US tariffs on Canada & Mexico begin tomorrow

[Morphine Prince 109,926]

WASHINGTON (AP) — President Donald Trumpsaid Monday that 25% taxes on imports from Mexico and Canada would start Tuesday, sparking renewed fears of a North American trade war that already showed signs of pushing up inflation and hindering growth.

“Tomorrow — tariffs 25% on Canada and 25% on Mexico. And that’ll start,” Trump told reporters in the Roosevelt Room. “They’re going to have to have a tariff.”

Trump has said the tariffs are to force the two U.S. neighbors to step up their fight against fentanyl trafficking and stop illegal immigration. But Trump has also indicated that he wants to even the trade imbalance with both countries as well and push more factories to relocate in the United States.

His comments quickly rattled the U.S. stock market, with the S&P 500 index down 2% in Monday afternoon trading. It’s a sign of the political and economic risks that Trump feels compelled to take, given the possibility of higher inflation and the possible demise of a decades-long trade partnership with Mexico and Canada.

Read more: https://apnews.com/article/trump-tariffs-mexico-canada-b19e004dddb579c373b247037e04424b?taid=67c60d3c0119c30001f7fd9b&utm_campaign=TrueAnthem&utm_medium=AP&utm_source=Twitter

[bionic 50,111]

Are the tariffs a threat to Mayhem's sales figures?

[Lucas 31,484]

I hope it's the time when inflation hits and the 4/5 MAGAts that have a few braincells left wake up. Even if it's too late to stop what has started.

[Petie Estie 5,736]

this is gonna suck ass but like....if it really helps relocate more manufacturing here that is good no? 

[bionic 50,111]

1 minute ago, SEANGT said:

this is gonna suck ass but like....if it really helps relocate more manufacturing here that is good no? 

It won't. Hope this helps

[Emvee 8,858]

There’s nothing that Mexico and Canada can do to stop this because it’s their intention to tank the economy. The first hint was him trying to blame Canada for fentanyl. 
 

Non voters need to step up in the midterms so we can impeach Trump immediately and prosecute Musk. It’s going to take more than the typical voter to get the majorities that we need to undo this **** and hold people accountable. 

[Bronco 27,585]

The economy is already reversing due to the early chaos of the Maga admin.

These tarrifs are going to cause serious damage to the poorest in America.

[27monster27 16,039]

22 minutes ago, Bronco said:

The economy is already reversing due to the early chaos of the Maga admin.

These tarrifs are going to cause serious damage to the poorest in America.

Thank you for mentioning this. So many of these MAGA influencers (even ones that don't brand themselves as such) don't care about tariffs because they are privileged upper middle class white people. Their lives will go from unfairly easy to normally easy at best, and maybe sort of kind of difficult at worst. I agree with what people said during the election: This election proves that the upper class convinced much of the middle class that the lower class is the problem.

[Flareon Voyager 379]

Like people have already said, they're trying to crash the economy so that the rich can buy up everything for cheap. It's not about immigration, drugs, cartels, etc. It's not about bringing jobs back. Americans are so selfish. But obvs not the ones whom didn't vote for these morons.

[NotoriousEden 621]

54 minutes ago, Emvee said:

There’s nothing that Mexico and Canada can do to stop this because it’s their intention to tank the economy. The first hint was him trying to blame Canada for fentanyl. 
 

Non voters need to step up in the midterms so we can impeach Trump immediately and prosecute Musk. It’s going to take more than the typical voter to get the majorities that we need to undo this **** and hold people accountable. 

How many senators are even up in the midterms? We need a lot of senators to remove him (IIRC 60 senators, maybe 2/3rds)

[Murakami27 8,800]

Nothing more satisfying as a Canadian than putting down American products. Never been happier to support Canadian products and those of other nations. He and his tariffs can suck it!

[RAMROD 117,980]

Gaga's ticket will be even more higher in Canada & Mexico, I fear. If she will go there at all now

I know she will visit Mexico in April, but remain to be seen if that's part of MAYHEM Tour or not, cos if it isn't, then the tour tickets will be crazy for these two countries.

Big foreign acts, not limited to US artists, booked to play in Canada & Mexico invariably want to be paid in American dollars. The depressed value of their currency will force concert ticket prices up. If promoters can’t afford to pay in US dollars and agents/promoters won’t negotiate, foreign acts will simply avoid coming to Canada.

Not to mention importing the tour merch from venue to venue, the merch will be even more expensive in Canada & Mexico than already is now

[Economy 53,077]

I had to work on the weekend cuz of this. A client of ours wanted to move a bunch of stock out of Canada to the US in a rush in case tarrifs went thru. We had to load 10 trucks worth of stock om saturday and sunday so it could cross the border today. What a sh*t show

 

At least it opened up some space for us tho cuz we were so full in the warehouse and we had no idea where we were gonna put a clients new stock so it kinda worked out for us

 

But on a more generalized basis yeah this gonna hit the economy hard

[Economy 53,077]

5 hours ago, SEANGT said:

this is gonna suck ass but like....if it really helps relocate more manufacturing here that is good no? 

I mean in terms of factories and services the USA actually has a trade surplus with Canada and the (small) overall trade deficit is exclusively due to natural resources especially energy so at least as far as Canada goes, no this will not help factory jobs or manufacturing because were a net contributer to US manufacturing on trade

 

On a more global scale yes it may help reshore some manufacturing. But the benefits of tarrifs rarely outway the downsides because some of the gains from reshored factories are offset by lost exports (because other Nations inevitably retaliate on you)

 

Comparative advantage is also lost where you import things cheaper than your capable of manufacturing yourself saving money, but you loose access to markets to sell what your most competitive in. This hurts productivity.

 

Thats the idea behind trade, buy cheaper what your not competitive in, and sell lots of what you are competitive in. When you try to close trade, you loose lucrative exports and jobs in exchange for producing more stuff yourself that your not as competitive in and raise the cost for everyone at home when you could have just imported that cheaper and instead sold more of what ur good at. The US tried this post WWII and it backfired, they ended up cancelling tarrifs after it didnt workout

 

Its true the US has an overall trade deficit but that doesnt mean trade is harming US economy. Other bad policies (such as large budget deficit and bloated military spending) can indirectly affect the balance of trade by promoting consumption and not promoting any production. Its not just how good (or not good) a trade deal is that determines if youll have a trade deficit or surplus with the world. But its politically convinient to blame the entire problem on other Nations "ripping you off"

 

Who u have a trade deficit and surplus with also doesnt necessairily mean much. Canada has consistent deficits with Central and South America because we need a lot of their produce but other than fertalizer we dont have much they need. But we dont complain about it. We still need bananas and avocadoes and refusing to buy them to balance trade deficit would have no positive impact on our quality of life and economy whats so ever because we need those things from them we cant grow on our climate. The fact we dont sell much they need does not change that fact

[Economy 53,077]

4 hours ago, Murakami27 said:

Nothing more satisfying as a Canadian than putting down American products. Never been happier to support Canadian products and those of other nations. He and his tariffs can suck it!

I was buying some lamb the other day for pot roast and when I asked the worker which cuts did they have he asked do you want Canadian or from New Zealand?

 

And i said I dont care as long as its not American. And then I said "Canadian I guess"