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 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
-
@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.
-
@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.
-
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
-
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 -
I'm struggling to identify people who are going to do well out of this.
-
@Doctor-Phibes Doug Ford just sacrificed 15,000 souls in Ontario. Let’s hope they get coverage soon. This is likely pennies to Elon. https://www.cbc.ca/news/canada/toronto/ford-ripping-up-province-contract-with-starlink-1.7448763
-
@Doctor-Phibes Doug Ford just sacrificed 15,000 souls in Ontario. Let’s hope they get coverage soon. This is likely pennies to Elon. https://www.cbc.ca/news/canada/toronto/ford-ripping-up-province-contract-with-starlink-1.7448763
I guess TELUS, Rogers and Bell are going to have to actually make an investment in their backyard now.
Edit:
Watching that bastard Trump pontificating and playing the victim again from the Oval Office on CBC Newsworld. He’s back again on us becoming the 51st state but can’t understand why 90% + of country are not interested or would even consider it. He really appears sad and hurt. I really hope he’s just as offended as that Fox News asshole was ten days ago when Ford told him the same.
-
@jon-nyc said in Canadian Tariff situation gets its own thread:
Listen very carefully for the words ‘fentanyl’ and ‘border’.
Yeah, me neither.
The assumption when he first brought this up was that it was a rather unfunny joke. Even I don't repeat unfunny jokes that often.
