Summary
Canada is preparing to retaliate against Donald Trump’s proposed 25% tariffs on Canadian imports, which could trigger the largest trade war between the nations in decades.
Prime Minister Justin Trudeau promised counter-tariffs worth $37 billion, with potential for further measures, depending on Trump’s final order.
Canadian officials warn the tariffs could harm both economies, disrupting key sectors like automotive, energy, and agriculture.
Labor leaders expressed concerns over job losses and urged collaboration. Canada hopes to avoid tariffs by highlighting their mutual economic impact to U.S. lawmakers.
Canada/Mexico Tarriffs are reportedly, -not- coming “right away”…
😐
Last time we had a tariff war like this was the great depression
Make smuggling contraband across the great lakes great again.
god imagine how much worse the gang violence will get when the canuck mafia starts mowing down border patrol agents.
Canadian Mafioso: “sorry” machine gun noises, screams
Please Canada listen to your best and brightest
This is pure genius. Hit them where it hurts the most while simultaneously benefiting consumers.
I don’t understand why this isn’t the first option when a treaty is violated? Whybwould Canada continue to enforce their side of a now nullified agreement? How does Canada benefit from this?
It’s a good thought but much less practical than retaliatory tariffs. I don’t think there is precedent (in recent times) of Western nations overtly violating each other’s intellectual property rights.
Well now seems like a very good time to set a precedent
As an American, I want the world to punish us for our bullshit.
As an American, I really want to get the fuck out of here.
As a non-american, you’re doing about okay as everyone else.
For real. There is no escape unless you got a passport to a Scandinavian country. And then, it’s temporary. American nonsense is pervasive, it comes for everyone!
I’d say it’s time to leave the planet but I’m not a billionaire so… fuck me I guess.
That was my reaction exactly. “Good. Fuck us.”
Same
Take it all please, leave the rest of us able to fix what needs fixing.
Spank us, daddy! We’ve been so naughty…
name checks out
As another American, most of us want you to leave.
Trump doesn’t understand that tarrifs go both ways.
It’s kind of amazing that his first priorty upon entering office is getting revenge and starting wars. What an incredible person and even more than that, an incredible leader. Amazing.
He doesn’t care if Americans get hurt or suffer his batshit policies. His moronic base will support him even if they’re suffering; they’ll blame it on the brown people.
Do it. Isolate this evil shithole until it collapses. Please do it.
The US needs to be broken up the way the USSR was.
Didn’t that also give us Putin?
Good, Do it. Every country should do it. Make it fucking hurt.
I can’t wait to not be able to afford diapers since racist rednecks elected a clown. It’s like being held hostage on a train that’s headed for a brick wall. Trying to raise a family through this is so hard.
Repeated prisoners’ dilemma. They have to threaten and they have to add tariffs if the US does, anything else would be bad strategy
It’s not helped by the fact that Trump is corrupt and might have different winning conditions like “make Putin happy”, but that doesn’t change what Canada has to do.
Watching the US dollar
Grabs popcorn
I hope I live long enough to see the petrodollar die.
Watching the already shit Canadian dollar…
looks up best noose rope
rope prices too high
Just in case…
I’m going to love watching that smug tone vanish when you come to the realization that the US Dollar is a world currency and without it, it will cause widespread economic depressions across the world.
edit: I guess y’all don’t like to hear the truth. go ahead and bury your heads in the sand while orange putin destroys the world economy.
That still doesn’t mean that what Trump is doing isn’t a dumb mistake
not disputing that.
*was a world currency
no…it’s still a global reserve currency.
Well yea, the clowns aren’t in charge yet. It won’t survive defaulting on our debt and systematically alienating all our allies.
you realize that’s exactly my point…
I swear you couldn’t pull your head out of your ass if the instructions were tattooed on your colon.
Have you traveled much?
The Orange Numbnuts will turn the USD into the worthless Ruble.
The Orange Numbnuts that you voted for will turn the USD into the worthless Ruble.
excuse you, chucklefuck. I didn’t vote for the big orange turd.
edit: because you removed the most important part of your comment.
My bad, I did not read your “edit” and I changed my response. All is good, carry on.
Gold, local currency, you dont need to be a rocket scientist to figure it out.
LOL, gold… What year is it? If someone tried to give me gold for food in a global meltdown situation, I would tell them to fuck off.
