Trump launches trade war against Canada with a 25% tariff on most goods (www.cbc.ca)

submitted 6 months ago* (last edited 6 months ago) by breakfastmtn@lemmy.ca to c/canada@lemmy.ca

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Senior Canadian official says tariffs will take effect on Tuesday

President Donald Trump launched a trade war against Canada on Saturday by imposing a 25 per cent tariff on virtually all goods from this country — an unprecedented strike against a longstanding ally that has the potential to throw the economy into a tailspin.

Trump's long-threatened plan to inflict economic pain on Canada has materialized on the day he said it would, and it includes a 10 per cent tariff on Canadian energy products, according to a senior Canadian official who shared details of Trump's plan with CBC News.

These potentially devastating tariffs will take effect on Tuesday and remain in place until Trump is satisfied Canada is doing enough to stop the flow of fentanyl into the U.S., the government official said.

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[-] ExtremeDullard@lemmy.sdf.org 21 points 6 months ago

I can totally see how this is going to lower the price of eggs.

[-] kbal@fedia.io 13 points 6 months ago

I don't know if it will lower the price of eggs, but it might shut down the auto industry, leave some border cities in ruins, result in shortages of many important industrial inputs and surpluses of others on both sides of the border, tank the Canadian dollar, cause a sudden jump in consumer prices, wreck the American economy, and consequently crash the world economy, leading to a dramatic realignment of world power and the start of some kind of new era the shape of which we can only guess at.

You know, unless they suddenly call it off next week which is also a possibility.

[-] ExtremeDullard@lemmy.sdf.org 9 points 6 months ago* (last edited 6 months ago)

it might shut down the auto industry, leave some border cities in ruins, result in shortages of many important industrial inputs and surpluses of others on both sides of the border, tank the Canadian dollar, cause a sudden jump in consumer prices, wreck the American economy, and consequently crash the world economy, leading to a dramatic realignment of world power and the start of some kind of new era the shape of which we can only guess at.

So... Eggs are not affected.

Pfffew! I knew Trump knew what he's doing.

[-] xmunk@sh.itjust.works 3 points 6 months ago

It probably actually will... the tariff surcharge will make egg exports less profitable so its likely the domestic supply will increase.

Oh you meant for the Americans yeah... it makes as much sense as Trump adding a tariff on TSMC chips to uh... increase import volume? Wait no, it does the opposite... make US AI more competitive? Wait no, that also does the opposite.

Trumps a fucking idiot that just wants to personally enrich himself and doesn't give a damn.