Canadian Tariff situation gets its own thread
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I do suspect a universal tariff of 3-4% may be coming. I wonder if this is a big show to prep our allies that they can and will be tariffed, and maybe to get them to feel like 3% ain’t that bad.
@LuFins-Dad said in Canadian Tariff situation gets its own thread:
I do suspect a universal tariff of 3-4% may be coming. I wonder if this is a big show to prep our allies that they can and will be tariffed, and maybe to get them to feel like 3% ain’t that bad.
It's an opening gambit of some kind.
Typical Trump.
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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@LuFins-Dad said in Canadian Tariff situation gets its own thread:
I do suspect a universal tariff of 3-4% may be coming. I wonder if this is a big show to prep our allies that they can and will be tariffed, and maybe to get them to feel like 3% ain’t that bad.
It's an opening gambit of some kind.
Typical Trump.
@Jolly said in Canadian Tariff situation gets its own thread:
@LuFins-Dad said in Canadian Tariff situation gets its own thread:
I do suspect a universal tariff of 3-4% may be coming. I wonder if this is a big show to prep our allies that they can and will be tariffed, and maybe to get them to feel like 3% ain’t that bad.
It's an opening gambit of some kind.
Typical Trump.
No, it’s playing the aggrieved victim.
Typical Trump demagoguery .
But you already knew that.
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No, but Jolly doesn't think this has played out. At all.
Jolly also thinks the threat of tariffs + legislation to lower tax rates on corporations who move or build plants in the U.S., will lead to more jobs, more educated legal immigrants and a better strategic position.
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Jolly also thinks the threat of tariffs + legislation to lower tax rates on corporations who move or build plants in the U.S., will lead to more jobs, more educated legal immigrants and a better strategic position.
Okay, so you support indiscriminate extortion as a legitimate means of conducting diplomacy and US foreign policy with partners and allies. I can only surmise that you also applaud it when other large and powerful countries employ extortion or coercion to advance their interests.
Got it. I more than just suspect now that you really are an irrational fanatic.
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If you listen to the administration it seems like the fentanyl stuff, at least with respect to Canada, was necessary as a legal basis for tariffs under Trump’s rebranded NAFTA. But many of his comments seem to indicate a concern about trade deficits if not the very idea of imports, which he considers subsidies.
That’s why I asked the question ‘where are these demands?’
I don’t think any have been made, since that would require some coherent goal in the first place.
@jon-nyc said in Canadian Tariff situation gets its own thread:
If you listen to the administration it seems like the fentanyl stuff, at least with respect to Canada, was necessary as a legal basis for tariffs under Trump’s rebranded
That’s why I asked the question ‘where are these demands?’I don’t think any have been made, since that would require some coherent goal in the first place.
It now seems the big irritant might actually be banking. Trump incoherently ranted about it for this first time last night during the airport tarmac scrum. Trudeau and Trump spoke over the phone and are scheduled to speak again later this afternoon at 3 pm EST. Mexico earlier delayed the tariffs by agreeing to deploy 10 K troops along the southern border. Some similar sort of off-ramp might be taking shape here.
To be frank though, I am not optimistic. Especially if it concerns banking regulations. Any change to those would require a Parliamentary Act of amendment. Something that cannot happen anytime soon. In fact, not until after a general election that may or may not deliver a majority government.
Until this point, Trump has framed the tariffs as a way to hit back at Canada for the ongoing trade deficit and supposed inaction on drugs and migrants crossing the northern border into the U.S. — his stated concerns about banking fairness are a new development.
A number of American banks do business in Canada with large lending and commercial and investment banking operations, among other functions, on this side of the 49th parallel.
Personal banking in Canada is largely the domain of Canadian-based banks, due to stringent federal regulations designed to protect against bank failures. According to government figures, Canada's large banks hold more than 93 per cent of all domestic banking assets.
https://www.cbc.ca/news/politics/trudeau-trump-speak-trade-war-1.7448805
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@Renauda More than likely, I think Trump saw a clip of Mark Carney speaking, and squirreled off reacting, thinking, wanting to engage with him after Trudeau exits. Or perhaps a Canadian bank denied him a loan once, twice, 3x back when and he’s still pissed. As for American banks, they’ve had a presence in Canada since the 1970s, early 80s. My mom (a former Chase corporate lender) helped open their YYC branch. I’d trust our federal government (whoever is running the show) to safe guard our Canadian banking, that includes personal banking. We’ve a pretty solid system. Trump isn’t the only person/country wanting a piece of it.
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@Renauda More than likely, I think Trump saw a clip of Mark Carney speaking, and squirreled off reacting, thinking, wanting to engage with him after Trudeau exits. Or perhaps a Canadian bank denied him a loan once, twice, 3x back when and he’s still pissed. As for American banks, they’ve had a presence in Canada since the 1970s, early 80s. My mom (a former Chase corporate lender) helped open their YYC branch. I’d trust our federal government (whoever is running the show) to safe guard our Canadian banking, that includes personal banking. We’ve a pretty solid system. Trump isn’t the only person/country wanting a piece of it.
That’s a strong possibility. I am all but certain that Carney will win the Liberal leadership race in March. Even it if Carney is a short lived PM, Trump will have to engage with him on this conflict.
It could be interesting too. Trump inadvertently might well ensure Carney carry the Liberals back into a majority government in Ottawa. Outside of Alberta and Saskatchewan, confidence in Poilievre’s ability to form a government and manage relations with Trump is rapidly diminishing or, as in case of Quebec, non existent. If Poilievre cannot hold his popularity Ontario he is politically dead in the water.
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This thread is as good a place as any to post this
Sen. Chuck Grassley (R-Iowa) on Monday asked President Trump for an exemption for farmers on the sweeping tariffs he imposed over the weekend.
Why it matters: Republican lawmakers from agricultural states may find themselves in a tough spot as they try to avoid going against their party leader, while still protecting their constituents.
American Farm Bureau President Zippy Duvall said in a statement over the weekend that "farmers and rural communities will bear the brunt of retaliation" from the tariffs.
https://www.axios.com/2025/02/03/grassley-trump-tariffs-congress-farm-states
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Right now I’m sure Canadian canola farmers are making their decisions of what & how much to plant this year. They will suffer.
I’m just learning how complex the cross border beef industry is too.
https://www.cbc.ca/news/canada/calgary/tariffs-alberta-beef-canola-1.7448373
