I wonder if that’s true, I thought I read last week that Trump thought a EU deal was 50/50 and that Canada may just have to pay the tariffs. I could be wrong. I do know China is next up, meeting in Stockholm on Monday.
Everyone just nods their heads and waits for him to go home.
The U.S. economy is very diversified and complex. U.S. economy and trade are not even remotely dependent on foreign tourism. The Euro is worth 1.18. At some level, it will encourage some Americans to travel at home. It will be hard for Europeans to resist that FX rate beyond the short-run.
Who wants to visit the US and risk being disappeared by ICE?
Sure. But every bit helps. And when parts of the diversity falture it can affect the whole. And remember for every dollar that does not come in in foreign currency that's what, maybe 5x that in overall economic activity affected?
You aren't, imo factoring in whether people will buy the products.
Canada had a refinery infrastructure. And there was a plan to ship oil across the nation via pipelines. But teh Albertans felt the National Energy plans was screwing them and that oil would be expensive forever. So they blew up the plan, and spend the next 3 decades suppling the USA with discounted oil and blaming Eastern Canada for not building a pipeline and living through several boom/bust cycles. . THE END.
Canada is the largest producer by far, 2 and 3 are Russia and Belarus. Then CHina which does not export and then Germany that produces only 20% of what Canada produces.
Tourism does even compare to the magnitude of the trade deficit. If you take that 5x multiplier, the U.S. trade deficit works the other way in dampening activity.
Oil prices have been structurally low since 2014. The Russian invasion of Ukraine in 2022 caused a brief spike.
Nothing will change if Russia agrees to a peace plan. Sanctions are not coming off and sanctions are not really affecting Russian oil exports right now as they are making it to China, India and Saudi. So the total volume of oil will not change, and thus prices will not really move. But it will be logistically difficult to supply Northen US refineries with the volume of oil to replace Canadian exports even if you could find it. Canada could in introduce supply management of oil to the US or just subsidize rail to move a portion of oil to an export port, or even just to Quebec to reduce the availablity of oil in that market,.
The so called trade deficits with Canada is mostly energy based. Which you need.
CBC notes that american companies are just eating the tariffs for now, GM didn't increase prices and lost $1 billion. That's not sustainable, likely companies were seeing if they could ride out the TACO king.
Isn't it shitty when politicians running massive deficits try to buy voters favour?The orange POS is now thinking about sending Americans' rebate cheques because of all the tax money he's taking in. I'm sure they will be stamped with Trump's fugly face on them. It will be akin to the Carbon Tax Rebate, so maga righties and pretzels be warned, bragging about this policy if the Trumputin Admin brings it in while railing against the carbon tax rebate.
Tariff rebate check: What Trump said and what we know
Trump says he’s considering a tariff rebate check: ‘So much money coming in’
President Trump told reporters this week that he is considering a tariff rebate check. Here’s what he said and what we know.www.livenowfox.com
GM has announced what their response is.
I don't believe it's a bad idea, considering most in general feel taxes are too high. it's just hypocritical to complain about one side and be happy when your team is doing it.
