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submitted 1 week ago by MicroWave@lemmy.world to c/world@lemmy.world

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.

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[-] GreenKnight23@lemmy.world -1 points 1 week ago* (last edited 1 week ago)

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.

[-] Godwins_Law@lemmy.ca 2 points 1 week ago

That still doesn't mean that what Trump is doing isn't a dumb mistake

[-] ayyy@sh.itjust.works 1 points 1 week ago

*was a world currency

[-] Wooki@lemmy.world 0 points 1 week ago* (last edited 1 week ago)

Gold, local currency, you dont need to be a rocket scientist to figure it out.

[-] prole@lemmy.blahaj.zone -1 points 1 week ago* (last edited 1 week ago)

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.

[-] Wooki@lemmy.world 2 points 1 week ago* (last edited 1 week ago)

Cool story, we are talking international currencies, Read the thread before looking like a fool

[-] GreenKnight23@lemmy.world -2 points 1 week ago

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?

[-] MonkeMischief@lemmy.today 1 points 1 week ago

...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...

[-] Wooki@lemmy.world -2 points 1 week ago* (last edited 1 week ago)

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

[-] GreenKnight23@lemmy.world -1 points 1 week ago

can't be edgy while you starve.

you'll think back to this moment when you're hungry.

[-] Wooki@lemmy.world -1 points 1 week ago

Better start prepping then so you don't starve

You'll think back at this moment when you've got a full stomach.

[-] GreenKnight23@lemmy.world -1 points 1 week ago

you're right, I will. but not for the reasons you're implying.

this post was submitted on 18 Jan 2025
68 points (98.6% liked)

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