President Trump has delivered on another campaign promise to counter the trade and tariff imbalance with Canada and Mexico.
The Cannucks are not pleased and they’ve flooded social media with their wailing and gnashing of teeth. Their currency just fell to the lowest level since 2020.
Michael Seifert breaks down the unfair practices that have been inflicted on America for decades.
More here: https://x.com/realmichaelseif/status/1886105977642004844
This is why President Trump is increasing import tariffs:
Canadian Shopify CEO slams Trudeau:
The CEO of Canada’s second-largest publicly traded company says Canadians want their government to do all the things that President Trump is demanding — and slammed outgoing Prime Minister Justin Trudeau for not preventing the trade war.
Trump, 78, on Saturday, signed an executive order to slap 25% across-the-board tariffs on America’s northern neighbor, citing its failure to meet his demands on helping crack the fentanyl and illegal immigration trade.
“Canada thrives when it works with America together. Win by helping America win. Trump believes that Canada has not held its side of the bargain,” Tobi Lutke, who co-founded Shopify, wrote on X.
…….The tariffs are poised to hit Canada especially hard because roughly 75% of its exports go to the US while only about 13% of American exports go to Canada.
Trump’s massive tariff against Canada also includes a lower 10% tariff rate on energy resources. For context, in 2023, Canadian crude oil exports accounted for about 24% of US refinery production, according to data from the Energy Information Administration.
Most people don’t realize the amount of tariffs Canada places on the US. It’s insane. Everything is tariffed and the percentages are outrageous. Americans are getting completely ripped off by the Canadians.
The numbers of illegals crossing into the U.S. from Canada has increased as well. Canada is doing nothing to stop them.
He’s increasing the tariffs on China as well, but we shouldn’t even be doing business with a communist totalitarian regime.
Bottom line: The United States is the largest source of foreign direct investment for Canada. Canada is largely dependent on our market.
This is not going to end well for the Cannucks.
The Cannucks got used to rolling over America with the trade/tariff imbalance and now they’re pissed because they will have to pay their fair share. They’re also going to have to deal with the illegals being stopped at our borders when they try to enter from Canada. Tough shit.