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TRUMP vs canada
June 10, 2018
5:28 am
Kidd
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June 10, 2018
4:03 pm
AltaRed
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Hardly. Trump didn't get his way despite his disruptive tactics (arrive late, leave early) so he went into a fit of rage.

We can/should expect more punitive measures from the US on our exports over the next several months, perhaps even for a year, but the largest effect will be higher consumer prices to absorb the tariffs, the loss of some jobs, and the likelihood of a mild recession for awhile until Congress gets Trump restrained. Our economy is strong at 5.8% unemployment and we need to get the lead out with more trade under CETA to/from the EU.

This whining may blow over after Kim plays Trump and makes him even more enraged and distracted.

June 10, 2018
6:30 pm
Yatti420
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I'm not worried. Neither is the market yet.

June 10, 2018
8:42 pm
Loonie
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Like so many things, nobody really knows.
I keep thinking of the debates during the Primaries, where all those experienced politicians didn't know how to get people to understand the risks inherent in Trump.

Right now, he's in a hurry to push through whatever he can before the mid-term elections in the Fall. His current BS is, I think, designed to instill fear in his subjects and thus buttress his candidates for election. Whatever he says, I'm sure it's really mostly about positioning for this upcoming election right now. After that, he may be somewhat disempowered.
He certainly enjoys provoking people. It's his "negotiating" "style". It's also consistent with some psychopathologies.

I don't know where it's going but I have been methodically editing my purchases to eliminate US goods and US-owned companies as much as reasonably possible.
I certainly won't be travelling to the US.

There is no better time to BUY CANADIAN!

June 10, 2018
9:06 pm
User230
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This is what happened.

Trump said he wants Russia in the G7 again to make a G8.

Trump showed up late. He had a picture with him being surrounded by other leaders and Germany hovering over him well he sat.

He talked with the PM saying good things.

PM gave him a photo of his dads brothel that was in B.C. Canada. Kind of a troll thing to do. Supposidly it was the start of his dads bussiness in North America or something.

Trump left early from the summit and missed the group photo.

PM said some things about how we will stand up for Canadians after Trump left. Trump didn't like this.

Trump tweets nasty things. Spokes people say nasty things.

Trump is meeting with NK soon. Didn't like how he was treated at the G7. Basically Trump wanted the G7 leaders to praise him. Say what great person he is for dealing with NK. They instead scollded him a bit. Trump is a sensitive person....

June 11, 2018
5:32 am
Top It Up
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We've heard this all before -

US-EU trade war looms as Barack Obama bill urges 'Buy American'

The prospect of a trade war between the US and Europe is looming after "Buy American" provisions were added to President Barack Obama's $820 billion (£573 billion) stimulus package.

[...]

"To do that, we must ensure that federal funds are used to buy American products and to help promote manufacturing in our country. Ultimately I want taxpayers to know where their dollars are being spent. Are they being spent on American products or products coming from Germany or Mexico?"

Mr Obama has sent mixed signals on free trade throughout his campaign and the early days of his presidency. He has argued that the North American Free Trade Agreement should be recalibrated in favour of American workers ...

https://www.telegraph.co.uk/news/worldnews/barackobama/4389597/US-EU-trade-war-looms-as-Barack-Obama-bill-urges-Buy-American.html

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Loonie said

I don't know where it's going but I have been methodically editing my purchases to eliminate US goods and US-owned companies as much as reasonably possible.
I certainly won't be travelling to the US.  

Now that you've been keeping and adding to that list since 2009, when Obama made his trade statements ... you must have a pretty comprehensive scribbler of "Don't Buy America" ... huh!

June 11, 2018
6:15 am
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A very interesting Op-Ed from the NYT, dated June 2014, and is it really any different today, in the Trump administration -

Obama’s Free-Trade Conundrum

"In his State of the Union address on Tuesday, President Obama focused on reversing the growth of economic inequality in the United States and restoring the American dream."

https://www.nytimes.com/2014/01/30/opinion/obamas-free-trade-conundrum.html

June 11, 2018
7:34 am
Yatti420
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Here's a fun fact. Barrack Obama got a Nobel Peace Prize 11 days into his presidency. Trump will at-least earn his sf-cool

June 11, 2018
7:37 am
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Lest anyone be too quick on the trigger, Trudeau has not been immune to "tantrums" and "gamesmanship" during trade discussions - from the CBC -

Trudeau said he didn't snub other TPP leaders when he skipped a planned meeting to discuss the deal, as there would have been little point in having such talks when there was still so much distance between the countries on certain chapters.

Trudeau and Japanese Prime Minister Shinzo Abe had bilateral talks immediately before that planned meeting. After some disagreements between the two during the tête-à-tête, Abe told the other waiting leaders that the meeting was off, and Trudeau went on to meet with Facebook executive Sheryl Sandberg.

[...}

While some countries might be eager for a deal, notably Australia, New Zealand and Japan — their respective national news outlets quoted government sources expressing disappointment at Trudeau supposedly "screwing" and "sabotaging" a final agreement by being a no-show — Trudeau said they should never have expected to leave Vietnam with an agreement in hand.

"I wasn't going to be rushed into a deal that was not yet in the best interest of Canadians."

[...]

