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My boss is scared of good coats skyrocketing despite us being Canadian. We aren't paying the tax. If it raises prices on American import, whatever, we don't get our food from there for the most part. Anything that isn't local is either from Italy cause Italian restaurant or from China cause that's where most garlic comes from. Maybe our lemons are american but I think that's all.
looks like they're doing a retaliatory 25% tariff starting tuesday, so it's gonna go both ways
That seems like a really dumb move. "OH, YOURE BLEEDING? WELL ME TOO MOTHERFUCKER!" absolute Wimp-Lo logic. Just sell shit to any of the other countries.
I don't think they can. Like politicians can do all the trade deals they want but the infrastructure doesn't exist to get shit to ports that dont have the capacity to handle all the shit. Don't get me wrong Canada SHOULD be able to do trade with other countries but they got complacent.
Complacency is our game
Honestly, it may be dumb economically, but it's also important for states to show they won't be manipulated easily, even if it hurts your own country too. It's a principle of international relations, that of reciprocity, and I don't think it's super dumb.
Yeah, Canada could seem weak compared to america on the world stage!
It's not about looking weaker than any given country, it's about countries understanding that bad actions towards you have bad consequences. You can't just do anything you want in regards to policy with me, there will be consequences
It also hurts the US in the long term. Importers don't want to pay the tariffs and they'll be looking elsewhere, even if it's a little more expensive. Once they switch, they might not switch back
there is probably some increase on the cost of goods from transportation element because of gasoline price, iirc most of canada's oil is refined in america and canada buys it back from america - which means the tariff of oil will probably raise the prices of good as a secondary effect
I figured there would be something like that, there is an oil refinery really damn close by, so I know we do some. It almost blew up once. Considering the rate that food prices have been going up regardless, it will probably be pretty hard to notice.
I was wondering if since supposedly less companies buy stuff from Canada, it will have quite an impact to the CAD, bringing in less demand for it, then the value of the currency will drop. Bringing the price of stuff in Canada up?
i am not sure, it has been many years since i read my economics book.
but it sounds about right, though hopefully somebody more well read can confirm, i am not confident to say how the currency value of CAD in respect to USD will react.