Cool story, we are talking international currencies, Read the thread before looking like a fool
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you’re not very pragmatic are you?
gold only holds value so long as it’s accepted as an exchangeable currency. if nobody accepts it, then its value is zero…
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can you eat it? can you drink it? can it heal you when you’ve been stabbed or shot?
gold is worthless if you have no use for it.
It’s not a hard concept to grasp. if I don’t want what you’re willing to trade with, you have nothing and I have everything.
are you purposely being so ignorant on how currency works and why having a government backed currency is better than physical gold or have all the crypto/gold bro videos melted your brain?
you’re thinking too locally. countries have a reserve of USD on hand to use as trade and an easy way to pay debts. this is why USD is called a “global reserve currency”
Countries hold reserves for a number of reasons, including to weather economic shocks, pay for imports, service debts, and moderate the value of their own currencies.
what do you think happens to those other countries that hold USD reserves when it drops in value?
it’s an economic depression! hope you’re ready for your grocery bill to quadruple. do you think your power company will accept payments made in gold? silver? pleasures of the flesh?
doesn’t take a rocket scientist to figure out what’s going to happen once the USD halves in value. complete economic meltdown.
the question you should be asking yourself is, who benefits from this?
…it’s an economic depression! hope you’re ready for your grocery bill to quadruple.
complete economic meltdown.
Aw man I seem to vaguely remember a short time when this wasn’t happening ever since I’ve been of working age, but it already feels so distant now…
I think you’re taking it too lightly.
you should read up on the fall of the Soviet Union and what life was like after.
- waiting in lines for hours for the possibility of buying a pound of beef
- not having access to consumables like toilet paper for months
- medication becoming nonexistent
- cheap government subsidized vodka
- further corruption of local administration and public police
really, go read up on it. I’m sure it’ll blow your mind.
I think you’re taking it too lightly.
Sorry, there was no way I could find to phrase that without it reading sarcastically but sincerely, I wasn’t trying to downplay your insights!
I was being mildly sarcastic, but also totally serious, in that the birthright of Millenials and onward has been on the “and find out” end of eroding social safety nets and a generally declining civilization.
The idea of living in peace without constantly playing the “weather the next socioeconomic crisis” roguelike dice game is basically a foreign concept at this point. (To anybody who must work for a living.)
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“Oh wow, what a major recession! The worldwide economy sucks! There’s no jobs! Groceries are expensive! Bosses are kings! Wages are frozen!” (Which year, amirite?)
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“Wow these natural disasters are crazy! Look, the water catches fire! Woah, everyone’s full of plastic!”
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Hey that thing there was a steady supply of? Everybody’s freaking out and ready to fight over it.(Jobs, toilet paper, gasoline, twinkies, silicon, whatever.)
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“Hey everything was alright for a while! Workers are winning raises and sick days! But corpos complain and fire everybody to make line go up. Unemployment at record highs again. Here’s 42 ways to suck up to your boss and beg to keep your income.”
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“Haha wow we were SURE that plague was extinct.”
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"Rents skyrocketing. Nobody’s having children. People who want them are increasingly infertile. People who don’t, make it an entire political identity.
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(Insert the entirety of 2020-onward here)
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Everything is hyper competitive and a requires luck. The lucky want to tell you it’s all about Just Working Harder and “everything is actually better than it’s ever been!”
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Hey remember when the whole world went to war against fascists? Ha they’re seen as legitimate again because they’ve got memes now.
**TL;DR: **
I agree with you, it’s like watching the fall of the Soviet Union, except instead of The Party chanting “everything is fine keep working”, it’s mainly private interests. And nobody’s learned anything.
I’m trying to keep my head up lol…
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Comical.
groceries
Maybe for Americans where groceries are highly highly processed let alone majority imported.
Grabs locally grown whole foods including popcorn and gets healthier
can’t be edgy while you starve.
you’ll think back to this moment when you’re hungry.
Better start prepping then so you don’t starve
You’ll think back at this moment when you’ve got a full stomach.
you’re right, I will. but not for the reasons you’re implying.
Nice try but US used blind misplaced faith in your own superiority. It was super effective.
