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116

U.S.-Canada trade talks collapse, setting new 50% tariffs in motion (www.nbcnews.com)

submitted 1 week ago by return2ozma@lemmy.world to c/world@lemmy.world

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[–] Arcanepotato@crazypeople.online 8 points 1 week ago* (last edited 1 week ago) (1 children)

The statement about tarrifs hurting american people wasn't in the statement yesterday, but it has been said before. He doesn't mean they hurt US people solely, he means they bring no benefit to the american people.

At midnight tonight, the U.S. intends to impose a 50% tariff on roughly $28 billion of Canadian goods. Canada will match those tariffs dollar for dollar to protect our workers and businesses.

US tarrifs make canadian goods more expensive for US consumers. The money collected goes somewhere? Idk.
US tariffs hurt canadian businesses because they make it harder to be competitive when selling to the US.
Canadian tarrifs make US goods more expensive for canadians. The money collected for these tariffs are used (at least in part) to fund relief programs. There are also some specific exception programs for certain sectors.
Canadian tariffs hurt US businesses because they make it harder to be competitive when selling to canada.

In the coming days, the government will introduce additional measures to support Canadian workers and businesses, building on the nearly $25 billion in support provided over the past 18 months.

So while it sucks for everyone, I think the point he's trying to make is to highlight that the canadian gov is using the retalitory tarrifs to mitigate the damage caused by US tarrifs, not just for punishment or to impose a tax on canadians. Perhaps important to note is that it's "dollar-for-dollar" not like-for-like, as to reduce impact on sensitive sectors.

[–] Lemmyoutofhere@lemmy.ca 3 points 1 week ago (2 children)

Canadian EXPORT tariffs make even more Canadian products more expensive in the US, on items the US has no choice but to buy from Canada, like Potash and oil.

[–] SaveTheTuaHawk@lemmy.ca 4 points 1 week ago

That's not a tariff, that's an excise tax.

[–] Arcanepotato@crazypeople.online 1 points 1 week ago

I'm not following? Is this a correction or an addition to something in my comment?