Sorry to hear that about your investments. I am hopeful Trump and friends can become more cautious in the near future. A lot can change in his first year. Not a good start.
Counterintuitive. Reaching… Could be that he is competing with himself? He could sell into the US 100% from Canada and competitors (your company) would increase prices to take the arbitrage of overall industry prices going up. Said differently, if your competitor suddenly has higher prices and the customer has very few substitutes available, would the entire industry raise prices?
Trump's ever-changing tariffs are devastating for U.S. farmers--they have to know what is going to happen BEFORE they plant their crops, not after. The tariffs are causing chaos and confusion. Trump tariffs creating 'state of emergency for America's farmers': Soybean farmer hits back
Trump's tariffs inspires Canadians . . . to boycott U.S. products. Nice work, President Lardass. Canadian backlash erupts over Trump’s tariffs. Trade war hits wine, spirits. What’s next?
Great business pissing off a country with 40 million potential customers. Who does such a thing? Maybe someone who is so bad they can bankrupt a casino?
We're all waiting for the big admission: "Who knew tariffs could be so complicated?" After Trump says that, he can officially leave the issue alone. He will need to be informed that billionaires in the U.S. are hurting before he takes that next step, or his popularity is below 10%.
This is what America gets for electing an ignorant fool to be president. But I don't see his approval rating dropping below about 25%. The cult will never leave him no matter what he does.
Some members of the cult are losing their jobs because of Trump--that's going to reduce Trump's support. I don't actually think Trump's support has to go below 25% for others to jump off the bandwagon. Trump is a con-man, and the con requires a near-majority of the population to believe it for him to have their support. Nearly half the country had a low enough opinion of him to vote for Harris, so Trump does not have to lose that much more for the stench of his lies to become obvious to the rest of them. Trump desperately needs some successes to bolster his approval rating, but all he has delivered is failures. Lying + failures = no bueno, and telling the truth does not seem to be an option for him.
This graphic from the Washington Post focusing on just in component in the Chevrolet Silverado says it all about the absurdity of Trump's tariffs on Canada and Mexico
Exactly. And this is true for most anything made with any amount of complexity and varied materials. Now try to imagine how tariffs don't crash everything.
This column by Tom Friedman of the NY Times says it all. Friedman quoting an Oxford economist whose work focuses on international supply chains: The old days, he added, “where you made wine and I made cheese, and you had everything you needed to make wine and I had everything I needed to make cheese and so we traded with each other — which made us both better off, as Adam Smith taught — those days are long gone.” Except in Trump’s head. Instead, there is a global web of commercial, manufacturing, services and trading “ecosystems,” explains Beinhocker. “There is an automobile ecosystem. There’s an A.I. ecosystem. There’s a smartphone ecosystem. There’s a drug development ecosystem. There is the chip-making ecosystem.” And the people, parts and knowledge that make up those ecosystems all move back and forth across many economies. As NPR noted in a recent story about the auto industry, “carmakers have built a vast, complicated supply chain that spans North America, with parts crossing back and forth across borders throughout the auto manufacturing process. … Some parts cross borders multiple times — like, say, a wire that is manufactured in the U.S., sent to Mexico to be bundled into a group of wires, and then back to the U.S. for installation into a bigger piece of a car, like a seat.” Opinion | Why Trump’s Bullying Is Going to Backfire
The one economist I know personally, I asked about if a recession has started. They said: when you hear tariffs think depression, not recession.
One would think that a POTUS would have sufficient knowledge of the economic history of the United States that he would be aware of the impact of Smoot Hawley Act of 1930. While the tariffs didn't cause the Great Depression they made the economic down turn far worse. The graph below says it all. By the way in the increase in the unemployment rate in 1937-38 wasn't attributable to the failure of FDR's New Deal programs contrary to some conservative narratives, it was the result of tightening by the Fed combined with the cessation of the New Deal programs.
