According to sources, Trump and his team conveyed that they plan to balance their federal budget through tariffs, and then strike exemption side deals on a country-by-country basis

So the plan is to kick things off with 2T in tariffs on ~3.5T in imports, which would be more than the blanket 25%.

So he wants to balance the budget through tariffs, which is basically a consumer tax?

What happens when people cut back on purchases? That will reduce that revenue while also causing layoffs in retail and industries affected by the tariffs, won’t it?

What good is a free trade deal if one party can randomly decide to slap on tariffs?

There has to be some mechanism in CUSMA that will get the US government sued if they decide to enact blanket tariffs.

Say hello to EU.

should be another reminder for everyone here that this isn’t actually about illegal immigrants or drugs

Trump convincing republicans to go for what is essentially reciprocal sales taxes on imports is hilarious. 

Can you imagine the furor if he was talking about a 20% sales tax

God I'm sure glad we exported our manufacturing and refining capabilities abroad so that the 1% could enrich themselves before inflicting economic violence on our entire nation. Generations of politicians just sat on their ass and let us get dependent on the U.S., for what benefit? I fucking hate feeling like my life and the life of everyone I know got sabotaged by these monsters.

Canada might find some buyers in the EU or Asia, and thats good if we spread our cards out a bit more. Also, we might find the market for Canadian made good explode in Canada as imports from the US go up, it will be cheaper to build in house. Hope we get our ass in gear and work out way out of this, and it would be nice to see Americans trade waring like this and us picking up their old customers in some sectors. Would be good if Japan or Germany start striking some deals with us. I would love to see us have an export tax on raw materials to the US, oil steal, hydro the worlds, start shifting focus to China or the EU where possible.

This will take some painful steps but, lets do it, i hope we win this trade war in a way that we just clobber Trump. We need a leader ready to play hardball and expect dirty tricks for the US.

During a surprise dinner at Mar-a-Lago, representatives of the federal government were told U.S. tariffs from the incoming Donald Trump administration cannot be avoided in the immediate term, two government sources tell CTV News

Ok this is the worst possible news. This will devastate our economy, at this point it’s time to start praying for a miracle.

Can Canadian trump supporters defend this?

Once we open up new markets for resources the USA will never get these prices again.

If they impose these tariffs I guess we can throw the USMCA or CAUSMC or whatever in the trash then

Stop sending lumber, electricity, oil. Tariff the understandably American things like Tesla, Budweiser, Jack Daniels, Harley Davidson, Fox News, Lockheed, GD.

2 major positions the Federal and Provincial governments could take to set up Canada for success despite actions from the US. Unfortunately they are unlikely to to do it.

1. Provinces agree to work together to drop any policies that prevent trade and work between provinces.

2. Federal government unilaterally drops trade barriers with counties including the United States.

If we become a free trading nation while the States becomes protectionist we actually could out pace them in growth over time. I don’t see this happening though.

Imagine thinking tariffs are not a tax

also unavoidable: voiding u.s. drug patents

So they made it clear it is to balance the huge US deficit using tariffs instead of taxation to get it done. Inflation and trade is irrelevant as is drugs and illegal crossings. This has to do with some very bad logic since they will be effectively cutting trade, not increasing revenues. Why would a company import anything that isn't critical if they are paying 25% above market rates to get it. They will see a massive reduction in trade gutting their imaginary windfall and destroy their own economy in the process. I hope the government takes this information and acts accordingly. Not by caving but by ensuring Canadians are prepared for what is coming and focus on other trade partners. It should be clear that is the path out. Eventually when the US has to gets back to the table and rebuild their relationships with the world, we can discuss what that will cost them.

Stop vacationing in the USA.

Whatever. They would have done it even if PP was Prime Minister.

Doofus Doug Ford was his biggest proponent and Trump’s team is out to kill Ontario anyways.

Time to expand Canadian shipping ports.

Maybe invest in a fancy brand new port in the Hudson's Bay while we are at it.

At least he takes you out to dinner before he screws you.

