Faced with tariffs imposed by U.S. President Donald Trump, some countries have, so far, responded by turning the other cheek, and not retaliating with their own duties.
Canada, however, continues to hit back in the trade war with its neighbour to the south. But it also raises the question of whether Canada absorbing the blows from U.S. tariffs, while painful, might be preferable to the overall economic damage from a full-scale trade conflict.
It’s an issue, perhaps unsurprisingly, on which economists have varying views. Some say Canada has no choice but to retaliate, even if imposing tariffs on U.S. goods will increase prices for Canadians. But others suggest those moves may have little impact on the U.S.
The people who flooded Canada with cheap foreign labour to undercut worker wages are the same people who shipped your job overseas at the first opportunity under free trade agreements.
Now these same folks, who only ever have your best interests at heart, want you to believe that all tariffs anytime not just Trump’s are Satan’s handiwork.
This is why I regard our current annexation hysteria with its accompanying ready-to-assemble Ikea flat pack patriotism loyalty oath kits with a jaundiced eye.
We need a Trump.
Why Tariffs Are Good
The claim that tariffs are inherently misguided and inevitably harmful does not stand up to scrutiny, especially when it comes to U.S. trade with China
and …
Trump Is Right About Our Trading Partners Imposing Excessive Tariffs
h/t patthedog