“Trump is more respected by other nations than Biden” part deux dipshit boogaloo
As an American surrounded by trump voting douchebags, I hope the economy crashes and people get a taste of what voting like a retard feels like.
when you have a certain world vue your frame of reference is this one. And you will prefer to hide reality for a very long time before admitting you made a poor decision. Worse admitting your point of view is not moral, or problematic.
All of this to say, people will not make a direct correlation between facts and their acts. They will find another plausible (for them) explanation.
I get the feeling many of these people are also preppers and actively yearn for a crash to justify spending their lives readying for it.
Also they’d get to live their dream: Actively competing to outlive their neighbors in a struggle for resources or something.
What’s america? Ill just know rusmerica. There is no America.
The economy will be fine and probably flourish. Let us know when you wanna apologize :)
Apologize for what?
I’m prepared, are they?
I love long-discredited economic ideas making a comeback. As someone who studied Econ, it’s just peachy seeing people vote to be poorer because no one remembers the last 50 times this was tried and didn’t work.
Please, everyone read about the 1800s. I’m not completely hostile to crypto but so many crypto people are like, “What if we had a ‘free banking’ era? Surely, there’s no downside.” And you just slam your fist on the table and say “Please read one AP American history book. An actual textbook, not a YouTube video. I’m not a particle physicist because I watch PBS Space Time.”
I feel like in every field right now, experts are facepalming all the ignorant decisions being made.
They need to YouTube a few meditation videos so they can become experts in mindfulness and not worry about all that /s
I think you’re right, and all of this is a side effect of mortgage-level paywalling of such education, and subsequent devaluing and even demonizing of it.
Resources like AP textbooks don’t just come up in peoples’ feeds. So they’re probably not even aware of them even if they were interested in the subject. And if they are, they gotta scrounge around eBay or those “library” sites.
Either way, it won’t reach the people who need to hear it most.
YouTube’s gotten really bad with commercial and ideological interests, but I do appreciate some creators out there making an effort to create digestible educational material.
But yes, the cryptobros phenomenon , or “DOGE” just being a re-vomit of failed Reagan/Thatcher-esque grifting policies, it’s all being pitched as something brand new and never done before.
Thanks for highlighting that I should check out 1800’s era “free banking” economics though. I’m really curious. :)
Could you give me a quick summation of why a free banking era is a bad thing and how it relates to the 1800s?
Not trying to start an argument, just genuinely curious
So, essentially, every bank was issuing its own currency. But banks fail all the time. And no one knew what was real money. I’m saying this on Lemmy so I’m clearly for distributed things but cash money needs a central bank, for trust reasons. Gold is a stable element so it was that for centuries but it also led to horrible things. Like an entire hemisphere dying of smallpox.
So, long story short, after WWII. we settled on the U.S. dollar, which was then pegged to gold. Eventually, Nixon decided to unpeg it from gold. Which was fine because gold was arbitrary. We could have pegged it to any element on the periodic table. Bretton Woods is what to google to read more.
So, what is the dollar backed by now? Mostly the U.S. Navy and trust built over time. It’s not perfect. America has never defaulted on its debts and you can exchange dollars for local currency at any airport. The independence of the U.S. central bank is a big reason. But if you’re writing a contract for a global deal, you use dollars. If Argentina wants to buy something from Vietnam, the contract uses dollars.
In the 1800’s, there was no agreed upon currency. Banks made their own currencies. And it was a catastrophe.
Basically, if you go buy dope, the dope man isn’t taking foreign currency except maybe U.S. dollars. Euros are probably fine but the dope man isn’t taking shit that can’t be changed into local currency. He’s got bills to pay too.
American dollars have value for irrational reasons but they have proved the test of time.
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I think it’s a bit late to tell people to look up why this won’t work, especially on Lemmy.
Everyone here knows Trump is not going to be good for the economy and can’t or won’t do anything about it.
the principal hypothesis of the bitcoin experiment is that a central ledger and issuer is not actually necessary, and it’s still going strong
central banks are a hell of a lot better than the hodgepodge that arose in the 1800s, but it’s not proven that they will outlast an adequately designed decentralized implementation (whether it’s bitcoin or something else)
there are plenty of problems down the road for bitcoin, but there are arguably more for central banks. can a centralized currency survive the failure of its backing empire?
If central banks are gone, you can probably assume the data centers are too. Crypto relies on a stable society far more than dollars.
