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

bbc.com

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

#771

Post by ColdStream »

coolandsmartrr wrote: post #483
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…

Japanese here. Caved is not an accurate expression. After intense negotiations with Trump, Lutnick, and Bessent, Minister Akazawa managed to reduced the tariff from the proposed 25% to 15%. His story of flying weekly to the States on commercial aircraft became legendary. PM's resignation stemmed from unpopularity not due to tariff negotiation, but diminished ability to pass laws after the ruling party lost significan…

I said it in another comment, not only did they negotiate that, the resulting negotiation held very little of substance for the US. It was very light on specifics and all for show.

It has been said that when the tariffs started that the Japanese delegates went to Washington to negotiate. The delegates asked them "Since you are trying to negotiate, what do you want of Japan?"

All they got back was "Well, what can you offer?"

Turns out they had started the tariff war with absolute no idea on what demands they wanted to make. Japan used that to their advantage because without any specifics, they were free to write the terms.

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

#772

Post by tensor »

guessbest wrote: post #474

Is YC News an American website? It seems like all the comments are advising against American interests with regards to tariffs.

Given how poorly everything is going for the US thanks to these tariffs that certainly is a take. Brace yourself though, it's going to get worse!

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

#773

Post by ColdStream »

dfxm12 wrote: post #573
armada651 wrote: post #454

Earlier quoted context omitted.

Everyone is banking on the current trade policy simply being temporary and whoever replaces Trump in the White House next will restore bilateral trade to normal. Why would you destroy your trade relation with the U.S. for decades to come when you can just ride out a bad deal for a few years? Not saying I agree with it, because it sends the wrong signal, but I can understand the reasoning at least.

USA is basically a uniparty with respect to foreign policy. It's not like Biden restored US foreign policy wrt pre Trump tariffs on China... It's a nice thought, but I wouldn't "bank" on it.

Terrance McKenna once said that the worst US President is the current one regardless of the time. That is because they always seem to just accept what has come before and just stack more things on top.

Biden didn't remove the Trump Tarrifs on China for instance. But this goes across party lines and back for decades. Neither side is interested in tearing down the surveillance state stuff is a good example.

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

#774

Post by jjtwixman »

pessimizer wrote: post #747

This is so cute, won't bother the US in the slightest, and will be backed down from instantly. It could literally be within days. Tariffs are the only good thing that Trump has tried to do - really driven by Bessant, the only competent person in the administration. He's had to react to "Trump's" bizarre decisionmaking, which is really the sum of Israel's and random lobbyist's desires, which has completely thrown off…

> tax on foreign exploitation

Yeah no not really because none of the tariffs seem to be tied to human rights or exploitation. Otherwise you wouldn't be putting tariffs on your close, democratic allies.

Your post is kind of anti intellectual and retarded tbh.

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

#775

Post by tensor »

llm_nerd wrote: post #48
bulbar wrote: post #46

Earlier quoted context omitted.

Canada and EU tightening their relation, pretty sure there are a lot agreements in the making. Will be great for both and appreciated by the people living in EU (and surely Canada as well).

A lot of it has been half-hearted. Basically "wait out this loser and everything will go back to the way it was". A lot of Americans are leaning on this as well. Like over the last year we (Canada) should have utterly obliterated the US from any element of the Canadian supply chain. Instead everyone just keeps expecting things to return to normal so no one makes the necessary investments to stop it at the border. Ame…

> A lot of it has been half-hearted. Basically "wait out this loser and everything will go back to the way it was". A lot of Americans are leaning on this as well.

Absolutely not what's been happening. At the speed that Canada is signing new trade deals in a decade the entire balance of trade power will look different. And unlike the unreliable US deals, these deals are much more likely to endure and expand. The only reason Carney felt comfortable taking this position on Friday is because he feels confident that in the long run our diversification efforts can solve our issues. I suspect he figures that we can weather the pain until the new trade deals come to bear fruit.

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

#776

Post by ColdStream »

roncesvalles wrote: post #463
armada651 wrote: post #454

Earlier quoted context omitted.

Everyone is banking on the current trade policy simply being temporary and whoever replaces Trump in the White House next will restore bilateral trade to normal. Why would you destroy your trade relation with the U.S. for decades to come when you can just ride out a bad deal for a few years? Not saying I agree with it, because it sends the wrong signal, but I can understand the reasoning at least.

Exactly. You can't assume it's a new normal until Trump is out of office.

As many have said, Trump is a symptom of a deeper issue.

Once is an accident, twice is a pattern. It isn't that Trump specifically is the problem it is that there is a sizable enough part of the US population that will actively vote in that kind of governance.

Trump will leave, either via election, being ousted or via the Grim reaper. But the things that got him to that position are still very much in place and potentially even stronger than ever.

I said it before he even got elected the first time, he is an echo of the future that is coming. A prototype of something that will be handled more competently in future for better or worse.

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

#777

Post by IshKebab »

kube-system wrote: post #639
goatlover wrote: post #606

Earlier quoted context omitted.

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 .

They don't even know that, come on.

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

#778

Post by peterbecich »

angulardragon03 wrote: post #302
peterbecich wrote: post #218

Earlier quoted context omitted.

Agreeing with your larger point but on the other hand, Trump-voting districts with older industries probably have trade deficits, both with other American districts and especially internationally.

Yeah but this is the point, right? The guy thinks the US is still living in an era before it became a massive service economy

I agree it is the point, but it is not the end of the story. These districts will continue to vote for Trump-like candidates until their situation improves, I predict.

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

#779

Post by ColdStream »

toomuchtodo wrote: post #442
iamjs wrote: post #436

Earlier quoted context omitted.

Couldn't the US buy back more bonds through QE than any foreign country could sell?

Debasing the currency is equivalent to a soft default, and would accelerate investment away from the dollar and treasuries. Mechanically, certainly, it can be done, but investors won’t do nothing while the US inflates their asset value away. They’ll take the loss (which they’d take anyway from monetizing the debt) and reallocate elsewhere. Part of the reason Ray Dalio was on Bloomberg saying to sell bonds and buy gol…

Ouch! I'm not a huge fan of Dalio, I think he misses some big picture stuff outside of economics but when it comes to just economics he has a fairly good grip on it. So when he is saying that, interesting times ahead. Not saying he is right but that is a fascinating signal of were things are going.

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

#780

Post by sagarm »

TacticalCoder wrote: post #243
pluc wrote: post #188

Earlier quoted context omitted.

The problem is they're also stifling trade with China. We still have quotas on Chinese cars so that they don't flood the market with affordable cars to preserve our (yours and ours) inferior car industry. It's basically what Canada is doing to the US with dairy, except with Chinese cars.

I'm in the EU and my masters did hand over the car market to chinese cars and this was a very stupid move. Some EU carmakers are fighting back but it's very hard when politicians managed to have energy price in the EU being about 7x higher than those carmakers in China do pay. I'm not for tariffs but China is dumping and if we don't all want to end up being vassals of China, we should at least protect some of our ind…

I haven't previously heard the claim that China can make vehicles cheaply primarily because of energy costs.

What percentage of European automotive manufacturing costs come from energy?

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