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Canada is imposing 50% retaliatory tariffs after US-Canada talks broke down. We’ll see who can take the most pain: the US or Canada 🎥

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Bloomberg Opinion

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13,049 Aufrufe • vor 17 Tagen •via X (Twitter)

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Tariffs 101: Tariffs are not paid by countries. Canada does not pay them to the US. Likewise, the US does not pay them to Canada. The importer from that country imposing the tariffs, pays it. For example, if Trump imposes 50% tariffs on trucks made by GM, but GM made them in Canada. GM is paying $50K in tariffs. Not Canada. And that $50K extra in tariffs, is ultimately paid by the consumer. Ultimately, it's a tax paid by businesses, passed down to the consumer of the country that imposed the tariffs. Likewise, Canada imposing tariffs on the US, only hurts Canadian customers. Countertariffs are done strategically, to prevent the flight of manufacturing, from Canada, to the US. In the end, during trade wars like this, consumers always end up paying the price.
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Tariffs 101: Tariffs are not paid by countries. Canada does not pay them to the US. Likewise, the US does not pay them to Canada. The importer from that country imposing the tariffs, pays it. For example, if Trump imposes 50% tariffs on trucks made by GM, but GM made them in Canada. GM is paying $50K in tariffs. Not Canada. And that $50K extra in tariffs, is ultimately paid by the consumer. Ultimately, it's a tax paid by businesses, passed down to the consumer of the country that imposed the tariffs. Likewise, Canada imposing tariffs on the US, only hurts Canadian customers. Countertariffs are done strategically, to prevent the flight of manufacturing, from Canada, to the US. In the end, during trade wars like this, consumers always end up paying the price.

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‼️ MAJOR BREAKING: trade talks have ended with Canada & the US. Canada is now facing 50% tariffs. Canada is now stating they will match dollar for dollar tariffs & countries have now in effect, declared economic warfare on each other.
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Canada has suspended trade talks with the US after negotiations collapsed, with Trump imposing 50% tariffs on about $20bn of Canadian goods and Ottawa vowing dollar-for-dollar retaliation. Al Jazeera’s Urooba Jamal explains.

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BREAKING: the US is not happy about Chinese EVs into Canada. Scott Bessent, the US Secretary of the Treasury, testified that if Canada, promised zero tariffs on anything American, the US would still keep their tariffs on Canada because of the Chinese EVs.
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Canadian Finance Minister François-Philippe Champagne: "Canada will match the US tariffs dollar for dollar, rate for rate. Effective Sept 8, Canada will impose counter-tariffs of up to 15, 25, or 50 percent on $27.6 billion of imports from the US."

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Canadian Prime Minister Mark Carney announces that Canada will be DROPPING their retaliatory tariffs against the US and removing tariffs on US goods covered by existing trade deals.
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Canadian Prime Minister Mark Carney announces that Canada will be DROPPING their retaliatory tariffs against the US and removing tariffs on US goods covered by existing trade deals.

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Canada just announced retaliatory tariffs on about seven hundred American products. 🇨🇦 🇺🇸 A closer look at the actual economics reveals that this will ends up hurting Canada more. Canada actually imports more from the US than it exports. The US simply has far more room to find other buyers.
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Canada just announced retaliatory tariffs on about seven hundred American products. 🇨🇦 🇺🇸 A closer look at the actual economics reveals that this will ends up hurting Canada more. Canada actually imports more from the US than it exports. The US simply has far more room to find other buyers.

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Liberals completely caved to the US during the negotiations‼️ Canada wants: > no 50% tariffs on August 19 > sectoral tariff relief; steel, aluminum > public announcement for CUSMA review talks to start Canada offerring: > changes to dairy quotas > end provincial booze ban > remove retaliatory auto tariffs > cooperation on defense, energy and critical minerals Mark Carney went from elbows up to down on the knees.
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Liberals completely caved to the US during the negotiations‼️ Canada wants: > no 50% tariffs on August 19 > sectoral tariff relief; steel, aluminum > public announcement for CUSMA review talks to start Canada offerring: > changes to dairy quotas > end provincial booze ban > remove retaliatory auto tariffs > cooperation on defense, energy and critical minerals Mark Carney went from elbows up to down on the knees.

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BREAKING: Trump just reverted back to 51st State comments after trade talks broke down. Trump refuses to have discussions as long as the DST exists & will let Canada know the tariffs/the-cost-of-doing-business with the US, next week.
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#WATCH: Melanie Joly says Canada and China are the only countries to impose retaliatory tariffs against the US. According to her, being like China is good and being like the US is bad. Is Melanie Joly retarded?
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The dumbest thing Canada has done to their citizens is engaging in a trade war with America and then convince their citizens that they can win it. 😂 All Canada had to do is remove the tariffs they already had on US goods. The US literally just put reciprocal tariffs on them and Canada continues to act like it’s completely unjustified 🙄
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The dumbest thing Canada has done to their citizens is engaging in a trade war with America and then convince their citizens that they can win it. 😂 All Canada had to do is remove the tariffs they already had on US goods. The US literally just put reciprocal tariffs on them and Canada continues to act like it’s completely unjustified 🙄

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