This is true. When you can’t buy anything then the crooks will supply it. At a cost. Check what the little dicktator is buying up next. He will be the sole trader in the black market. Americans are going to be paying him for the duration of his term for products that were common place before he got into the most influential position in the country. Wakey-wakey America you’re about to get fleeced. As for all you fake christians, you will not be spared. He’ll take anybody’s money. No problem.
Canadian here. I realize you are writing for an American audience. Yet here I am... and I've even subscribed.
PM Carney and his wife are both great hockey-playing, Oxford-educated economists, and hence (in my view) imbued with the economist's technocratic nous. No offence. :)
PM Carney had the guts and the nous to walk away from the recent insultingly bad "deal" presented by the Trump regime because, as former PM Jean Chretien stated at the 25th 9/11 remembrance ceremony in Gander, Newfoundland, "Canada bows to no one".
You are talking tariffs. Yet tariffs are not at all the prime issue for Canada. The prime issue here is the defence of our sovereignty, just as it is in Ukraine. By that, I mean our economic, territorial and cultural sovereignty.
Carney just signed a 100-year defence deal with Ukraine. I suggest you consider addressing the economic implications of that. It comes with all of Ukraine's war-based data on the effectiveness of their myriad drones. It also comes with shared IP. The plan is for millions of drones produced in Canada, with a large % shipped directly to Ukraine.
Carney is holding an Investors Summit in canada now. He will address the EU and the European Commission on Sept. 16. In October, the leaders of the EU and EC will meet IN CANADA.
And there is much more. Concentrate on tariffs if you must. Yet you may come to value a larger, more informed picture about how Canada is reshaping its economy - quite apart from US-Canada tariffs.
Oh for Pete's sake, do you absolutely have to strike such a superior pose?
Can a one-hour "answer the questions" discussion--which is by no means a one time occurrence--focus on something that is not your Most Important topic?
Canada has what the world needs. The buyer of commodities in high demand will pay the transport costs. I think it makes sense for Canada to diversify. It will increase the demand for Canadian exports.
Canadians will, unfortunately and for no fault of their own, suffer while the infrastructure is built to export to Europe and Asia.
The US economy and the country is so big, that the vast majority of the population is not aware of what is going on in our relationships with Canada. But i would have expected that by now the governors and congressmen of the northern states that border Canada, for which business with Canada is a large source of employment, would have initiated legal proceedings against the Federal Government for harm done to their states.
If they don't, it would be further proof that the diversification policy is a wise one
There is a clear historical precedent, In 1971, a major trade dispute erupted between Canada and the United States, sparked by what became known globally as the "Nixon Shock." While not a prolonged, multi-year "war" of escalating tit-for-tat retaliatory measures, it was considered a severe existential threat to the Canadian economy. The details of the dispute, what was tariffed, its duration, and how it was resolved include:
On August 15, 1971, President Richard Nixon announced his New Economic Policy. As part of this, the U.S. unilaterally imposed a 10% import surcharge (tariff) on all dutiable goods entering the United States. The tariff applied broadly to manufactured items and goods across the board. To Canada's shock and horror, Nixon refused to grant them a special exemption, despite Canada being America's closest trading partner and heavily reliant on the U.S. market. The heavily integrated automotive industry—governed by the 1965 Auto Pact—was technically exempt from the surcharge, but the Nixon administration simultaneously applied intense pressure to dismantle the Auto Pact's safeguards that protected Canadian auto manufacturing. The tariff crisis lasted for exactly four months. It began on August 15, 1971, and was lifted in mid-December 1971.
The dispute was resolved through international monetary realignment rather than a bilateral trade treaty. Nixon’s true goal wasn't permanent protectionism; he was using the 10% tariff as maximum leverage to force major trading partners (primarily Canada, Japan, and West Germany) to revalue their currencies upward against the U.S. dollar. This would naturally make U.S. exports more competitive and erase the growing American trade deficit. Prime Minister Pierre Trudeau aggressively lobbied Washington for an exemption, famously telling Nixon, "If you're going to be protectionist, let's be in it together." Tensions were incredibly high. In private White House tapes from December 1971, Nixon famously fumed that Trudeau was a "pompous egghead" and a "clever son of a bitch." (When Trudeau later found out, he dryly quipped, "I've been called worse things by better people.")
In December 1971, G10 nations signed the Smithsonian Agreement. This deal restructured global currency pegging, allowed the U.S. dollar to devalue, and saw foreign currencies revalued. Having achieved his currency manipulation goals, Nixon officially suppressed and lifted the 10% import surcharge.
Though brief, the incident fundamentally changed Canadian economic policy. Realizing how dangerously exposed Canada was to American unilateral decisions, the Trudeau government launched the "Third Option" strategy. This was a deliberate, long-term effort to diversify Canadian trade away from the U.S. by building stronger commercial relationships with Europe and Asia, and it led to the creation of the Foreign Investment Review Agency and Petro-Canada.