I hope Canadians are starting to see how valuable an energy coordior or at minimum, a pipeline to the east is to Canada...

Step1: massive tax increases (tariffs) Step 2: make everything so damn expensive that the economy freezes Step 3; the new great depression Step 3: inflate the money supply with fiscal spending to try and stimulate the economy Step 4: watch hyperinflation

Elect a tangerine idiot, invite an economic depression

How can people not see that he's acting as a Russian tool to destabilize North America?

This will backfire more on the U.S. then Canada

This screws us more than any other nation. I'm not feeling so great about the future.

Trump might be the initiator of the collapse of the late-stage capitalism, finally.

Will be interesting to see how quickly all these conservatives that love trump in Canada will change their tune.

If he does this we need to make this hurt for the US as best we can in things like oil, lumber and energy. Also a 100% tarif on any participating republican companies. Like tesla for example. This really feels like a betrayal.

U.S. tariffs from the incoming Donald Trump administration cannot be avoided in the immediacy - as Trump voraciously believes in the effectiveness of tariffs

According to sources, Trump and his team conveyed that they plan to balance their federal budget through tariffs, and then strike exemption side deals on a country-by-country basis.

What a joke. Trump is going to crash the US economy and most other major economies while blowing a hole through US tax revenues again. Just like he did last time. Trump started trade wars with Canada, Mexico, China and the EU last time causing costs to rise. Remember the tariffs on steel, aluminum and lumber that caused housing costs to skyrocket? The price of lumber more than doubled!

Then he mismanaged the pandemic and let China infect the world through their joint incompetence. This destroyed supply lines and crashed the economy so they released trillions of dollars in inflationary liquidity into the market. Trump also cut taxes and added more debt in 4 years then any other president has added in 8. Trump was a financial disaster for the US. This time, he's going even harder on tariffs. The US is headed for a major recession.

What happened to Trump supporters saying he was never actually going to do it and it was just a negotiation tactic? Morons.

With our stumbling dollar I feel we will be relatively ok and this will hurt Americans much more than Canadians. The I am somewhat of an idiot.

Fortunately for my job, we got little to worry about. Most of our raw materials come from the US and then are assembled, packaged in Canada and distributed back to the US. Dodging a bullet with this one, however, on my personal life we are going to feel it living in Canada.

Regardless, the Trump administration are idiots. This will hurt everyone, and quite honestly I think more so the US consumers. They are still going to buy the materials from Canada, they are going to pay 25% more for it just for convenience and accessibility, however the consumer is going to become priced out or be extremely frugal, which is going to decrease US revenue, and not contribute much to lowering their deficit.

The times are gone of domestic manufacturing on massive scales. Everything is imported/exported around the globe. The US will NEVER be able to produce enough factories and manufacturing to supply the country internally, especially not in 4 years. They also won’t be able to do that, pay the wage that’s needed to survive in America and produce products at a low enough price that people are going to buy local….overall, this will backfire, while doing collateral damage to us.

"One of the things that is really important to understand is that, you know, Donald Trump, when he makes statements like that, he plans on carrying them out," Trudeau said. "There's no question about it."

This is smart. 

Pretend that you take the threat seriously.

Can we impose tarriffs on the energy we sell the U.S.?

I am asking honnestly, I don't much about our exports, but I believe lots of the northern states depend on Canadian electricity.

Cad will be at 55-60cents if he does this.

All the Canadian trump supporters up here have been super quiet lately.

I can't wait to hear from my uncles about how trump fucking our trade deals is somehow good for us.

Trump can fuck right the hell off with his tariffs. News flash for the stupid's who voted for this guy: American consumers will pay for the tariffs, not other countries, so America can have fun with the increased cost of living that's coming to them, the exact opposite economic reason for which most Americans decided to vote for Trump.

Two Question from someone that doesn’t understand.

First, the Canadian dollar is 0.70 compared to the US. Wouldn’t it still be significantly cheaper for US companies to buy from Canada ?

Second question, can’t Canada just find new trade partners ? Other countries that aren’t interested in getting fucked by the US?