Summary
Canada is preparing to retaliate against Donald Trump’s proposed 25% tariffs on Canadian imports, which could trigger the largest trade war between the nations in decades.
Prime Minister Justin Trudeau promised counter-tariffs worth $37 billion, with potential for further measures, depending on Trump’s final order.
Canadian officials warn the tariffs could harm both economies, disrupting key sectors like automotive, energy, and agriculture.
Labor leaders expressed concerns over job losses and urged collaboration. Canada hopes to avoid tariffs by highlighting their mutual economic impact to U.S. lawmakers.
Eggs are going to be so cheap bro.
some car parts cross the border as parts en route to assembly plants, and then back again in fully-assembled vehicles.
Some cars cross the border 5 to 6 times while being assembled. Car prices are going to sky rocket.
I love long-discredited economic ideas making a comeback. As someone who studied Econ, it’s just peachy seeing people vote to be poorer because no one remembers the last 50 times this was tried and didn’t work.
Please, everyone read about the 1800s. I’m not completely hostile to crypto but so many crypto people are like, “What if we had a ‘free banking’ era? Surely, there’s no downside.” And you just slam your fist on the table and say “Please read one AP American history book. An actual textbook, not a YouTube video. I’m not a particle physicist because I watch PBS Space Time.”
Could you give me a quick summation of why a free banking era is a bad thing and how it relates to the 1800s?
Not trying to start an argument, just genuinely curious
So, essentially, every bank was issuing its own currency. But banks fail all the time. And no one knew what was real money. I’m saying this on Lemmy so I’m clearly for distributed things but cash money needs a central bank, for trust reasons. Gold is a stable element so it was that for centuries but it also led to horrible things. Like an entire hemisphere dying of smallpox.
So, long story short, after WWII. we settled on the U.S. dollar, which was then pegged to gold. Eventually, Nixon decided to unpeg it from gold. Which was fine because gold was arbitrary. We could have pegged it to any element on the periodic table. Bretton Woods is what to google to read more.
So, what is the dollar backed by now? Mostly the U.S. Navy and trust built over time. It’s not perfect. America has never defaulted on its debts and you can exchange dollars for local currency at any airport. The independence of the U.S. central bank is a big reason. But if you’re writing a contract for a global deal, you use dollars. If Argentina wants to buy something from Vietnam, the contract uses dollars.
In the 1800’s, there was no agreed upon currency. Banks made their own currencies. And it was a catastrophe.
Basically, if you go buy dope, the dope man isn’t taking foreign currency except maybe U.S. dollars. Euros are probably fine but the dope man isn’t taking shit that can’t be changed into local currency. He’s got bills to pay too.
American dollars have value for irrational reasons but they have proved the test of time.
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I think you’re right, and all of this is a side effect of mortgage-level paywalling of such education, and subsequent devaluing and even demonizing of it.
Resources like AP textbooks don’t just come up in peoples’ feeds. So they’re probably not even aware of them even if they were interested in the subject. And if they are, they gotta scrounge around eBay or those “library” sites.
Either way, it won’t reach the people who need to hear it most.
YouTube’s gotten really bad with commercial and ideological interests, but I do appreciate some creators out there making an effort to create digestible educational material.
But yes, the cryptobros phenomenon , or “DOGE” just being a re-vomit of failed Reagan/Thatcher-esque grifting policies, it’s all being pitched as something brand new and never done before.
Thanks for highlighting that I should check out 1800’s era “free banking” economics though. I’m really curious. :)
I feel like in every field right now, experts are facepalming all the ignorant decisions being made.
the principal hypothesis of the bitcoin experiment is that a central ledger and issuer is not actually necessary, and it’s still going strong
central banks are a hell of a lot better than the hodgepodge that arose in the 1800s, but it’s not proven that they will outlast an adequately designed decentralized implementation (whether it’s bitcoin or something else)
there are plenty of problems down the road for bitcoin, but there are arguably more for central banks. can a centralized currency survive the failure of its backing empire?
If central banks are gone, you can probably assume the data centers are too. Crypto relies on a stable society far more than dollars.