Today, trade tensions between Canada and the U.S. are generally managed through legal frameworks like the USMCA (United States-Mexico-Canada Agreement) rather than sweeping global currency alignments. Modern disputes are fought over specific trade rules (such as dairy quotas, digital services taxes, and steel tariffs) rather than the underlying value of the dollar.
While the 1965 Canada US auto treaty initially called on American automakers to produce roughly one vehicle in Canada for every one sold there, the past 60 years, the auto trade between Canada and the United States has functioned as a strikingly close, near-perfect "one-for-one" equilibrium in total economic terms.
Canada ranks as the #1 largest importer of U.S.-manufactured cars and trucks in the world by both dollar value and volume (units). Even with severe trade disruptions and shifting market shares due to recent cross-border tariff disputes, Canada has firmly held its ground as the absolute top destination for American vehicle exports.
Canada is comfortably the top export market by dollar value. In a standard stable trading year, Canada imports over $23 billion to $26 billion USD in finished American passenger vehicles and light trucks. Canada consistently purchases more U.S.-manufactured vehicles than the next seven largest export markets combined (including Germany, Mexico, China, and the UAE). When adding delivery trucks, commercial vehicles, and heavy-duty machinery, the total value swells. annual U.S. exports of just finished cars and delivery trucks to Canada routinely exceed $30 billion USD.
While Canada retains its #1 rank, the ongoing trade tensions have heavily impacted the numbers. Following retaliatory measures, the U.S. share of the Canadian imported vehicle market hit a historic low of roughly 36%as Canadian buyers and dealers pivoted to source vehicles from alternative hubs like Mexico and South Korea to bypass the tariff walls. Despite this contraction, no other country in the world comes close to buying the volume or value of American vehicles that Canada does.
I remain cautiously optimistic that Canada and United States will soon return to trade negotiations due to mutual self-interest in the auto sector.
As the bank robber in the film "Dirty Harry" said to said Harry, "I gottsta know."
1. Is that a gold pig on your bookshelf or a gold javalina?
2. How exactly would a tariff on the Australian Crawl work?
Would the swimmer have to pay, or the audience in attendance who choose to stay to watch the feat, or the aquatic center in which the races take place?
When you have an “infinity tariff,” you have a black market. It will inevitably arise.
This is true. When you can’t buy anything then the crooks will supply it. At a cost. Check what the little dicktator is buying up next. He will be the sole trader in the black market. Americans are going to be paying him for the duration of his term for products that were common place before he got into the most influential position in the country. Wakey-wakey America you’re about to get fleeced. As for all you fake christians, you will not be spared. He’ll take anybody’s money. No problem.
Canadian here. I realize you are writing for an American audience. Yet here I am... and I've even subscribed.
PM Carney and his wife are both great hockey-playing, Oxford-educated economists, and hence (in my view) imbued with the economist's technocratic nous. No offence. :)
PM Carney had the guts and the nous to walk away from the recent insultingly bad "deal" presented by the Trump regime because, as former PM Jean Chretien stated at the 25th 9/11 remembrance ceremony in Gander, Newfoundland, "Canada bows to no one".
You are talking tariffs. Yet tariffs are not at all the prime issue for Canada. The prime issue here is the defence of our sovereignty, just as it is in Ukraine. By that, I mean our economic, territorial and cultural sovereignty.
Carney just signed a 100-year defence deal with Ukraine. I suggest you consider addressing the economic implications of that. It comes with all of Ukraine's war-based data on the effectiveness of their myriad drones. It also comes with shared IP. The plan is for millions of drones produced in Canada, with a large % shipped directly to Ukraine.
Carney is holding an Investors Summit in canada now. He will address the EU and the European Commission on Sept. 16. In October, the leaders of the EU and EC will meet IN CANADA.
And there is much more. Concentrate on tariffs if you must. Yet you may come to value a larger, more informed picture about how Canada is reshaping its economy - quite apart from US-Canada tariffs.
Oh for Pete's sake, do you absolutely have to strike such a superior pose?
Can a one-hour "answer the questions" discussion--which is by no means a one time occurrence--focus on something that is not your Most Important topic?
Canada has what the world needs. The buyer of commodities in high demand will pay the transport costs. I think it makes sense for Canada to diversify. It will increase the demand for Canadian exports.
Canadians will, unfortunately and for no fault of their own, suffer while the infrastructure is built to export to Europe and Asia.
The US economy and the country is so big, that the vast majority of the population is not aware of what is going on in our relationships with Canada. But i would have expected that by now the governors and congressmen of the northern states that border Canada, for which business with Canada is a large source of employment, would have initiated legal proceedings against the Federal Government for harm done to their states.
