I thought I start a new thread. Trump has been threatening tariffs for a while and now it is reality. What his true motives are are unknown but I suspect it might be personal. Having said that, see why I hate the government because a lot of the problems in the world are caused by the government. I want to discuss Canada's response which is stupid. At the end it is the working class that will pay the biggest price. Canada plans to put tariffs on all goods from the US. They want to fight a war with a country that is ten times the size economically. The US is much less reliant on Canada, American exporters will be affected much less, their dollar also has more value. Remember tariffs are a tax and is no good for anyone but the government. The US government and the Canadian government will raise lots of revenue via tariffs but it is the working class that will be impoverished especially due to the cost of living crisis. Not only that Canada will go into a recession. Businesses rely heavily on exports to the US, expect huge job losses. Americans will also pay the price as they will experience a big sticker shock. Many things that Americans buy from Canada.
Another dangerous thing that Canada plans to do to adding tariffs, Canada plans to spend and dish out social benefits to businesses affected, the spending will be similar to pandemic level spending. This is the stupidest thing to do. Initially it will help, but the long term impacts will be disastrous especially for the working class. See even after two years and we still got so much inflation due to covid spending. Anyone that really understands economics, you cannot tax yourself to prosperity. All this money printing will cause inflation like we never seen before.
What Canada should do instead, secure the border, stop the flow of drugs, deport all illegal immigrants, shut down immigration for several years. Continue to negotiate with the US and end dairy supply management. Canada must diversify, they need to be less dependent on the US. Start exporting to other countries and begin to import products from other countries instead, in a nutshell find alternative markets. To make the country more productive, reduce taxes, reduce capital gains taxes, reduce regulations to make investment more attractive, remove climate change nonsense policies that make it hard to use our natural resources, Canada has so much oil think of how much of a boost to the Canadian economy it will be, scrap the carbon tax and do not replace it with something else.
Another dangerous thing that Canada plans to do to adding tariffs, Canada plans to spend and dish out social benefits to businesses affected, the spending will be similar to pandemic level spending. This is the stupidest thing to do. Initially it will help, but the long term impacts will be disastrous especially for the working class. See even after two years and we still got so much inflation due to covid spending. Anyone that really understands economics, you cannot tax yourself to prosperity. All this money printing will cause inflation like we never seen before.
What Canada should do instead, secure the border, stop the flow of drugs, deport all illegal immigrants, shut down immigration for several years. Continue to negotiate with the US and end dairy supply management. Canada must diversify, they need to be less dependent on the US. Start exporting to other countries and begin to import products from other countries instead, in a nutshell find alternative markets. To make the country more productive, reduce taxes, reduce capital gains taxes, reduce regulations to make investment more attractive, remove climate change nonsense policies that make it hard to use our natural resources, Canada has so much oil think of how much of a boost to the Canadian economy it will be, scrap the carbon tax and do not replace it with something else.
