Canada's Justin Trudeau announces retaliatory tariffs following Trump's executive order

[nova_ad_vitum@lemmy.ca]

As tariffs hurt the importing country, not the exporting country

They very obviously hurt both so long as there's any demand elasticity and especially when there are alternatives sources for the products .

[chaoticneutralczech@feddit.org]

Idk when the change is implemented but Google said it would show

• "Gulf of America" in the US
• "Gulf of Mexico" in Mexico
• Both names elsewhere

Nothing has changed for Czech users yet.

[wewbull@feddit.uk]

So, is Canada going to import what it gets from the US (it's only geographic neighbour) from elsewhere?

If the answer is "no, not without at least a 26% jump in cost" then the tariff is a bad response.

[grammarpolice@lemmy.world]

Explain how demand elasticity affects both countries please. I expect Trump uses these tariffs as a scare tactic for countries who depend greatly on exports to America, but i don't know how elasticity of demand plays in.

[grammarpolice@lemmy.world]

Just get the Jan 6 rioters on call, I'm sure they'd be happy to help with that

[punnyname@lemmy.world]

Not with their God King in the building.

[punnyname@lemmy.world]

Correct. Fascist 47 is a terrible human.

[whoisearth@lemmy.ca]

If you heard the speech the fact that they are giving time for the full set of Tariffs mean we have a small set (booze) we are willing to cut right away. Ie. Jack Daniels is no longer on store shelves. Orange juice is no longer on store shelves.

The extra time is for Canadian companies to find alternative (non-American) suppliers. They may be more to import due to distance/time but less impact on tariffs and potentially still more cost at the end for consumers but at the same time not American goods.

The intention is to ween us off your teat.

I don't think Americans realize that long term this is not good for you. Once new trade routes come in, it's going to be hard for you to get those partnerships back on account of you showing yourselves as a horrible business partner.

Canada will hurt in the short term but we will be stronger in the long run.

The only thing I'm worried about now is a full on American invasion and I fear that's on the table.

[dwalin@lemmy.world]

As an European i'll be expecting a visit to Canada from our representatives in order start the negociations on a deal that bennefits both of us

[whoisearth@lemmy.ca]

Would you rather us bend over and take it?

Fuck America. You asked for this. Reap what you sowed. Unlike your trifling ass back home we are unified here. You have made us stronger as a nation.

[whats_all_this_then@lemmy.world]

Dunno enough to know how well it'd work but I read a comment here the other day saying Canada and Mexico shouldn't retaliate with tariffs but instead opt out of their side of NAFTA and just not uphold US IP laws. They could individually or together invest heavily into forming companies that provide cheaper alternatives to whatever crap US companies pull for recurring revenue. Stuff like legally mandating that phones have a local-made app store pre-installed, subsidizing or outright investing in really well made and well maintained jailbreaks, third party repairs, and third party spare parts for stuff like John Deere products, Apple produccts, Tesla products...pretty much eat the tariffs on exports to the US, don't retaliate with own tariffs so prices locally don't go up, but hurt US profits everywhere else by becoming a provider of cheaper but still reliable (probably more reliable tbh) alternatives to anything US.

I'm kinda disappointed that's not what's happening rn

[whoisearth@lemmy.ca]

Yup they're now officially standing by.

[choco_crispies@lemmy.ml]

Tariffs will drive the prices upward but consumers will still be compelled to make those purchases for a time, which is to say that they will just bite the cost because the alternative is less desirable. This demonstrates a lack of equilibrium between price and demand. In a non-elastic scenario, the rise in price would directly correlate to a decrease in demand.

[pyre@lemmy.world]

very nice

[wewbull@feddit.uk]

Canadians pay Canadian tariffs on US imports. Trump is fucking America already with his tariffs. Canada mirroring them gives Trump what he wants.

[eagle0110@lemmy.world]

Everything you described takes half a decade minimal to be put into reality. You are literally describing building a whole frocking industry. And we all know how fast you can establish industries in North America.

When a literal bully is stabbing you, you do NOT wait for half a decade to do something about that.

Instead, retaliatory tariffs are pretty much the only thing they can do instantly as a government.

[whoisearth@lemmy.ca]

Please find an adult and ask them to explain general economics to you and in the meantime look up the impact of tariffs and trade wars.

Canada doing nothing gives Trump what he wants. Fighting back with our own Tariffs is the next step. Make no mistake this is a war. Not all war is fought with guns.

[t00l_shed@lemmy.world]

We should do both. And very targeted tarrifs, not stupid broad tarrifs

[notsteve_@lemmy.ca]

I'm about ready to ngl

[notsteve_@lemmy.ca]

It annoys me so much. It hasn't updated yet in Canada but "Gulf of America" is just wrong for any country outside of the US. Why show me Gulf of America when that's not a recognised name for my own or any other country besides the USA.