The whole world may conclude that Trump will self-destruct.
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Rafael Edward Cruz that is.
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Please use his preferred name. Oh, wait WTF.
So apparently Republicans are scared, just not scared enough to actuslly, do anything.
https://www.cbc.ca/news/world/tariffs-political-fallout-1.7502562
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The brexit parallels are indeed striking.
So it seems that Trump and his minions realised the complete absurdity of targeting SPM.
From FT:
In the stocks thread I Initially posited 5k for S&P bottom
I think that was an under-estimate. Could be headed for 4k as money flees US equities.
With so many containers in transit at any time and the tariffs hitting with so little warning, some companies may be royally screwed
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Let me consider…what things do I consume, that I want to consume, and am willing to pay more for? Things we import because they aren’t available domestically.
Chocolate…this is a nasty one.Da Gnome won’t last long without quality chocolate.
Coffee…I shudder to think
Vanilla. Can’t we make a teensy weensy exception for Madagascar?
Film noir crime dramas from Northern Europe… not sure how tariffs work on streaming services…but I am worried.
What’s on your list?
Tariffs on items that don’t grow well here are stupid. Or raw materials we can’t get here. Can we import more green coffee beans without a tariff and then pay some roasters in the US rather than one near the source? I think we mostly do that.
I will need to buy cars in the next couple years since I have early teenagers. I assume used cars will become more expensive, or cheap new cars even if they are produced here. A few grand isn’t going to change the decision or my life much, but it’s still stupid if that money isn’t actually hiring any new workers because this administration is too chaotic to plan around.
Coffee would be hard to give up. I’ll pay the premium.
Thr US gets a big share of our fruits and veggies from Mexico and Canada, even ones we can grow here. I’m sure families will be making some substitutions when some products go higher. Enjoy your US summer tomatoes this year, as the greenhouse ones we have year round from Canada will get even pricier.
I might buy fewer bananas and avocados.
This is a massive adjustment due to the tariffs.
From 1.3% growth to minus 0.3% over 2025.
Thats a huge economic shock.
Our bananas and coffee (Costa Rica), berries and avocados (Mexico), oranges (Morocco), etc., all come here tariff free. I can’t think of anything I still buy from the USA: import substitution was pretty easy.
Have always bought dairy products and chocolate from Canadian producers.
Canadian dairy product tariffs (275%) and supply management seem to be big issues with Trump whenever he talks about Canadian barriers:Canadian farmers going to be sacrificed in this tariff war?
One of my lifelong best friends (Gordon Pitts, a fellow farm boy whom I went to high school with) had the feature article in the Globe and Mail’s Opinion section today on this very subject. Since he is an entertaining and knowledgeable author, I will respond by just providing the (gifted) link to his article.
All political parties here strongly support the maintenance of the supply management system for dairy and egg products. It is political suicide to suggest dismantling the system.
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Is that a self-portrait?
He looks like a cow.
I thought the cow photo was a nice touch but I did grow up on a dairy farm.
If you can get past the cow, I think you will enjoy the article!
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From what I’ve heard, the effluent from dairy is a big problem in NZ. They may have to scale back.
We buy NZ grass fed butter (another advantage of the warmer winters) from Costco. Much cheaper than Irish butter and full of omega 3.