As an American surrounded by trump voting douchebags, I hope the economy crashes and people get a taste of what voting like a retard feels like.
when you have a certain world vue your frame of reference is this one. And you will prefer to hide reality for a very long time before admitting you made a poor decision. Worse admitting your point of view is not moral, or problematic.
All of this to say, people will not make a direct correlation between facts and their acts. They will find another plausible (for them) explanation.
I get the feeling many of these people are also preppers and actively yearn for a crash to justify spending their lives readying for it.
Also they’d get to live their dream: Actively competing to outlive their neighbors in a struggle for resources or something.
What’s america? Ill just know rusmerica. There is no America.
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The economy will be fine and probably flourish. Let us know when you wanna apologize :)
Apologize for what?
As an American, I want the world to punish us for our bullshit.
As an American, I really want to get the fuck out of here.
As a non-american, you’re doing about okay as everyone else.
For real. There is no escape unless you got a passport to a Scandinavian country. And then, it’s temporary. American nonsense is pervasive, it comes for everyone!
I’d say it’s time to leave the planet but I’m not a billionaire so… fuck me I guess.
as an american - yall need some laws against tech bullshit if you want to stop this
Do get out. I’m an Italian living in the UK and while no country is perfect, any first-world country is better than the US right now to live in. I can’t fathom the idea of dying for a miscarriage, or being forced to have a pregnancy I don’t want, or having my kids go through regular mass-shooting drills and actual mass shootings, or having to ration insulin, or going bankrupt for a cancer, or being shot by a neighbour, or having trials based on theatrics rather than law, or having for-profit prisons and for-profit hospitals, or not trusting our cops, or religious zealots making religion-based laws for everyone, or not having social services, sock leave, maternity and paternity leave, and so on and so on. Honestly our very imperfect countries are a social paradise compared to the USA.
That was my reaction exactly. “Good. Fuck us.”
Same
Take it all please, leave the rest of us able to fix what needs fixing.
Spank us, daddy! We’ve been so naughty…
name checks out
As another American, most of us want you to leave.
Repeated prisoners’ dilemma. They have to threaten and they have to add tariffs if the US does, anything else would be bad strategy
It’s not helped by the fact that Trump is corrupt and might have different winning conditions like “make Putin happy”, but that doesn’t change what Canada has to do.
Watching the US dollar
Grabs popcorn
Watching the already shit Canadian dollar…
looks up best noose rope
rope prices too high
Just in case…
Nah it’s joke.
I hope I live long enough to see the petrodollar die.
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That still doesn’t mean that what Trump is doing isn’t a dumb mistake
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*was a world currency
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Well yea, the clowns aren’t in charge yet. It won’t survive defaulting on our debt and systematically alienating all our allies.
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Have you traveled much?
The Orange Numbnuts will turn the USD into the worthless Ruble.
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My bad, I did not read your “edit” and I changed my response. All is good, carry on.
Gold, local currency, you dont need to be a rocket scientist to figure it out.
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…it’s an economic depression! hope you’re ready for your grocery bill to quadruple.
complete economic meltdown.
Aw man I seem to vaguely remember a short time when this wasn’t happening ever since I’ve been of working age, but it already feels so distant now…
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I think you’re taking it too lightly.
Sorry, there was no way I could find to phrase that without it reading sarcastically but sincerely, I wasn’t trying to downplay your insights!
I was being mildly sarcastic, but also totally serious, in that the birthright of Millenials and onward has been on the “and find out” end of eroding social safety nets and a generally declining civilization.
The idea of living in peace without constantly playing the “weather the next socioeconomic crisis” roguelike dice game is basically a foreign concept at this point. (To anybody who must work for a living.)
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“Oh wow, what a major recession! The worldwide economy sucks! There’s no jobs! Groceries are expensive! Bosses are kings! Wages are frozen!” (Which year, amirite?)
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“Wow these natural disasters are crazy! Look, the water catches fire! Woah, everyone’s full of plastic!”
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Hey that thing there was a steady supply of? Everybody’s freaking out and ready to fight over it.(Jobs, toilet paper, gasoline, twinkies, silicon, whatever.)
