Trump tariffs: President to hit Canada, Mexico and China with tariffs
www.bbc.com
Canadian oil will be hit with a lower levy of 10%, likely by mid-February, President Trump says.

Summary

Trump announced that 25% tariffs on imports from Canada and Mexico will take effect on February 1, though a decision on including oil remains pending.

He justified the move by citing undocumented migration, fentanyl trafficking, and trade deficits.

Trump also hinted at new tariffs on China.

Canada and Mexico plan retaliatory measures while seeking to address U.S. concerns.

If oil imports are taxed, it could raise costs for businesses and consumers, potentially contradicting Trump’s pledge to reduce living expenses.

  • r0ertel@lemmy.worldEnglish
    2·
    4 hours ago

    Probably not, but it could open up a whole new set of business possibilities for creative Canadians. As the article points out, building repair kits for cars & tractors to sell world wide or selling printer ink bypass kits or mandating in country app stores.

    I’m no economist, but I don’t think this will offset the cost of the US tariffs to everyday Canadians, but it will steal profits from US companies who will cry to uncle trump that Canada’s stealing their lunch money. He may reconsider the tariffs.

    If I had my way, Canada would also make a statement that US copyright works are not copywritable in Canada, so copy & distribute to the world. Worst case, Canadians get free US music, movies & software. Best case, concerned US companies establish a presence in Canada and pay taxes, bring jobs, etc.