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Canada will match US tariffs 'dollar for dollar' as trade talks break down

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Re: Canada will match US tariffs 'dollar for dollar' as trade talks break down

#631

Post by jmyeet »

Spooky23 wrote: post #603
cdrnsf wrote: post #586

Everything the current US administration has done has been an unmitigated disaster. Tariffs are taxes. Manufacturing is still declining, not returning and a man who could not run casinos successfully is not going to change that. His economic and foreign policy are dictated entirely based on who flatters him the most. Add to that continued environmental damage, domestic policy dictated by a regressive religious minori…

[flagged]

I really don't want people to be left with the impresion that this is Democratic Party incompetence. It is not. They are complicit in pretty much everything the Trump administration has been doing. They know what works. Just do what Obama did in 2008 and run on a populist economic platform. They don't want to do that. It's a choice, not incompetence.

If Chuck Schumer is asked about the weather, he'll first check with Netanyahu.

Just look at what Senatorial campaigns Schumer supports and doesn't. There's a lot of suspicion that Schumer (and the DSCC) is going to leave Abdul El-Sayed out to dry because he's anti-Israel, basically. Mandela Barnes got similar treatment in 2022. And yet you have blockbuster challenges like Jaime Harrison's, which spent $130M to oust Lindsey Graham. He lost by 10. Trump won by 12 so I guess he gained 2? Well done, everybody, the system works.

Oh and what did the DNC do with Jaime Harrison after he spent $130M to lose by 10? They made him the DNC Chair. The Democratic Party loves a loser. Just like Howard Dean.

Re: Canada will match US tariffs 'dollar for dollar' as trade talks break down

#632

Post by mytailorisrich »

Fordec wrote: post #588
mytailorisrich wrote: post #65

Earlier quoted context omitted.

If Europe does't buy gas from Russia then that leaves Qatar and the US. Qatar does sell a lot to Europe (hence you'll notice how "friendly" Europe is towards Qatar) but is vulnerable to instability in the straight of Ormuz. The US are making a fortune on gas at the expense of Europe an it's not that the promise to buy gas is meaningless because unenforceable within Europe, it's that it was already happening in practi…

Norway, the North Sea via the UK and Algeria are right there as ready suppliers. All of which today supply more than Qatar. https://www.consilium.europa.eu/en/infographics/where-does-t... Not to mention current EU stated goals is to reduce consumption by 50% by 2030. Which is coincidentally pretty US and Russia imports combined sized, and timed pretty well with the expiration date of the EU/US trade deal.

Good graph that shows how imports from the US have exploded since Russia invaded Ukraine...

The UK is the same as the rest of Europe. They don't leverage their gas reserves and have a shambolic renewables and nuclear strategy (or lack thereof...)

Re: Canada will match US tariffs 'dollar for dollar' as trade talks break down

#633

Post by lowbloodsugar »

toomuchtodo wrote: post #417
hunglee2 wrote: post #413

The world should've collectively recognised what Liberation Day was and responded together, in lock step, and in kind. Instead, the Europeans caved, Japanese caved (PM resigned after doing so), Republic of Korea caved (PM resigned after doing so), India of course caved and so on, shattering any prospect of collective action which might pull the rogue hegemon back into line. Now, the US is simply able to renege or ren…

They still can of course, all they need to do is collectively start selling off their US treasuries. The US is at a highly vulnerable and precarious point with their potential bond market debt spiral situation, and this is a point of leverage that can be exploited to encourage improved behavior from a bully. This capital can then be reallocated into domestic investment to continue to decouple from the US. Very simila…

Japan did start selling off US treasuries because the yen is fucked. They stopped when the US agreed to buy yen and sell euros. If China starts selling treasuries, US is fucked. But it’s in China’s interest to have this incompetent in power.

Re: Canada will match US tariffs 'dollar for dollar' as trade talks break down

#635

Post by 8note »

fifilura wrote: post #492
dzonga wrote: post #480

Earlier quoted context omitted.

they carved because most of those places want access to the 'yuuuge' US market. politics vs reality. they could correct though by selling US treasuries - but that would make the world economy sneeze which might result in pneumonia.

