- cross-posted to:
- world@lemmy.world
- news@beehaw.org
- cross-posted to:
- world@lemmy.world
- news@beehaw.org
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.
Us citizens pay tariff this doesn’t hurt Canadians. They should call bluff and say do 30%.
Canada will absorb most of the extra cost if we want to sell product to the US.
It potentially reduces exports from Canada to the US, hurting our economy. Nobody wins
We have a lot of resources. Ya our shit will get more expensive, but he’s gonna fuck his own country doing this. Canada will survive.
My understanding is that tariffs in general can apply to both imports and exports, on either side.
Well according to wiki you are right. I was on ever taught tax on imports in school. Taxing exports only works of there is one possible vendor and if there is not then the competition will just has to charge slightly less while expanding production.
Imagine if China , EU, and or japan be like here is 10% discount. Or better yet Trade alliance among countries who Trump charges on exports would be hillarious.