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“Hey everything was alright for a while! Workers are winning raises and sick days! But corpos complain and fire everybody to make line go up. Unemployment at record highs again. Here’s 42 ways to suck up to your boss and beg to keep your income.”
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“Haha wow we were SURE that plague was extinct.”
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"Rents skyrocketing. Nobody’s having children. People who want them are increasingly infertile. People who don’t, make it an entire political identity.
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(Insert the entirety of 2020-onward here)
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Everything is hyper competitive and a requires luck. The lucky want to tell you it’s all about Just Working Harder and “everything is actually better than it’s ever been!”
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Hey remember when the whole world went to war against fascists? Ha they’re seen as legitimate again because they’ve got memes now.
**TL;DR: **
I agree with you, it’s like watching the fall of the Soviet Union, except instead of The Party chanting “everything is fine keep working”, it’s mainly private interests. And nobody’s learned anything.
I’m trying to keep my head up lol…
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Comical.
groceries
Maybe for Americans where groceries are highly highly processed let alone majority imported.
Grabs locally grown whole foods including popcorn and gets healthier
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Better start prepping then so you don’t starve
You’ll think back at this moment when you’ve got a full stomach.
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I’d like them to focus on taking all the Americans who can contribute to the economy. I volunteer for tribute.
The problem is Canada doesn’t want a bunch of Americans.
But but, I have good job, no guns, no criminal record, aaaaaannnnndddddd I like hockey. So, maybe? Like a trial basis? 😅
Hmmm…are you from Michigan? Minnesota?
I will be from wherever you want me to be.
(whispers) “Go Knights, go!”
We don’t want their guns, the litigiousness, the exceptionalism and the arrogance, but other than that, we actually love Americans.
Tell me about it. Buddy of mine married an American, a texan, she’s fairly liberal as far as they go…
She just had a baby and was granted 18 months maternity leave, didn’t pay a dime, had an in home nurse due to complications. All for free.
We just talked about how she would prefer to have to pay her employer for health insurance rather than “Lose so much to these crazy taxes.”
If a liberal minded, young person thinks like this, how many of them think like this? Stay to the south. Please.
The weirdest thing is that their thinking is so short-term. Like it didn’t occur to her that those “crazy taxes” would also cover someone else’s maternity process?
Texans seem to think they’re top of the world and unstoppable “without those pesky taxes” until some family-illness or accident shows up and threatens to bankrupt them overnight.
It’s all very short sighted and to be honest I can’t blame them for their brainwashing most of the time.
They hear if places with 30, 40, 50% tax rates and are appalled but they don’t realize that the combined income of a nation can more than subsidise education, healthcare and so much more while still affording an amazing quality of life.
They call Europeans poor because they don’t own 50 acres and a McMansion with 3 mud crawlers in the garage.
My buddy’s wife just doesn’t understand how far out tax money goes and thinks our government is just as corrupt as hers.
Like it didn’t occur to her that those “crazy taxes” would also cover someone else’s maternity process
It occurs to them fine. They don’t care. American attitude is “fuck you, I’ve got mine.”
Nothing is for free, taxation pays for the medical care.
Significantly less so when you don’t have to worry about copays, premiums and other services.
Civilised countries ask everyone to chip in and take care of one another. Your kid’s booboo tomorrow and your neighbours cancer the next. All taken care of because we can. No medical poverty.
Kind of. Some of my best friends and all that… lots of fabulous expats in my little exurban community. Usually great people with american cultural baggage that encourages a kind of heroic individualism that is no big deal until you’re organizing in a group or the like. Not smug, more… socially entitled? It grates on local sensibilities sometimes, and it’s hard to explain unless you apply an analysis of colonialism. We recognize the colonizers more than the other way around.
Trump doesn’t understand that tarrifs go both ways.
It’s kind of amazing that his first priorty upon entering office is getting revenge and starting wars. What an incredible person and even more than that, an incredible leader. Amazing.
He doesn’t care if Americans get hurt or suffer his batshit policies. His moronic base will support him even if they’re suffering; they’ll blame it on the brown people.
