, even with conservatives owning all the branches of government, it will be the Dem’s fault.
Lol that’s just the narrative they need to fundraise another loss in the 2028 election.
And they’ll even say sorry for it because they consider it “impolite” and “not done” to talk back to the sitting government or some shit.
If Trump is serious about this it will be bipartisan by 2028 just like all the 2016 Trump policies that were bipartisan by 2020
So what are the Dems doing to prevent any of this?
Hard to prevent when you are trying to get in front of the flood of dumb things being put out right now.
deleted by creator
Stop, I can only get so erect.
That’s the point, I think, as well. I could see Putin using the useful idiot to destroy the primary rival to its superiority. The US is incredibly difficult to invade. The intelligence apparatus is too ingrained in all our communication to avoid detection. If you can’t get the rot to start from the outside, go for the inside.
This is peak BlueAnon/Marvel Cinematic Delusion, where Putin is a supervillain with a global mind control network.
Damn these Russians making the US into warmongers. After all, stealing land is a completely foreign concept in America
Alberta will be happy to hear that
He’s about to fuck around and find out…
He is about to fuck around and America is about to find out…
Tap for spoiler
The world doesn’t revolve around America.
Dear Trump:
I mean honestly, he’s just a giant douche canoe that accurately reflects the level of intelligence and emotional maturity that the most of his fucking deplorable Nazi base is. There’s nothing he’s here said that isn’t what his moronic base says on a daily basis and is more or less a accurate representation of America and Americans by large.
America is a nation of idiots.
There is no actual fentanyl or immigration basis for tariffs on Canada. Just submit to less representation than California, and help absorb large US debt with little in return for it.
There’s no basis for tariffs on Mexico either.
Really there is no basis for any tariffs, the richest nation in the world putting tariffs on other nations products because they can’t keep up is embarrassing.
Canada is avoiding Trump’s tariffs by not becoming a state.
They are not paying the tariffs, american people do. So by joining the US they would start paying all the tariffs that Trump is putting on China’s products, European products …
Why do people think that happens? It does not happen. 90% of the tariffs will be absorbed by Canadian companies trying to keep up sales to the US because there’s nowhere else to go, and even if they sell elsewhere, it’ll be discounted that much to other countries because of the general laws of supply and demand.
The only way, and it’s one that we have nothing in place to effect, is to mark prices as of the tariff date and to enact an export tariff for the amount of the sale under the price set point. That would highly discourage discounting sales and pretty much just cut them off since, in the case of products made or produced in the US, it would be competing with local products at 125% of the local price.
No, that’s called “dumping” and is against compliance of WTO rules, which would then allow the importing country to raise more taxes as anti-dumping measures.
This is from a US Gov website explaining what that is
The importer, not the exporter pays tariffs. Aka Canada pays nothing, things made in Canada have an extra tax attached to them when they cross the boarder into the us, paid by Walmart or whomever ordered the goods
Yes, but in the real world, while the importer pays the tariff, they’ve taken a discount on cost from their supplier in order to compete with local goods that aren’t tariffed. That’s why no country wants tariffs applied to their imports. Its almost like governments understand how this works.
Ummm no.
In the real world consumers ultimately end up paying the tariffs.
Domestic suppliers have a tendency to raise prices is response to increased demand and decrease competition from imports.
When Trump implemented a tariff on Washing Machines in 2018 during his first term. The price of imported washing machines went up, the price of domestic washing machines went up, the price of dryers… which weren’t tariffed went up.
Eventually it did led to more washing machines and dryers being manufactured domestically. Which did lead to a small increase manufacturing in jobs. But it was a net loss for the consumers.
Tariffs function as a flat tax on goods. Like all flat taxes this benefits the wealthy and hurts poor and the working class.
Well, when it’s been in place and the Canadian economy is in free fall, you can come here and tell me how wrong I and all the governments were about how this works. I’m sure it’ll go totally different than the softwood lumber tariffs that shut down the forestry industry in BC for a decade.
Here’s the Canadian forest industry take on tariffs. Mostly borne by Canadian producers:
https://forestresources.org/2024/12/19/a-discussion-around-tariffs-on-cdn-lumber/
I’m confused friend.
The article you linked to says:
… Canadian lumber producers would not be able to absorb this, the price of lumber will adjust upwards ….
Is that not, quite literally, a direct contradiction of your earlier statement that:
90% of the tariffs will be absorbed by Canadian companies
And if the price increases, is that not the consumer paying the tariffs?
I’m out of energy for this.
You’re right, we should just ignore it because it’ll only affect the USians. Maybe we lobby them to make it 50% so it punishes them more. It’ll all be perfectly fine here.
Canada is already a state… a SOVEREIGN state.
How about trump can suck my left nut. There, I said it.
Just. You know…
become a state.
Is the US so attractive that countries are lining up to join? 🤔🇺🇸
Come for our healthcare! Stay cause you died.
Me too, thanks.
Canada’s economy is dependent on the US. Trump might actually pull this off.
Edit: More context since people are downvoting. Consider the following now picture yourself one of the greedy capitalists in Canada, which is a preferred outcome? Losing your wealth or losing Canadian sovereignty?
Just because I think it is likely doesn’t mean that I think it’s right. This is clearly wrong.
Canada is also America’s largest trading partner.
America had $357 billion dollars worth of imports from Canada in 2023, if they introduce a 25% tarriff Americans will pay $446 billion instead because it’s not like you’ll get all that stuff anywhere else for cheaper since America is going to put tariffs on practically every other country they trade with apparently.
Corporations spend billions on the current infrastructure and trade routes and logistics, they will not uproot everything and go through the pains of firing everyone then moving to America and retraining because of a short term loss. American administrations are fickle, many of them will simply wait out the 4 years hoping it will return to normal then. If it doesn’t then maybe they might consider it then but for the next 4 years Americans are going to be paying a shitload more for anything that’s not made in America.
American businesses will also find it a lot more difficult to sell their products out of the country when those countries retaliate with tarriffs against them.
Not likely.
Likely doesn’t mean inevitable. I am the pessimistic type, so there’s that. I hope that I am proven wrong.
Canada’s oligarchs like the fact that only Israel and US is allowed to compete with them, and elections are cheaper to buy. A single state makes them lose power. Population understands only negatives from US, and also would not vote for Trump.
Unfortunately for Canadians, they are still programmed to side with US over China and Russia, and that programming makes it a blasphemy to seek independence that would also protect them from the US. As long as Canada’s position is to beg to restore its fully subservient colonial status, then the Trump extortion will continue.
One goal that Musk would have behind this is that it can destroy the big 3 automakers.
