“Look, Mexico and Canada have never been good to us on trade,” he continued. “They’ve treated us very unfairly on trade, and we will be able to make that up very quickly because we don’t need the products that they have.”
Hahahahaha…oh god, comedy heaven!
…Wait, what do you mean this is not the onion?
The U.S. imports 60% of its oil from Canada.
They also import a shitload of electricity.
And pretty much anything made out of a tree.
Lots of metals as well, TD has an analysis if interested.
Canada and Mexico are the 2 largest trading partners. Cusma review is next year, didn’t he do the exact same thing going into the NAFTA 2.0 negotiations? Just wish we’d do a united front with Mexico on this.
Tariffs on oil and microchips, should make a nice dent in cost of living.
Yeap. Lot cheaper to live without a house payment!
Those Biden “I did that” sticker on gas pumps are gonna look a hell of a lot different in hindsight.
Couldn’t have picked a better week to switch to an electric car.
Bad news. Cost of petroleum increasing probably increases the cost of electricity too. Energy is energy. If cost of one source of energy increases then other sources also increase price.
It probably won’t be as bad as gas prices, but it’s probably all going up.
Good news, my EV holds about 5 dollars of electricity in it. Doubling the price isn’t going to be a huge deal. My partner’s civic holds ~ 48 dollars worth of gas. Doubling that is going to be painful.
Yeah, good point. Electric is just always going to be cheaper. Still, it doesn’t totally remove the effect of oil prices, which should be higher but not like this.
The United States is one of the world’s largest oil producers, producing enough crude oil for domestic consumption and exporting millions of barrels daily. In 2023, it exported just over 10 million barrels per day, or b/d, of petroleum to 173 countries and three US territories.
Yet, the US also imports roughly 8 million b/d, mostly heavy crude,60% of which comes from Canada, up from 33% in 2013. US oil refining capacity stood at 18.4 million barrels per day (b/d) as of Jan. 1, 2024. This may seem counterintuitive, but there are several reasons why the US still relies on imports.
That says that 60% of the oil the USA imports comes from Camada, not that the USA imports 60% of its oil from Canada.
Sorry… what’s the difference? Both are about how much of the oil the U.S. imports comes from Canada.
Maybe I’m not reading it the way others would. I would have understood “The US imports 60% of its oil from Canada” to mean that 60% of the oil the USA consumes comes from Canada, not 60% of the oil the USA imports. The oil consumed will include both domestically produced oil and imported oil.
I lost track isn’t Canada a reliable exporter of medical isotopes too?
Edit hmm seems the us imports alot of those https://healthimaging.com/topics/medical-imaging/molecular-imaging/why-us-still-dependent-foreign-medical-isotope-production
Someone should tell the talking Cheeto that we are a net exporter on oil and the majority we import is from Canada and Mexico. You know, the whole thing of there being different types of oil and the refineries in the US are set to refine foreign oil and not our own oil.
“Who knew oil was so complicated?”
Anytime he finds something out, “nobody knew”. Anytime he finds out he went too far, “no one knew it was this complicated”.
I assume this is referring to his “Who knew healthcare could be complicated” comment 8 years ago that we have yet to hear his plan for after promising one in two weeks
He said it pretty often in his first term. The commenter you replied to has it right. “Nobody knew…” translates directly to “I just found out”
Don’t worry, Alberta’s premier already has her head so far up Trump’s ass that she will never allow a retaliatory tariff on oil. I’m calling now that if the federal government pushes it through anyway, then Alberta will immediately try to leave Canada and join the US.
We’re gonna be fucked either way because the country will tear itself apart over a response while getting economically strangled.
Sort of. As I understand it, theres a pretty specific weight/grade/thickness of oil that can be refined into products. Most of the US oil is too thin. Most Canada oil is too thick. So we mix the two and viola!
It’d be nice if someone in Canada would build a refinery here. But then we’d have to import thin oil to mix with.
The Agreement between the United States of America, Mexico, and Canada (USMCA) was entered into force on July, 1, 2020, under the USMCA Implementation Act, H.R. 5430; Public Law 116-113. It replaces the North American Free Trade Agreement (NAFTA) which was in force from January 1, 1994 to June 30, 2020.
Hmm who was president in 2020?
https://www.cbp.gov/trade/priority-issues/trade-agreements/free-trade-agreements/USMCA/FAQs
I know, it’s crazy how his supporters don’t put two and two together. HE MADE THE TRADE DEAL HE’S SUPPOSEDLY GETTING SHAFTED ON!
