The US will press ahead with steep tariffs on Canada and Mexico from Tuesday, Donald Trump has said, setting the stage for a trade war with his country’s two largest economic partners.

Hours before his administration was due to hit America’s closest neighbors with sweeping import duties, the US president claimed there was “no room left” for a deal to avoid their imposition. The announcement led to a sharp sell-off on Wall Street.

All Mexican exports to the US are set to face a levy of 25% under the plans. Most Canadian exports will face a 25% tariff, with energy products facing a 10% duty.

. . .

The action is set to prompt swift retaliation. “We’re ready,” said the Canadian foreign minister, Mélanie Joly.

MBFC
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  • qprimed@lemmy.ml
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    3 days ago

    “Tariffs are easy, they’re fast, they’re efficient, and they bring fairness,” Trump said. He described the levies as a “a powerful weapon” that other presidents had not used because “they were dishonest, stupid or paid off in some other form”.

    so. much. projection.

  • Phil_in_here@lemmy.ca
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    3 days ago

    “Singlehandedly stop drugs from entering our country!” pours gasoline over economy and global alliances

    “Okay, yeah, we can start working on that.”

    “Okay, I’ll give you 3 weeks.” does fuck all at own border

    “Well, that’s really not eno-”

    “Times up!” lights match “We’ll still take that oil and gas, though.”

  • fluxion@lemmy.world
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    3 days ago

    Ahh yes another day another instance of Trump personally fucking my 401k, investments, grocery bills, and edging my employer closer to layoff mode. Any time now his brilliant economic policies are gonna save America though!

  • thisorthatorwhatever@lemmy.world
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    3 days ago

    He dreams of cutting taxes for the rich, and paying for it with tariffs on Canada. It’s his only dream. He has no clue how to run an economy. He has been bankrupt several times.

  • xmunk@sh.itjust.works
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    3 days ago

    Hey America, get fucked. Your bald eagles come to Squamish for mating and we’re offering them all Canadian citizenship.

    Also, please note that individual Americans who oppose Trump are always appreciated…

    But yea, my household has dramatically severed ties with US companies and switched to consuming goods produced domestically or in Europe.

    • qprimed@lemmy.ml
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      3 days ago

      Hey America, get fucked.

      USA here, and oh boy… are we working on it!

      fare thee well, Canada. there are a ton of us over here seriously rooting for you.