Canada’s trade surplus with US is large. Canada better find a way to lower it by lowerimg the tarrifs or it will not be able.to withstand the US tarrifs.
All this talk about.stability and growth in Canada will evaporate quickly. US will find a way to get its own timber and energy.
US is running $1T deficits across the globe. This will come down drastically by fall
The Second SMiC Great Depression and Conservative Voter Kill-off. All within 9 years. Whoda thunk THAT ???
Maybe a lesson taken from the early 80s: flush the economy down the drain, then stop flushing, and everyone hails the recovery as “a supply side economic miracle”…because the mob has the memory of a gnat.
Steve
The problem with this type of thinking is that either way the US is a loser. If you understand how trade works it is easy to see why.
Let’s say I can make a widget for $100. You can make the same widget for $90. If you sell the widget to me for $95 we are both $5 richer. That is why trade exists.
Canada’s willingness to sell us cheap aluminum is awesome for the United States. The cheap aluminum goes into everything from US made airplanes to washing machines and brings down the prices of all those products, which means we all enjoy a higher standard of living because of it.
Putin understands this which is why he is supportive of these tariffs.
So why does every country impose massive tariffs on US produced goods to protect their own industry ?
I would.love to have trade between US and Canada to increase 5x but either ALL tariffs should be dropped or have same reciprocal.tariffs between the two countries.
They don’t. All members of the WTO (which includes the US) and its predecessor GATT have agreed to same tariffs with all other WTO members.
There some exceptions. For example, countries can impose tariffs as anti-dumping measures. And countries can form free trade groups (EU, USMCA). But otherwise no. No WTO country (which is most countries) has “massive tariffs” on US goods that are different than any other country.
By the way, GATT was a creation of the United States as a world security measure post-WWII. We all owe a great debt of gratitude to Sec. of State Cordell Hull and other visionary leaders who understood the importance of trade in a peaceful world.
I don’t know why we keep trying. You can’t learn him nuthin’. He’s got the Fox/Putin/Trump playbook and he believes every word.
The chart is not through 2024.
I suspect that a chart through 2025 will be more informative.
Give lots of funds previously spent on now defunct government-provided services to private companies.
Double benefit: 1. deserving JCs are rewarded 2. the new GDP figure, initially depressed from not counting government expenditure, will shoot up miraculously.
Oh lordy, SuisseBear has, no doubt out of necessity, learned our barbarous of JC’s and “miraculous” accounting slight-of-hand delivered recovery!
Hopefully the Europeans do not lock him up in quarantine….
Thank you FB, I‘ll watch my back and have a go at correct spelling next 
As a citizen of one such country, I can tell you:
How to get around import substitution? Buy the bureaucrats and import CKDs.
Did you know that decades ago US oil companies operating in Venezuela practiced US style segregation? Hard to love such entities.
The Captain
He just called off the tariffs against the US.
Trump and Canada are going into renegotiate Nafta. Mexico no doubt will join them.
I doubt China gets off the hook.
Ya know none of that really matters since the Conservative Party of Canada is far to the left of our own Republican party.
The Conservative Party is a lot closer to Clinton and even Bush (they even use the the phrase “compassionate social policy” in the very first line of their Founding Principles) than they are to Trumplicans.
We would be so blessed to have the Canadian Conservative Party in charge in the US today.
From today:
For those who are following this, rather than shut down Canadian automobile manufacturing Ontario has decided to rescind its electricity tariff.
President Donald Trump’s threat on Tuesday to double his planned tariffs on steel and aluminum from 25% to 50% for Canada led the provincial government of Ontario to suspend its planned surcharges on electricity sold to the United States.
DB2
Or you could say the United States backed down because Canada decided not to shut off the power.
Interesting difference of opinion on this. Ford says Lutnick called him. TIG says Ford surrendered first. There is supposed to be a meeting between Ford and Lutnick Thursday. Either way, it’s probably better that the adults talk face to face, without the BiC in the room.
Steve
So what is the difference of opinion? Lutnick calls up, says do you really want to make your automobiles too expensive to sell and Ford says (to channel Emily Litella) “Never mind.”
DB2
It would be informative if you INCLUDE the more informative chart here! The one I posted was the only one I could readily find.
Hmmm. GDP per capita change, 2008 to 2009:
Canada - 12.5% US - 6.4%
When the U.S. sneezes, Canada catches a cold.
DB2