Trump's Great Tariff Wall Shafts Americans
Another Thing That Trump Doesn’t Understand
Two-thirds of Americans think the country is on the wrong track, 70% think the economy is bad, four out of five people don’t trust government - and Donald Trump is declaring a trade war against the rest of the world, starting now.
Trump will place a 25% tariff on goods coming from Mexico and Canada – except for Canadian oil which will be at 10% for a few more weeks – and China gets hit with a 10% tariff.
“This is the reality of the Trump Administration,” said Canada’s Minister of Foreign Affairs Melanie Joly.
Trump has promised to levy tariffs on Canada because immigrants, drugs and unbalanced trade deficit.
Only 0.08% of America’s fentanyl drug problem comes from Canada, and about the same share of immigrants. Yet in Trump’s twisted mind "China makes the fentanyl, gives it to Mexico, puts it through Canada, puts it through different places, mostly Mexico, but also a lot through Canada. And so all three haven't treated us very well."
The trade imbalance is completely due to American purchases of Canadian oil and gas. Kirsten Hillman, Canada’s ambassador to the U.S., had a suggestion: "We can sell you less energy because we do have other customers. It's just that we have always prioritized our American friends because we want you to succeed.”
So: you don’t want Canadian oil, don’t buy it. Fine n‘dandy.
As far as Canada is concerned, there are no issues. If Trump carries through with his tariffs, he will lose the fight, like he did in his first presidency.
His whole “Art Of The Deal” approach only works if you can win with every card. He can’t.
Here is how his last ploy worked out for America:
Now, the tariff could disrupt nearly $1.6 trillion in annual trade between the U.S., Canada and Mexico.
Trump originally wanted a 10 percent across-the-board tariff on all imports – which would cost each American family some $1,500-$1,700 per year in added prices. This would include a $90 tax increase on food, a $90 tax increase on prescription drugs, and a $120 tax increase on oil and petroleum products. The fact that tariffs are paid by the American consumer, not the exporting country, is a subtly that is continuously lost by MAGA types.
There was an absolute decline in industrial investment in Trump’s first term; Biden policies generated more than $650-billion in new investment. Biden did not raise prices for consumers – he reduced them.
The last time tariffs were used as an all-purpose club was the Smoot-Hawley Act of 1930, which build a tariff wall around America. It was a disaster. U.S. trading partners retaliated by raising their tariffs, which froze international trade. Angry voters turned against the Republicans and Franklin Roosevelt was swept into office.
Trump has said he will also impose tariffs on goods from the European Union at a later time.
He is signalling ahead of time, that he does not want the US to have any allies or trading partners.
Putin must be rubbing his hands in glee. Never in history has a victory been so close for a country- America’s partner Ukraine is about to end Russia’s period of great rivalry – and has been tossed aside by its own leader with such cavalier stupidity.
Trump has the lessons of history in front of him, he had the economic forecasts, and yet he jumped off a cliff. He pursued a policy that has no benefit to America.
Except that Americans will now pay higher prices, inflation will climb, and nations will turn their backs.
Polls show that the disapproval rate for Trump is climbing, with an increasing number of voters disapproving of his actions. Disapproval has risen 1% over the past 24 hours alone, and 2.5% since he took office. According to Gallup: “Trump remains the only elected president with sub-50% initial approval ratings, and his latest disapproval rating (48%) is three percentage points higher than in 2017, marking a new high for inaugural ratings.”
A survey of historians put Trump at the very bottom of the list of ‘worst presidents’.
After this tariff move, they will have to find a lower rating than “last”.
The U.S., Canada, and Mexico have a free trade agreement NAFTA changed to USMCA under Trump in his last term of office. It was supposed to encourage mutual trade and benefits to the three N. American partner countries has a term of 14 years with a renewable option. This is a trade agreement contract among allies and is the basis for all sorts of supply lines and investments. Violating that contract will have all sorts of consequences not to mention a huge blow to the reputation of the U.S.
The promised tariffs on the EU will bring Mexico and Canada closer to the EU, perhaps even allowing them to become full members to offset losses in the U.S. market.
It just occurred to me that there are even greater consequences than the violation of agreements with Canada and Mexico. Trump is also threatening Panama and his neo-imperialist attitude toward Central/South America is likely to be a shot in the arm for the China-dominated BRICS organization dedicated to providing an alternative to U.S. economic hegemony. Of course, several authoritarian S. American countries have already shown interest, but with Trump's chaos and aggression, others might want to join for self-defense and an alternative if the U.S. economy becomes a train wreck. This is China's entre into increased presence in the Americas. Currently, BRICS includes half the world's population and Trump's blundering is sure the increase interest in a "Plan B" economic option. Trump is opening long festering wounds in the Americas and the U.S. is no longer the only game in town. Violate USMCA at your own peril.
Canada: But, but we put up cameras and talked about drones and big spy towers and stuff and Justin went to visit you and Danielle cupped you balls and people showed you stats and videos of the very quiet border so why are you saying now that nothing can stop the tariffs?!
U.S.: HAHAHAHAHAHA because 🖕 you, that's why. Stoopid Canuck cucks.
Ink: Told ya. 🙄