The Tariff Thread

[direwolf]

Unfortunately the vote is only symbolic and has zero chance of becoming law. Our only hope of getting the tariffs completely lifted lies with the Supreme Court, which will surely side with Trump since they're completely corrupt at this point.

Best we can hope for is for the two sides to get back to the bargaining table at some point to hopefully get some kind of deal sorted out to at least get the tariffs reduced. But of course that all depends on the Orange Dips*** and his childish mood swings.

https://www.ctvnews.ca/world/article...oes-that-mean/

In a rare bipartisan vote, the Senate indeed voted to block Trump’s tariffs on Canada, passing a resolution to end the national emergency declaration that allowed the president to impose duties on Canadian goods.

But – and there is always a but – the vote is largely symbolic because it’s unlikely to become law.

The Republican-controlled House, under Speaker Mike Johnson, passed a new rule that bars any measures that challenge Donald Trump’s tariff policies. That effectively means that Senate vote won’t see the light of day.

While analysts say this second vote to nullify Trump’s tariffs is notable, it does not change Trump’s tariff policy.

[Fuzz]

I hadn't realized until now just how flacid the US "checks and balances" system actually is. What a failure of a system of governance. Way to go, founders. You sure failed hard on that one.

[Erick Estrada]

Nice democracy they have south of the border. To me the most shocking part of all this is still that so many Americans self admittedly don't seem to care about what's happening to their country. Maybe it's a sign of the times that people are so selfish and only care about what's next on their Instagram or tiktok feed and have taken their lifestyles for granted. It's just depressing to see our neighbors to the south head down this road which ultimately affects Canadians and the rest of the world.

[puffnstuff]

A review of the APEC summit finds that while all countries work on detailed, very specified deals, American "deals" have no details and nothing in writing nor written out readouts. We have to solely rely on counterparts' statements and comments Trump admin makes to the media.

I wonder whats different about the US that they cant put any work into deals?

[greyshep]

Originally Posted by puffnstuff

A review of the APEC summit finds that while all countries work on detailed, very specified deals, American "deals" have no details and nothing in writing nor written out readouts. We have to solely rely on counterparts' statements and comments Trump admin makes to the media.

I wonder whats different about the US that they cant put any work into deals?

Its all theatre with him. No different than this...

[Doctorfever]

Originally Posted by CroFlames

It's a trade WAR. You don't play nice when you are at war.

https://nationalpost.com/news/canada...logy-tariff-ad

“I did apologize to the president,” Carney told reporters on Saturday in Gyeongju, South Korea, where he was attending the Asia-Pacific Economic Cooperation summit.

[CroFlames]

He shouldn't have apologized.

[Sidney Crosby's Hat]

I like it. Good cop, bad cop. The message gets out courtesy of Doug Ford and then Carney comes in and says, "sorry about my silly Premier/governor."

Trump would probably back off a bit, especially when reminded that he himself is not on the same page as some of his governors (Newsom).

[Firebot]

Originally Posted by Sidney Crosby's Hat

I like it. Good cop, bad cop. The message gets out courtesy of Doug Ford and then Carney comes in and says, "sorry about my silly Premier/governor."

Trump would probably back off a bit, especially when reminded that he himself is not on the same page as some of his governors (Newsom).

We still have a fentanyl czar you know, we even removed all retaliatory tariffs, and yet we still have all of the tariffs set with an additional 10% because Trump is raging about Reagan being right.

Elbows up turned into on your knees.

[Firebot]

https://www.canada.ca/en/privy-counc...anyl-czar.html

Just so we realize how completely ridiculous pandering to the nut down south is.

[Slava]

Originally Posted by Firebot

We still have a fentanyl czar you know, we even removed all retaliatory tariffs, and yet we still have all of the tariffs set with an additional 10% because Trump is raging about Reagan being right.

Elbows up turned into on your knees.

Has that new 10% been implemented or detailed yet? I hadn't heard anything concrete other than the announcement that he was doing it.

[Locke]

Originally Posted by Firebot

We still have a fentanyl czar you know, we even removed all retaliatory tariffs, and yet we still have all of the tariffs set with an additional 10% because Trump is raging about Reagan being right.

Elbows up turned into on your knees.

Whatever happened to 'No Kings?'

[Firebot]

Originally Posted by Slava

Has that new 10% been implemented or detailed yet? I hadn't heard anything concrete other than the announcement that he was doing it.

It hasn't made this list yet so far...for now

https://www.tradecomplianceresourceh...ariff-tracker/

Yeah...

[Slava]

Originally Posted by Firebot

It hasn't made this list yet so far...for now

https://www.tradecomplianceresourceh...ariff-tracker/

Yeah...

