Summary

Donald Trump launched a trade war against Canada by imposing a 25% tariff on nearly all Canadian goods, including a 10% levy on energy products.

His action, intended to pressure Canada to curb fentanyl flows, contradicts official trade figures and ignores that most deficits result from American demand for cheaper Canadian oil.

The tariffs, set to remain until Canada complies, could cost billions to Canada’s economy and disrupt $800 billion in annual trade.

Canada is expected to retaliate, forcing Prime Minister Trudeau to respond amid escalating cross-border tensions.

  • Flying Squid@lemmy.world
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    1 month ago

    Implementing a tariff without giving businesses an alternative is a self-inflicted wound in a trade war.

    • LifeInMultipleChoice@lemmy.world
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      1 month ago

      Being that we cut regulations over and over the number of refineries to oil in the U.S. decreased drastically over the years. It is why we had shortages while having loads of crude oil laying around. A quick search shows that building a refinery takes 3-5 years. So unless we can use the refineries we have to produce the fuel we need, we may hit years of higher prices. (Our lifting costs are much higher)

        • LifeInMultipleChoice@lemmy.world
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          1 month ago

          I’m looking forward to not being able to afford to live anymore soon. It currently costs me $20 a day to go to work. Just the .75 cents on gas would cost me $120 a month extra right now. Food costs are already outrageous. Certainly going to need a lot more ramen. I have chickens for eggs, but I should figure out some good ways to can/preserve vegatables this season for next winter. I can’t just throw everything in the freezer, not enough room.

  • j4k3@lemmy.world
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    1 month ago

    Americans suffering from pain that are not serviced by a corrupt medical system, and the most peaceful way to punch one’s own timecard is under attack in a way that will increase the cost of goods and services to average serfs, peasants, and wage slaves in the USA.

    • Savaran@lemmy.world
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      1 month ago

      What makes you think it’s supposed to help anyone? This is them speed running tearing the US down to the nails and selling it off for pennies to themselves.

  • StopTouchingYourPhone@lemmy.world
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    1 month ago

    O weird… Across every platform, I kept reading this would never happen and was just a distraction from some other terrible thing - or if it did happen it’d be our fault for paying attention in the first place (and Daddy drinks because you cry) - and here we are again. Murka doing exactly what they threatened to do.

    Looking forward to Trudeau’s response at 6. And the fuck Trudeau brigade can get bent.

    [edit bc nobody needs more allcaps]