The parent point is that the response should have been done collectively. USA market is "yuuge", but rest-of-the-world market is much much bigger.

the market is bigger but doesnt necessarily have more USD to sownd on stuff

Re: Canada will match US tariffs 'dollar for dollar' as trade talks break down

#636

Post by 8note »

goatlover wrote: post #619
p91paul wrote: post #582

Earlier quoted context omitted.

What I fear is Trump didn't break any promise done to their electors by starting this trade wars (he did when he failed to stop actual military wars and started more instead, but that's a different point). He was elected by stating that America was the greatest country in the world and that the others were freeriding on US wealth. I'm not sure his successor can entirely overturn this policy, if a majority of the US v…

A majority don't believe. A plurality voted for Trump in 2024 because of inflation and Biden not leaving Harris enough time to run a proper campaign. It's only the MAGA voters who don't understand how global trade is good for the US economy. But Trump's even losing some of their support with how badly the administration is running things for anyone but the very wealthy.

i dont think you can really move the blame from voters wanting trump's policies onto biden.

trump won the primary and then the election

republicans who didnt want his policies and could see that the inflation was in a large part the result of trump's handling of covid would have put somebody else up for president

Re: Canada will match US tariffs 'dollar for dollar' as trade talks break down

#637

Post by juiceland »

lowbloodsugar wrote: post #626
Animats wrote: post #607

Earlier quoted context omitted.

That's happening. The rest of the world is moving away from the US as a trading partner. Trump is just too flaky to deal with. Canada now exports oil to China instead of the US, for example. The EU is moving towards self-sufficiency in financial services. What the Trump Administration does not get is that the US is no longer central to the world economy. Everyone else has a lot more productive capacity now. Trump is…

The US is desperately selling currency so it can buy the Yen so that Japan doesn’t ditch its US treasuries.

Investing in your customer so they buy your product seems to be the signature move as of late.

Re: Canada will match US tariffs 'dollar for dollar' as trade talks break down

#638

Post by brimwats »

christkv wrote: post #634

Looking past the political posturing i cannot even find any objective information about what the terms were. I just wish they could say what was the state of the deal and why it broke down in some detail.

They wanted to prevent Canada from signing any trade deals with anyone else (i.e. giving US a veto over deals)

Re: Canada will match US tariffs 'dollar for dollar' as trade talks break down

#639

Post by kube-system »

goatlover wrote: post #606
cdrnsf wrote: post #586

Everything the current US administration has done has been an unmitigated disaster. Tariffs are taxes. Manufacturing is still declining, not returning and a man who could not run casinos successfully is not going to change that. His economic and foreign policy are dictated entirely based on who flatters him the most. Add to that continued environmental damage, domestic policy dictated by a regressive religious minori…

Hope the voters remember this for the next couple election cycles.

The vast majority of voters don’t ever understand why they’re being screwed by economic policies, they just know when they are.

Re: Canada will match US tariffs 'dollar for dollar' as trade talks break down

#640

Post by swat535 »

LeFantome wrote: post #513
Chyzwar wrote: post #490

Earlier quoted context omitted.

That not how politics works. It is much slower and hidden process. EU fast tracked Mercosur and other trade deals. China and Japan is slowly dumping US treasury bills, Canada is in open trade confrontation and is diversifying toward China. Everybody is shifting away from US weapons suppliers. Nobody is willing to help with Iran even on symbolic level.

You are both right. The world capitulates more than it should. But the world is also moving away and building contingencies. The world needs leadership. And Canada is helping with that. I do not think that reciprocal tariffs are actually the answer though. They hurt both sides and the US is not a rational enough actor to respond like you hope they will. The answer is in shifting trade away from the US and isolating t…

As a Canadian, my hope is that we can build stronger relations with Europe. I don't think anyone can avoid China but I would rather minimize those ties.

We can't afford to cut all ties with United States due to our geography and history, however it would be prudent for us to reduce our dependency.

I don't think majority of Canadians wish to see the nation in such a vulnerable position again with regards to US. Banking on a single player in terms of security and trade has proven to be a risky endeavor.

I have much love for the American people, but I support the actions of our government.

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