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.

you are viewing a single comment's thread
view the rest of the comments

[–] refalo@programming.dev 3 points 1 day ago (1 children)

My understanding is that tariffs in general can apply to both imports and exports, on either side.

[–] Spacehooks@reddthat.com 9 points 1 day ago (1 children)

Well according to wiki you are right. I was on ever taught tax on imports in school. Taxing exports only works of there is one possible vendor and if there is not then the competition will just has to charge slightly less while expanding production.

Imagine if China , EU, and or japan be like here is 10% discount. Or better yet Trade alliance among countries who Trump charges on exports would be hillarious.

[–] bennieandthez@lemmygrad.ml 8 points 1 day ago (1 children)

Or better yet Trade alliance among countries who Trump charges on exports would be hillarious.

This is exactly what is happening, its the main reason of the rise of BRICS.

[–] Spacehooks@reddthat.com 2 points 21 hours ago

Well that will makes things more volatile among former friendly nations.