Indeed, since his arrival in Vietnam, Trudeau has said he wouldn't cave to "pressure" from others, telegraphing that Canada did not have its pen in hand heading into Danang, the site of the APEC conference.

http://www.cbc.ca/news/politics/justin-trudeau-tpp-canada-not-ready-apec-1.4398824

June 11, 2018
8:53 am
Loonie
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Obama has nothing to do with this. He didn't do the things that Trump is doing and Ican't imagine he ever intended to. Let's stick with the here-and-now.

I don't think we have to worry about Trump getting the Nobel. It's mostly him who is promoting the idea; another little ego trip.
Remember when he was so determined to ride in the Queen's golden carriage, with a great sense of entitlement? Somehow, the whole state visit got put on the back burner. The Brits are pretty good at discouraging people like him.

June 11, 2018
11:48 am
Bill
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"Let's stick with the here-and-now". Trying to restrict once again - sorry, we're free here.

Anyway, some say buy Canadian, Trump says buy American, Millennials say buy local - they're all peas in a pod, protectionists.

Human history is all about trading, trade routes were the first reason humans traveled and explored, so the protectionists are going against natural human impulse to transact and prosper (1930s & Soviet Union were examples of temporary forced restriction of trade), won't work in the long run. People yearn for freedom.

June 11, 2018
2:50 pm
Loonie
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Libertarianism doesn't work either.

June 11, 2018
4:00 pm
mmlt
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I love how the media only feeds us the most sensational parts of the stories. Gotta keep the pot boiling.

June 11, 2018
4:05 pm
Jon
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The theory of comparative advantage is a trial and tested theory in economics in which it have prove itself to be beneficial to the consumers (hence, the demand side of economy). However, this is not the case for the laborers and producer in the developed country because it cause large amount of industrial jobs to be replaced by small amount of high skill (hence, high entry) service jobs which increase income inequality. This is because many industrial jobs are outsourced or replaced by machine and AI while the new service sector jobs require many specialized skills which take years and many $ to acquire.

It make sense to shop local because it reduce carbon emission by shipping stuff around the world, just have to make sure there are no regulations to impose that restriction on people.

June 11, 2018
5:57 pm
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The many failings of Canada’s supply-management system are government’s fault, not farmers’

... our dairy industry is highly inefficient. Several studies over the years have pointed to how costly milk production is in Canada compared with other industrialized economies. Switzerland is the only place where milk production is more expensive. ...

... supply management in the dairy industry has led to a sense of institutionalized entitlement. The words "consumer" and "customer" have no meaning. Over the years, dairy farmers have become great cost managers, as it is the only way for them to earn more by doing the same thing. By virtue of maintaining supply management, dairy farmers are, for all intents and purposes, bureaucrats, not entrepreneurs. They work for the state, not for the economy. Dairy Farmers of Canada has spent hundreds of millions of dollars over the years promoting milk to Canadians, while the consumption of fluid milk per capita has dropped for almost three decades. No strategy whatsoever.

https://www.theglobeandmail.com/report-on-business/rob-commentary/the-many-failings-of-canadas-supply-management-system-are-governments-fault-not-farmers/article34793275/

June 12, 2018
1:07 am
Kidd
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If the USA place tariffs on cars made in canada, will GM see this as their way out? Will my pension be funded? Will the government care about my pension? It was after all the government that allowed corporations and big businesses to underfund pension plans by deferring payments. Look at Sears, the steel companies in Hamilton. What would happen if the Canadian government decided to reduce pension payouts to the civil service retirees, or how about cutting the pension payouts to our blessed teachers?

Canada is a protected market place, Trump is right about that... the cost of doing business in canada is sooooo expensive, it has to be protected. Regulation laws, taxation, insurance, utilities, wages etc, make Canada #1. Yes, it would be great to pay $20 for a lunch and get more than you can eat but how would your government afford their world travel? So we here in Canada pay $50 for a snack sized meal.

Last week i paid $60 for 36 cans of beer. I thought about driving to Quebec BUT Canada has protectionism trade laws between provinces.

June 12, 2018
7:48 am
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From The Washington Post -

Why Trudeau doesn’t have the high ground on trade

One of President Trump’s darkest talents is his ability to identify an opponent’s delicate spot and stab it remorselessly. ...

And now he has found Canada’s vulnerable flank: dairy tariffs.

Though Canada enjoys broadly free trade with the United States through the North American Free Trade Agreement, it has never been absolute, and the deal makes several concessions to Canadian protectionism and politics. Chief among them are Canada’s extraordinarily high tariffs on American dairy products, which at last week’s Group of Seven summit in Quebec, Trump correctly identified as a “270% tariff.” As the CBC reminded, “Canada levies a tariff of 270 percent on milk, 245 percent on cheese and 298 percent on butter in an effort to keep U.S. and other foreign dairy imports out.” These tariffs exist almost exclusively for the benefit of the agriculture sector of Quebec, a province with a unique stranglehold on Canadian politics.

https://www.washingtonpost.com/news/global-opinions/wp/2018/06/11/why-trudeau-doesnt-have-the-high-ground-on-trade/?noredirect=on&utm_term=.d16ebe8bea70

June 12, 2018
4:46 pm
Loonie
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June 12, 2018
4:52 pm
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NOPE ... I just deal in facts, not hack satire from the left.

June 12, 2018
4:59 pm
Loonie
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Too bad; you miss all the laughs.
Good that you finally saw it though.

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