If they don't, it would be further proof that the diversification policy is a wise one
There is a clear historical precedent, In 1971, a major trade dispute erupted between Canada and the United States, sparked by what became known globally as the "Nixon Shock." While not a prolonged, multi-year "war" of escalating tit-for-tat retaliatory measures, it was considered a severe existential threat to the Canadian economy. The details of the dispute, what was tariffed, its duration, and how it was resolved include:
On August 15, 1971, President Richard Nixon announced his New Economic Policy. As part of this, the U.S. unilaterally imposed a 10% import surcharge (tariff) on all dutiable goods entering the United States. The tariff applied broadly to manufactured items and goods across the board. To Canada's shock and horror, Nixon refused to grant them a special exemption, despite Canada being America's closest trading partner and heavily reliant on the U.S. market. The heavily integrated automotive industry—governed by the 1965 Auto Pact—was technically exempt from the surcharge, but the Nixon administration simultaneously applied intense pressure to dismantle the Auto Pact's safeguards that protected Canadian auto manufacturing. The tariff crisis lasted for exactly four months. It began on August 15, 1971, and was lifted in mid-December 1971.
The dispute was resolved through international monetary realignment rather than a bilateral trade treaty. Nixon’s true goal wasn't permanent protectionism; he was using the 10% tariff as maximum leverage to force major trading partners (primarily Canada, Japan, and West Germany) to revalue their currencies upward against the U.S. dollar. This would naturally make U.S. exports more competitive and erase the growing American trade deficit. Prime Minister Pierre Trudeau aggressively lobbied Washington for an exemption, famously telling Nixon, "If you're going to be protectionist, let's be in it together." Tensions were incredibly high. In private White House tapes from December 1971, Nixon famously fumed that Trudeau was a "pompous egghead" and a "clever son of a bitch." (When Trudeau later found out, he dryly quipped, "I've been called worse things by better people.")
In December 1971, G10 nations signed the Smithsonian Agreement. This deal restructured global currency pegging, allowed the U.S. dollar to devalue, and saw foreign currencies revalued. Having achieved his currency manipulation goals, Nixon officially suppressed and lifted the 10% import surcharge.
Though brief, the incident fundamentally changed Canadian economic policy. Realizing how dangerously exposed Canada was to American unilateral decisions, the Trudeau government launched the "Third Option" strategy. This was a deliberate, long-term effort to diversify Canadian trade away from the U.S. by building stronger commercial relationships with Europe and Asia, and it led to the creation of the Foreign Investment Review Agency and Petro-Canada.
Today, trade tensions between Canada and the U.S. are generally managed through legal frameworks like the USMCA (United States-Mexico-Canada Agreement) rather than sweeping global currency alignments. Modern disputes are fought over specific trade rules (such as dairy quotas, digital services taxes, and steel tariffs) rather than the underlying value of the dollar.
Ben says hi!
If the Canadians boycott goods from the US, isn't that the Canadians imposing an infinity % tax on US goods?
I mean if you don't go to the black market.
While the 1965 Canada US auto treaty initially called on American automakers to produce roughly one vehicle in Canada for every one sold there, the past 60 years, the auto trade between Canada and the United States has functioned as a strikingly close, near-perfect "one-for-one" equilibrium in total economic terms.
Canada ranks as the #1 largest importer of U.S.-manufactured cars and trucks in the world by both dollar value and volume (units). Even with severe trade disruptions and shifting market shares due to recent cross-border tariff disputes, Canada has firmly held its ground as the absolute top destination for American vehicle exports.
Canada is comfortably the top export market by dollar value. In a standard stable trading year, Canada imports over $23 billion to $26 billion USD in finished American passenger vehicles and light trucks. Canada consistently purchases more U.S.-manufactured vehicles than the next seven largest export markets combined (including Germany, Mexico, China, and the UAE). When adding delivery trucks, commercial vehicles, and heavy-duty machinery, the total value swells. annual U.S. exports of just finished cars and delivery trucks to Canada routinely exceed $30 billion USD.
While Canada retains its #1 rank, the ongoing trade tensions have heavily impacted the numbers. Following retaliatory measures, the U.S. share of the Canadian imported vehicle market hit a historic low of roughly 36%as Canadian buyers and dealers pivoted to source vehicles from alternative hubs like Mexico and South Korea to bypass the tariff walls. Despite this contraction, no other country in the world comes close to buying the volume or value of American vehicles that Canada does.
I remain cautiously optimistic that Canada and United States will soon return to trade negotiations due to mutual self-interest in the auto sector.
Dr. J.
As the bank robber in the film "Dirty Harry" said to said Harry, "I gottsta know."
1. Is that a gold pig on your bookshelf or a gold javalina?
2. How exactly would a tariff on the Australian Crawl work?
Would the swimmer have to pay, or the audience in attendance who choose to stay to watch the feat, or the aquatic center in which the races take place?