Tariffs and Trade Wars
"I think it's gonna be shock and awe," said Indiana Senator Jim Banks, a staunch Trump ally1 said about what to expect from the incoming Trump administration prior to the January 20, 2025 inauguration.
Shock and Awe: A military doctrine emphasizing overwhelming force to quickly subdue an enemy.
Apparently we, the American people, are now the enemy.
There’s A LOT going on right now. It’s a challenge to try to stay reasonably informed yet maintain our sanity. Lots of people I know have tuned out…it’s just too hard. Now, their pocketbooks will make them pay attention.
On Saturday, February 1st, Trump instituted a 25% tariff on imports from Canada and Mexico citing “illegal aliens and drugs, including deadly fentanyl, constitutes a national emergency under the International Emergency Economic Powers Act (IEEPA).” Think these import tariffs are going to stop either of those problems? I don’t.
Prices will rise on both sides of the border...it's all so very sad and unnecessary. Canadian Prime Minister Justin Trudeau breaks the tariff situation down and speaks directly to the American people about our shared history.
As Prime Minister Trudeau says, Trump is breaking the United States-Mexico-Canada Agreement (USMCA) trade agreement that he signed on July 1, 2020 replacing the 1994 North American Free Trade Agreement (NAFTA).
“A declaration of economic war”2 is the headline in The Globe and Mail. Referring to battles both countries fought together throughout the past century, Doug Ford, Premier of Ontario said, “We lost soldiers standing up for our family, and we consider the U.S. part of our family.” Provinces are pulling American-made products off their shelves. “Canada now has no choice but to hit back and hit back hard,” Ford continued. “We need to maximize our points of leverage and use them to maximum effect.”
Think Canadian imports won’t impact American citizens? Think again.
We’ll end up paying more for natural gas, imported energy, cars because of increased prices on auto parts, produce, and all the other imported products from Canada, Mexico, and China that we take for granted.
If you don’t like it, call your elected representatives and tell them. You can easily find that information by using the 5 Calls app. Make your voice heard…we don’t have to settle for higher prices. And while you’re at it, tell your representative to fight back against Elon Musk’s illegal takeover of the American government!
Until next time,
Deb
Saw the writing on the wall and now we’re living it! 🤦🏼♀️
I think it should be noted that the Canadian tariff on oil is 10%, 25% on other trade. If I were the Canadian government I'd reduce the amount of oil sold to the US in retaliation. Trump supporters were lead to believe the tariffs would be paid by the affected countries rather than the truth that importers pay the tax which is then passed on to the consumer. Once our prices go up, does anyone believe they'll go back down when the tariffs are removed? Unlikely.