Meh, TACO. And really, for all the people who are like "well, Carney said he would deal with this and nothing has happened..." what in the world do you expect? It's evident that the US is negotiating in bad faith, and there is no deal to be done.

[opendoor]

I mean, the numbers being thrown around are kind of meaningless as long as USCMA exists. Based on Q2 numbers, about 90% of Canadian goods are entering duty free and the effective tariff rate on all Canadian goods is about 2.5%. Even if they go through with adding the 10% additional tariff, that pushes it up to what, 3-3.5% maybe? That's not exactly a trade war or anything worth antagonizing the administration over at this point. Let them talk big, and save the retaliation for if/when they try to screw us over with USMCA.

[undercoverbrother]

Originally Posted by Sidney Crosby's Hat

I like it. Bon cop, bad cop. The message gets out courtesy of Doug Ford and then Carney comes in and says, "sorry about my silly Premier/governor."

Trump would probably back off a bit, especially when reminded that he himself is not on the same page as some of his governors (Newsom).

fixed to be more Canadian

[Doctorfever]

Originally Posted by CroFlames

He shouldn't have apologized.

Bet he apologizes again. Ellbowzz zup!

[Johnny Makarov]

Originally Posted by Doctorfever

Bet he apologizes again. Ellbowzz zup!

You should apologize to us for reading your garbage. lol

[Doctorfever]

Originally Posted by Johnny Makarov

You should apologize to us for reading your garbage. lol

Quoted. For no reason, whatsoever.

[Firebot]

Originally Posted by opendoor

I mean, the numbers being thrown around are kind of meaningless as long as USCMA exists. Based on Q2 numbers, about 90% of Canadian goods are entering duty free and the effective tariff rate on all Canadian goods is about 2.5%. Even if they go through with adding the 10% additional tariff, that pushes it up to what, 3-3.5% maybe? That's not exactly a trade war or anything worth antagonizing the administration over at this point. Let them talk big, and save the retaliation for if/when they try to screw us over with USMCA.

Joly should call up Stellantis's and Diageo's CEO and let them know this.

Downplaying the impact of current tariffs is such an odd take when it has real long term damaging repercussions with real consequences.

Why is it believed that USCMA will remain in perpetuity when it's set for renewal in less than a year and Trump has vowed to get a better then the guy who did such a bad one with USCMA? There are several goods that while they are USCMA compliant (and exempt from the 35% tariff), tariffs still currently exist on USCMA compliant such as Section 232 Tariffs on steel.

https://www.cfib-fcei.ca/en/site/us-tariffs

Here are the current tariffs affecting Canadian exports into the U.S.:
35% tariff on all imports that don’t comply with the Canada-United States-Mexico Agreement (CUSMA) (effective April 2). What is considered CUSMA-compliant?
10% tariff on non-CUSMA compliant potash and energy products (effective April 2).
50% tariff on aluminum and steel imports from all countries into the U.S. (effective June 4).
25% tariff on all cars and trucks not built in the U.S. (effective April 2).
50% tariff on copper (effective August 1).
35% tariff on softwood lumber (effective October 14).
25% upholstered wooden products and kitchen/bathroom cabinets and vanities (effective October 14).
Elimination of the U.S. de minimis treatment for low-value shipments. Goods valued at $800 or less are now subject to all applicable duties (effective August 29). What is de minimis treatment, and how does the Executive Order impact it?
Goods transshipped to evade the 35% tariff will be penalized with a 40% tariff. For example, if a business tries to avoid the 35% tariff by shipping goods through another country first, the U.S. will penalize that action with an even higher tariff of 40%.


Note that the 2.5% you are quoting is from a June number estimate prior to many of these new tariffs, where estimates were expecting much higher effective tariff rates and may be due to bad US data.

https://financialpost.com/news/canad...w-tariffs-rate

Economists had previously expected U.S. tariffs to come in much higher, referencing U.S. Census Bureau data that said only 56 per cent of Canadian goods were compliant with CUSMA. But it appears that a bit more than 90 per cent of Canadian products are entering the U.S. free of such levies.


Davenport said this is happening for a variety of reasons, including a separate classification under U.S. international trade rules that covers non-CUSMA compliant goods. It’s also possible the U.S. data is just incomplete, wrong or that “fluid and volatile U.S. trade policy could be causing customs agents to mislabel or misclassify some imported goods.”


As of Sept. 1, Oxford is estimating the effective tariff rate on Canadian exports to the U.S. to rise to 6.2 per cent, recalibrated from 14.2 per cent, and it expects that rate to hold into 2026, based on the rising compliance rate and an increase in the tariff rate on non-CUSMA-compliant goods to 35 per cent and a new 50 per cent tariff on copper.

So we are estimated to be at at least 6.2 effective right now.