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Donald Trump tells Canada to become a state to avoid his tariffs (www.huffpost.com)
submitted 2 years ago by to c/worldnews@lemmy.ml
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cross-posted from: https://lemmy.world/post/24657192

Summary

In a virtual speech at the World Economic Forum, Trump suggested Canada could become a U.S. state to avoid his proposed tariffs on imports.

The remark elicited gasps from the audience.

Trump claimed the U.S. does not need Canadian lumber, energy, or vehicles, vastly overstating the trade deficit between the two nations.

He reiterated his intention to impose tariffs, potentially as high as 25%, on imports from Canada and Mexico starting February 1.

Economists warn such tariffs would raise prices for U.S. consumers.

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[–] 16 points 2 years ago (2 children)

It potentially reduces exports from Canada to the US, hurting our economy. Nobody wins

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  • [–] 24 points 2 years ago* (1 child)

    Canada imports more from USA than it exports to USA. A trade war that decreases exports would hurt USA more than Canada.

    The largest exports from USA to Canada are cars and trucks. (Finished products) The largest exports from Canada to USA are minerals, fuels and pulp. (Raw material)

    This puts USA at a disadvantage in a tariff game, because it's a lot easier for Canada to replace American cars with Asian or European cars, than it is for USA to replace the variety of ressources that Canada provides

    It's also a lot easier for Canada to find other customers for raw materials than it is to sell American cars on other continents.

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