Make smuggling contraband across the great lakes great again.
god imagine how much worse the gang violence will get when the canuck mafia starts mowing down border patrol agents.
Canadian Mafioso: “sorry” machine gun noises, screams
Good, Do it. Every country should do it. Make it fucking hurt.
I can’t wait to not be able to afford diapers since racist rednecks elected a clown. It’s like being held hostage on a train that’s headed for a brick wall. Trying to raise a family through this is so hard.
I’ve said this before, the EU should just invite Canada into the Union.
Nice idea, but it’s not a good thing to distance yourself from your closest trading partner…just ask the U.K.
I’m.not saying Canada has to take the offer, just that it’s something that should be on the table for trump to chew on.
I see your stance now. Down with that mate.
Canada would have to switch to European standards instead of US ones. Their companies wouldn’t be happy.
How do Canadian companies like tariffs? Just saying, it’s not impossible…
The Canadians can take the Blue States with them to the EU.
I’m not too sure they’d be such a great fit for the EU, culturally and socially. That sounds like we’d be taking in a Trojan horse.
So they’ll make Canadians pay import taxes on American goods. Do American exports to Canada compete with anyone on price? Surely it’s mainly availability of goods?
a lot of it is about choice. whether its by foreign culture brainwashing/advertisement spam, or canadian products just being less popular. people tend to buy american products because the retailers are locked into supplying them. if that were to change the average consumer might have to change brands for food, pay more for luxuries, and say goodbye to some specific things for a while until replacements are found, but when national security is on the line, canadians need to learn how to go cold turkey and abandon this dependence on an obviously untrustworthy, unreliable, and hostile United States.
an obviously untrustworthy, unreliable, and hostile United States.
Our countries were like best friends for so long. This makes me sad and angry. I feel like I’m gonna be this way for a while.
Our countries were like best friends for so long
If you guys could have not voted in a hostile garbage idiot whose idea of strength is going all bull in a China shop that friendship could have remained warn and fuzzy.
But now that you’ve gone and re-elected the guy who treated us like we’re a hostile enemy (and said as much 5-6 years ago), we don’t have much choice other than to take a few steps back and see other people.
.
I hope you guys can fix your issues, so we can feel like we can trust you again, but until then we have to do what’s right for ourselves.
I hope you guys can fix your issues, so we can feel like we can trust you again, but until then we have to do what’s right for ourselves.
In before the whining about National security starts again.
I dont get it. They say they dont want to pay others bills anymore, but when they start making moves to detatch themselves from the US (the only way to provide for themselves without leeching off the US is to detatch…). they cry about their national security, which is just another word for their hegemony.
America doesn’t want allies, America wants an empire of subservient vassal states who do nothing but buy their goods and services, and provide them raw materials and clients. this is not the behaivor of an ally, this is the behaivor of a hostile force. its just a shame that we’re dealing with multiple of those in the world at the same time. (Russia, China)
Yeah, I get it. I don’t know how to fix it because apparently we want this.
I just wish yall decided to have your meltdown -before- Russia turned fascist, got bold, and decided to start shooting wars.
Europe is asleep at the wheel, disarmed themselves a decade ago and are now playing catchup and sitting on their hands with a wait and see attitude. Its a very “Adults have left the room” feeling. New adults are going to have to step up.
At least the Russians are greedy fucking idiots or we’d all be in big trouble
Its a very “Adults have left the room” feeling.
And for a shocking number of EU nations: “Oh hey, your weird street-corner-arms-dealer cousin who hangs out on 4chan a lot says he wants to be ‘man of the house’ now, whaddya think?”
Do it. Isolate this evil shithole until it collapses. Please do it.
The US needs to be broken up the way the USSR was.
Didn’t that also give us Putin?
We have no choice-- we must give California to Canada to assuage their anger. A tariff war would be bad for business. Its a shame its come to this, but jobs might be at stake here.
While I love the idea, they’d never go for it. It would double their population instantly and completely upend their political system.
Well okay fine, just SoCal then!
…damn, your point still stands. ._.
