It’s important to understand that the 25% tariffs announced by President Trump today are NOT imposed on Canada — they will be paid by American consumers and businesses who buy goods imported from Canada. Tariffs are a tax, and Americans who will have to pay more or go without our products will be the first to suffer.
Of course, Canadian exporters of these goods will as a consequence lose clients, contracts and sales, and will be forced to cut down on production and lay off workers. Or they will lower their prices to keep market shares and will see their profits diminish.
Because 75% of our exports go south of the border, our economy will for sure be very negatively impacted by this.
The stupidest thing our government can do however to deal with this crisis is to impose the same kind of tariffs “dollar for dollar” against US imports.
The US economy is ten times bigger than ours, much less reliant on trade than ours, and much less dependent on our market than we are on theirs.
Not only would retaliatory tariffs have much less impact on American exporters, they would immediately impoverish Canadian consumers forced to pay more for imported goods, as well as destabilize Canadian businesses that need inputs from the US in their production processes. It would more than double the harm of the US tariffs to our economy.
Trade wars are bad for everyone, but they are much worse for a small country with fewer options. We simply cannot win a trade war with the US. It’s very unlikely that Trump will back down. All we will do is provoke a massive economic crisis in Canada, until we are forced to capitulate.
Another self-destructive thing to do would be to set up giant “pandemic-level” bailout plans to support everyone affected by this trade war. This will simply bankrupt our governments even more than they already are and make us even weaker.
So what should we do?
1. Double down on efforts to control our border, crack down on fentanyl dealers, deport all illegals, and impose a complete moratorium on immigration, to answer Trump’s immediate concerns about Canada.
2. Tell the US administration that we are ready to renegotiate North American free trade and put dairy supply management and other contentious issues on the table.
3. Wait and see to what extent Trump is willing to keep tariffs in place despite the harm it does to the US economy. Despite his pretenses that Americans don’t need our stuff, the reality is that on the contrary they have few other options for crucial resources like oil, lumber, uranium and other minerals, etc. He will stop acting like a bully when he sees that he can get more results by sitting down and negotiating.
3. To reduce our dependence on the US market, immediately implement an ambitious plan to tear down interprovincial trade barriers and help our impacted exporting industries find alternative markets in other countries.
4. Immediately implement a series of bold reforms to make our economy more productive, including: reduce corporate and personal taxes, abolish the capital gains tax, abolish all corporate subsidies, get rid of excessive regulation, remove impediments to the exploitation and export of natural resources, drastically cut government spending, mandate the Bank of Canada to stop printing money and start accumulating a gold reserve to prepare for the global monetary reset (which is likely part of Trump’s plan).
In short, instead of adopting a suicidal strategy to confront Trump, we must do what we should have done a long time ago to strengthen our economy and our bargaining position. The transition will be rough, but not as much as complete bankruptcy and disintegration.
The Conservatives have produced email evidence that Parks Canada cancelled prescribed burns in Jasper for political optics under Guilbeault's watch.
They are roasting Harjit Sajjan at committee with it.
MEGA THREAD!! 🇨🇦 Confiscation “Buyback” spending exposed?
1/
On Sept 17, @DonPlett shared a govt response to an #OPQ on buyback spending. Within that document we see $9,095,398 in “consulting” to Samson & Assoc.
So who are Samson & Assoc? I went to find out.
The fact that Rage Against the Machine had a residency at the Capital One Bank Arena and then demanded everyone take a Pfizer shot to see them will keep me laughing all through the winter.
Jussie Smollett offered jobs to two unemployed black actors, and now they want to send him to jail.
And you’re telling me Hollywood doesn’t have a diversity problem?
#IStandWithJussie
On my podcast with @joerogan he offered to moderate a debate between @JoeBiden and @realDonaldTrump It would be four hours with no live audience. Just the two candidates, cameras, and their vision of how to move this country forward. Who wants this? #debates#Election2020
Nothing says “I stand with women” like forcing girls to undress in front of boys who believe they are girls, and telling them they are bigots if they don’t
Misogynists always claim that men are better than women at sports.
But if that’s the case, how come cyclist Rachel McKinnon only started winning gold medals *after* she transitioned?
#Checkmate
Scheer supports:
-Paris Accord and its emission targets
-Sending $ billions to developing countries for climate change
-Replacing Lib carbon tax with another tax on emitters
PPC is the ONLY one that will not force you to PAY MORE for climate alarmism.
https://t.co/DPnTvJW7t8
Thread ... 1.
If you want to look at the actual evidence .... every single pipeline since Trudeau was elected has been either vetoed, cancelled, delayed or in peril. Under Harper’s govt, pipeline capacity nearly doubled out of western Canada. Yes, DOUBLED.
1/ The @peoplespca is the only major party with policies different than the others on:
-immigration
-multiculturalism
-equalization
-tax cuts
-balancing the budget
-climate alarmism
-corporate welfare
-foreign aid
-UN globalism
-defunding CBC
-supply management
-health care
What a bunch of saps we are in Canada. We have all the oil we will need for hundreds of years and we buy from Saudi and boycott our own oil. Save Canada - Quit Paris - Build Pipelines.