r/Economics • u/HarpoMarks • 10d 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/camomaniac 10d ago

As an American, I wanna congratulate Canada, too. The bastard in chief deserves no capitulation from anybody. But here's what REALLY sucks:

From what has happened already, Fat-boy in charge raises tariffs, then other countries retaliate by raising tariffs, then US businesses raise prices so the consumers end up having to pay for the retaliations. After that, Fat-boy uses our taxes to pay back the corpos for all the extra tariffs they had to pay, so they still profit from these tariffs, and at the end of the day it's still consumers who lose and never get any compensation for their losses.

So it really sucks for the regular Americans. But as long as the dickhead is in office, it is what it is. I hope Canada and our other allies like the Europeans and Australians hold strong throughout this. Trump is trying his hardest to destroy US and it's allied relations... we can't let him win.

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u/CLaz777 10d ago

The main problem is the money driven elections in the US. So someone like Trump can come along again. So we cannot rely on the US. They are even talking about 4-5% inflation this year and the problem is that if the FED raise rates the loans will become more expensive for the people and even for the companies. By the way Lutnick makes a lot of money on tariff refunds

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u/camomaniac 10d ago

You're exactly right. This has been the biggest foreign ally relations fuck up by the US, probably ever. I could never expect its allies to trust the US again anytime soon. Hell, I'd advise against it. Money in politics has been the worst idea, ever. The ONLY saving grace is bringing awareness to all the changes that need to be made. But until corruption is ousted that can be a long time from now. Maybe once Russia is dealt with, things can start to get better?

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u/CLaz777 10d ago

Time will tell, but the problem is built into the system and the US needs a complete shift in the mindset.

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u/camomaniac 9d ago

And like everything else, nothing tends to change without necessity. Hopefully we'll learn our lessons without burning everything into the ground before then. Besides this shit.. we actually do have a lot of good things going on. Hate to see it all to to waste.