The USMCA was signed by Trump in 2018 (revised version signed in 2019). Implementation didn’t occur until 2020.
https://en.m.wikipedia.org/wiki/United_States–Mexico–Canada_Agreement
Trump warns that he’s going to tank the US economy On Saturday
And Canada’s and we didn’t even get a chance to vote against this guy
Elected by people to lower groceries
Increases groceries
Then remove tariff and claim he lowered it.
Guys I hope people haven’t forgotten that the trump admin changed NAFTA when they were in previous term.
We are in this “unfair slump” because they can’t even do a deal right.
WTF was it, something something art of the deal or something?
He will tank the US just like he tanked all his businesses.
deleted by creator
He’s a Russian asset, and a traitor
That rhymes!
Trump is a ruzzian asset
And a traitor
Trump is a liquidator!
More like money launderer.
The bestest I hear.
I really hope Canada and Mexico do Free Trade Judo, rather than just counter-tariffs.
If Canada imposes a counter-tariff on American goods, it just makes things more expensive for Canadians. But, USMCA required that Canada and Mexico agree that the big tech companies can’t be sued in Canada or Mexico for content appearing on their platforms. Fuck that rule, let the lawsuits fly.
The update to NAFTA also required that Canada and Mexico adopt the ridiculously long US copyright term limits, making it life+70 years instead of life+50. So… go back to the original rules and bring a bunch of copyrighted American content into the public domain.
Mexico was required to adopt the “notice and takedown” bullshit from the DMCA. Fuck that. Mexico can go back to their old system. I don’t know what they used, but I’m sure it was better for the end-user than DMCA bullshit, and changing it back would only hurt Hollywood.
Instead of just counter-tariffs, make things cheaper and better for Canadian and Mexican citizens. In particular, fuck American copyrights. It’s ridiculous that Canada and Mexico were forced to bend over backwards for the benefit of Disney and friends. If the US wants its neighbors to respect its IP, then it needs to respect the free trade agreement that Trump fought for and signed.
This is exactly what we need to be looking at, that and patents, DMCA.
I also hope we latch on to EU directives and force companies to have proper GDPR like requests
Then do it bitch, I don’t care.
My job will literally not be affected and all the American companies we work with will just skirt the law to avoid tariffs because America or they will pay them.
Ain’t no one taking down the true north strong and free 🇨🇦🇨🇦🇨🇦
As an American, I support the effort Canada and Mexico will do to fight back.
Same here. Personally, I’m also going to buy as little from the US as I can for the next while. Same as last time.
As an American, I also plan to buy as little American as I possibly can for the next 4 years. Corporate greed and bribery is what won the election, after all.
Same. I thought it would be harder than it is but I can actually get most things made here, often for cheaper prices.
smooth brained trade negotiations incoming
He really wants to pump up China’s export to Mexico and Canada. Just helping his buddy Xi out.
I wonder how long before US automotive factories in Mexico get nationalized, and pump out BYDs.
Eggs coming down in price on Sunday.
Thanks for the reminder that I need eggs this weekend. They’re like $4 CAD a dozen here.
Supply management (economic planning) baby!
So like how does he do this without screwing over 90% of our automotive companies?
I thought he was trying to… Lower
Prices
That’s the neat thing, he doesn’t!
Neat the power to the us gets shut off 6 hrs after the announcement 🤣
He cited the influx of migrants at the southern border, the flow of fentanyl into the United States and the trade deficit the U.S. has with its neighbors.
43 pounds. That’s how much fentanyl was seized at the US-Canada border in 2024. 43 pounds. He’s going to destroy a $1 trillion trade relationship over 43 pounds. If you voted for this asshole you are an utter moron.
To be fair, fentanyl is ridiculously potent, so 43 lbs can do a lot of damage.
It’s still insane to cite that as the reason for the tariffs. I am no longer buying US imports. He has threatened to invade multiple times, and I will stand on guard.
The vast majority comes from Indian and Chinese pharma companies through legit ports of entry.
Let’s talk about that summertime electricity from the north. Can Canada turn that off?
Totally legal. Totally cool. /s
I suggest the counter is to stop respecting Intellectual Property for anything registered in the US, not just US Copyright but also Patents and Trademarks.
The US doesn’t actually make much and is hugely dependent on Intellectual Property to extract wealth from other people making stuff.
Fuck this guy
Car prices are going to go crazy lol.
Michigans entire economy is based around getting car parts machined cheaply in Ontario.
