As the US president imposes import taxes on three key trading partners, we examine potential repercussions
www.theguardian.com
When Trump put tariffs on Chinese imports last time he was in the White House, Beijing put tariffs on US imports, including soya beans and corn. The move ultimately hurt US farmers, who relied on business with China. Without the approval of Congress, Trump ended up bailing out farmers, whose export revenues dropped by at least $10bn (£8bn) after the tariffs were imposed.
The Council on Foreign Relations, a US thinktank, has since calculated that as much as 92% of the proceeds collected from the tariffs on Chinese imports were spent on payouts to farmers.
Its so exciting to be at the start of a golden age. Have you noticed prices going up yet or is it too early to notice ?
Trump is now saying that the notional money that he makes from tariffs will enable him to stop income tax. Delusional.
But if this is his only economic idea then the invasion of Greenland comes nearer as he will need a diversion.
My advice to the US is to stock up on toilet paper and tinned goods. It may help you get thru the coming years.
Meanwhile eggs are expensive.
Since 2003 I was weary of Chinas expansion, I knew that it would hurt America and
hurt Canada even more. Our nation was never going to compete with a massive low wage nation but Canadian businesses said "cool, we will also outsource and even import Chinese made goods into Canada and ship them off into America with the false premise of it being Canadian and make hand over fist via arbitrage."
I was viewed as an alien in my MBA class for suggesting women don't just need to focus on being CEOs, they could also be entrepreneurs.
Since 2005
I warned Canadian politicians at the highest level that we are decimating our relationship with America and we needed more value-add industries and freedom to allow the best and brightest to excel. If we didn't, I promised that in time, America would alter their view of us.
That was 20 full years ago and I've been speaking ever since to my own detriment. Trying to be a free citizen created by G-d
Since then I have done all I can to have my freedom so that my former whistleblowing wouldn't need to reach the highest levels of government in America, Europe and Japan.
Instead they twisted harder, now they are excited about stealing my home and leaving me homeless. A once dirt poor kid who was accepted into the #1 Business school in Canada for my MBA, nominated for awards at major corporations, forced back into my caste by the Creepy Ones.
These tariffs should not be a surprise. Harris would have hurt us just the same without tariffs as she would have funded their industries with trillions of dollars, decimating Canadas competiveness and driving companies to the U.S for the free handouts while more closely bankrupting America thus forcing heavy protectionism as well, as Biden employed.
Imagine if Taiwan, Japan, N Korea, Germany or even France were in the same geographical location Canada enjoys? Their GDP would be 3x what our is as they actually have home grown innovators and companies who compete. They reject the caste system, covert police-state and instead embrace their most ambitious, regardless of their humble beginnings.
This is really unfortunate and is why I have been screaming for America to decrease their debt for nearly 10 years. America is on the brink due to their debt
, they need to raise revenue while cutting taxes and regulations to compete. Did Canada, Mexico or others believe they weren't going to have to pay more due to the economic pressures the U.S are under?
What do I know? I'm just a dumb Canuck whose genesis originated in the lower caste...
