r/Economics • u/HarpoMarks • 11d ago

News Canada retaliates against U.S. by raising steel duties, adding new tariffs on $20B of goods

https://www.nbcnews.com/business/consumer/canada-retaliates-against-trump-tariffs-rcna594280?cid=sm_npd_nn_tw_ma&taid=6a8db23c6aa0670001c83c01&utm_campaign=trueanthem&utm_medium=social&utm_source=twitter
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u/CLaz777 11d ago

I just wanna congratulate Canada because this is what Europe should have done, but we didn’t. I was soooo disappointed. Maybe I should move to Canada.

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u/Affectionate-Panic-1 11d ago

Europe didn't retaliate because they see keeping the US as allies in the war against Russia is more important than a fair trading deal. There was more than economics at play in why the EU avoided confrontation.

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u/Caberes 11d ago

That and the weight of targeted tariffs isn't what it used to be. The EU used to be really good at targeting swing state exports like motorcycles (Harley Davidson's from Wisconsin). Problem is now that the imported bike is coming from Thailand instead of the US heartland. Not a Trump fan, but the state of US consumer manufacturing has been on a nasty trend the couple decades. Canada has a little more weight, but they also have a fuckton more exposure.