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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[-] henfredemars@infosec.pub 24 points 6 months ago

As an American:

Whyyyyy what could we possibly stand to gain from doing this, ever? This is so stupid.

Unless the goal is simply to crash the economy so billionaires can buy businesses for cheap, I really have difficulty imagining why we would ever do this.

[-] Revan343@lemmy.ca 17 points 6 months ago

It's also good for Russia, so there's that

[-] The_Che_Banana@beehaw.org 8 points 6 months ago

Putin is getting his money's worth

[-] ExtremeDullard@lemmy.sdf.org 12 points 6 months ago

Trump said he wanted to make Canada a US state, and he told Canadians they wouldn't have to suffer tariffs if they were a state.

So... Can you guess?

[-] xmunk@sh.itjust.works 4 points 6 months ago

It will likely have a larger impact on blue states (with some important exceptions) especially my previous home of VT which is dependent on Hydro Quebec for their electricity. Blue states tend to have more dependence on the global economy for economic inputs while red states are more export focused... that all said the retaliatory tariffs will likely really hurt O&G states like Texas.