https://www.wsj.com/opinion/donald-trump-tariffs-canada-doug-ford-trade-war-ba0c6147
Trump is furious that Canada won’t take his tariffs lying down.
President Trump wanted a trade war with the world, and Americans are getting it, good and hard. Stock prices continued to decline on Tuesday amid the latest Canada-U.S. tariff tit-for-tat. By the end of the day the two sides were talking about a temporary truce, but who knows which side of the tariff bed Mr. Trump will wake up on Wednesday?
North Americans awakened Monday to the news that Ontario premier Doug Ford said he was raising the price of his province’s electricity exports to the U.S. by 25% in response to Mr. Trump’s on-and-off 25% tariffs on Canada. That’s a hit to consumers in the U.S. Midwest and Northeast.
Mr. Trump went ballistic, even by his standards. Canada “must immediately drop their Anti-American Farmer Tariff of 250% to 390% on various U.S. dairy products,” Mr. Trump said on Truth Social. He said he’d double his metals tariffs on Canada to 50%. And oh, “the only thing that makes sense is for Canada to become our cherished Fifty First State.”
As usual, Trump doesn't and does have points.
ReplyDeleteHe doesn't have a point - if he can throw 25% on everything coming from Canada, we can throw in 25% on the stuff we send.
But he's also right that there is tremendous protectionism in the agricultural sector to protect Canadian production.