Trump warns Canada, Mexico tariffs are coming on Saturday

[notsteve_@lemmy.ca]

And Canada's and we didn't even get a chance to vote against this guy

[buzz86us@lemmy.world]

So like how does he do this without screwing over 90% of our automotive companies?
I thought he was trying to....
Lower

Prices

[avidamoeba@lemmy.ca]

Supply management (economic planning) baby!

[buzz86us@lemmy.world]

I wonder how long before US automotive factories in Mexico get nationalized, and pump out BYDs.

[sulaymanf@lemmy.world]

Musk said there would be temporary pain. Trump is willing to have others suffer to get what he wants.

[buzz86us@lemmy.world]

Except his every policy will make prices higher.

[sulaymanf@lemmy.world]

Canada and Mexico are reportedly at a total loss because they have no idea what Trump even wants. It’s being reported that Trump wants to slap actual tariffs on someone just to show he means business.

[sulaymanf@lemmy.world]

Well I mean you need a few survivors to warn the rest of humanity right?

[bne@lemmy.blahaj.zone]

That's the neat thing, he doesn't!

[mutilationwave@lemmy.world]

Right. Lower prices are what he says he wants, not what he actually wants. Never forget, nearly everything he says is a lie.

[cethin@lemmy.zip]

Bad news. Cost of petroleum increasing probably increases the cost of electricity too. Energy is energy. If cost of one source of energy increases then other sources also increase price.

It probably won't be as bad as gas prices, but it's probably all going up.

[mutilationwave@lemmy.world]

He said it pretty often in his first term. The commenter you replied to has it right. "Nobody knew..." translates directly to "I just found out"

[floofloof@lemmy.ca]

The United States is one of the world’s largest oil producers, producing enough crude oil for domestic consumption and exporting millions of barrels daily. In 2023, it exported just over 10 million barrels per day, or b/d, of petroleum to 173 countries and three US territories.

Yet, the US also imports roughly 8 million b/d, mostly heavy crude,60% of which comes from Canada, up from 33% in 2013. US oil refining capacity stood at 18.4 million barrels per day (b/d) as of Jan. 1, 2024. This may seem counterintuitive, but there are several reasons why the US still relies on imports.

That says that 60% of the oil the USA imports comes from Camada, not that the USA imports 60% of its oil from Canada.

[hellsbelle@sh.itjust.works]

The USMCA was signed by Trump in 2018 (revised version signed in 2019). Implementation didn't occure until 2020.

https://en.m.wikipedia.org/wiki/United_States–Mexico–Canada_Agreement

[flyingsquid@lemmy.world]

Sorry... what's the difference? Both are about how much of the oil the U.S. imports comes from Canada.

[chuck@lemmy.ca]

This is exactly what we need to be looking at, that and patents, DMCA.

I also hope we latch on to EU directives and force companies to have proper GDPR like requests

[chuck@lemmy.ca]

I lost track isn't Canada a reliable exporter of medical isotopes too?

[dead_or_alive@lemmy.world]

If Trump does raise tariffs across the board on Canada and Mexico we will have stagflation well within 6 months. There will be nothing the Fed can do to stop it as this is not market driven. There is no way they can even pretend wages can keep up with a sudden artificial 25% price increase.

[spacehooks@reddthat.com]

I actually thought he was going to declare usa bankrupt 1st time as a strategy. Now I realize if it happens it was not 5d chess.

[thomascrappersghost@feddit.uk]

As a non-USA person, I was under the impression he thinks it will punish foreign companies and bring jobs back to USA??