Donald Trump Tells Canada To Become A State To Avoid His Tariffs
www.huffpost.com
Trump claimed Americans "don't need" Canadian lumber, energy or cars.

cross-posted from: https://lemmy.world/post/24657192

Summary

In a virtual speech at the World Economic Forum, Trump suggested Canada could become a U.S. state to avoid his proposed tariffs on imports.

The remark elicited gasps from the audience.

Trump claimed the U.S. does not need Canadian lumber, energy, or vehicles, vastly overstating the trade deficit between the two nations.

He reiterated his intention to impose tariffs, potentially as high as 25%, on imports from Canada and Mexico starting February 1.

Economists warn such tariffs would raise prices for U.S. consumers.

  • @BastingChemina@slrpnk.net
    18•4 months ago

    Canada is avoiding Trump’s tariffs by not becoming a state.

    They are not paying the tariffs, american people do. So by joining the US they would start paying all the tariffs that Trump is putting on China’s products, European products …

    • @ikidd@lemmy.worldEnglish
      -9•4 months ago

      Why do people think that happens? It does not happen. 90% of the tariffs will be absorbed by Canadian companies trying to keep up sales to the US because there’s nowhere else to go, and even if they sell elsewhere, it’ll be discounted that much to other countries because of the general laws of supply and demand.

      The only way, and it’s one that we have nothing in place to effect, is to mark prices as of the tariff date and to enact an export tariff for the amount of the sale under the price set point. That would highly discourage discounting sales and pretty much just cut them off since, in the case of products made or produced in the US, it would be competing with local products at 125% of the local price.