Canadian Tariff situation gets its own thread
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“On again, off again, on again, off again, on again, off again” tariffs are “weighing heavily” on the Canadian energy sector writ large, Jonathan Wilkinson, Canada’s Minister of Energy and Natural Resources, told Forbes during CERAWeek, the S&P Global conference in Houston.
Tariff threats breed uncertainty, which paralyzes global energy investment, he said. “Businesses don’t know whether they should be making investments because they don’t know if the rules are going to change three months from now,” Wilkinson said.
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Of the 50 critical minerals, Canada owns the lion’s share of production of the top five--lithium, cobalt, copper, nickel, and manganese—collectively, thanks to its domestic industry and its interest in international mines.
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In the absence of the U.S. by its side, Canada is looking to secure stronger alliances with Japan, South Korea, the European Union and Australia, a critical mineral powerhouse.
“The Japanese have been one of the best partners with investment in many critical mineral projects in Canada. The EU is enormously interested as are many of the member states,” Wilkinson said. “They need [critical minerals] and they don’t have them,” he said.
As South Korea is a car manufacturing hub, it is also an interested buyer, he added.
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I am so proud be a citizen of “nastiest” country in the world. Nasty!
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What a mind.
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Actually if you listen to what he says, he gives away his poker hand. He says "we don't need their lumber, we don't need their energy"... aka that is EXACTLY what Trump wants. The trade deficit thing is purely a distraction.
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Actually if you listen to what he says, he gives away his poker hand. He says "we don't need their lumber, we don't need their energy"... aka that is EXACTLY what Trump wants. The trade deficit thing is purely a distraction.
if you subtract the Canadian oil and gas imports into the US, the USA runs a trade surplus for goods and services exported to Canada.
As well Trump is wholly disingenuous about the dairy trade. For one, Canada is the largest importer of US dairy products in the world. Secondly, US dairy products have never been subjected to Canadian tariffs simply because the US has never even met its allowable quota of dairy exports let alone exceed them. The 250% tariff is there only if the allowable quota under the terms of CUSMA are exceeded. Here are the facts spelled out in plain detail:
https://www.cbc.ca/amp/1.7483049
Trump conveniently ignores the fact that CUSMA bears his signature.
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Actually if you listen to what he says, he gives away his poker hand. He says "we don't need their lumber, we don't need their energy"... aka that is EXACTLY what Trump wants. The trade deficit thing is purely a distraction.
@89th said in Canadian Tariff situation gets its own thread:
Actually if you listen to what he says, he gives away his poker hand. He says "we don't need their lumber, we don't need their energy"... aka that is EXACTLY what Trump wants. The trade deficit thing is purely a distraction.
He's so convinced in his own view that he's this subtle negotiator, and yet he's so bloody obvious.
Once again, they think we're idiots.
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Canadians are fired up:
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@89th said in Canadian Tariff situation gets its own thread:
That’s a little misleading. You also have to remember that not all oil is created equally. Most of our own refineries are set up to process “heavy” and “sour” crude oil, while most of the oil drilled in the US is lighter and sweeter. That’s a big part of the reason why we import so much oil even though we produce even more. The type we produce isn’t the type we are set up to process.
The Brad
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I've heard lots of people note that Canada's liberal politicians have gotten a boost from the reaction against Trump. Eric Kaufmann most recently. He's a long-time favorite commentator of mine.
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I've heard lots of people note that Canada's liberal politicians have gotten a boost from the reaction against Trump.
Trump has not given a boost to liberal politicians. Rather he has turned the electorate in this country away from both left and right populists and back towards the non populist centre.
The decidedly left populist NDP has lost its moderates toward the centre and the right populist Conservative Party of Canada has lost its traditional base of what we called “red Tories” - such as myself who find the right populist trend repugnant - towards centre. The loss to left NDP and the right Conservative Party has been to the benefit of the Liberal Party of Canada. Meanwhile the Liberal Party is returning to its traditional centre right/left position that it had occupied before the advent of Justin Trudeau who, during his decade long tenure, pulled the party away from the centre and towards the progressive left.
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New Canadian Prime Minister Mark Carney on Sunday called a snap election for April 28, saying he needed a strong mandate to deal with the threat posed by U.S. President Donald Trump, who "wants to break us so America can own us."
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Alberta premier faces backlash for asking America to pause tariffs until after election:
https://globalnews.ca/news/11094625/danielle-smith-tariffs-canada-election/
