Trump defends tariffs, accuses Canada of being 'very abusive of the United States

[libertybele]

Trump defends tariffs, accuses Canada of being 'very abusive of the United States

President Donald Trump defended his recent tariffs against Canada, Mexico and China while speaking to reporters at Joint Base Andrews on Sunday night.

The tariffs, which were authorized in an executive order on Saturday, will go into effect Tuesday. Under the International Emergency Economic Powers Act (IEEPA), a 25% additional tariff will be levied on imports from Canada and Mexico and a 10% tariff on imports from China.

During his exchange with reporters, Trump accused Canada of being "abusive" towards the U.S.

"Canada has been very abusive of the United States for many years. They don't allow our banks," Trump claimed. "And you know that Canada does not allow banks to go in, if you think about it. That's pretty amazing if we have a U.S. bank. They don't allow them to go in."

"Canada has been very tough for oil on energy. They don't allow our farm products in, essentially. They don't allow a lot of things in. And we allow everything to come in as being a one way street.

Trump also said that the U.S. subsidizes Canada "by the tune of about $200 billion a year."...............

https://www.foxnews.com/politics/trump-defends-tariffs-accuses-canada-being-very-abusive-united-states-video

[Canuck Conservative]

We all know what Trump is trying to do

But, now with threats to put tariffs on Europe too, it's almost to the point where he's starting to create a "Hate America" backlash abroad ... not good for US companies that depend on export sales

This is how destructive trade wars start

Putin must be laughing with joy at the way his enemies are suddenly fighting among themselves!

[DB]

Just looked.

There are a number of Canadian banks in the US and apparently no US banks in Canada, at least not directly. No BofA for example. Wells Fargo sort of has a presence there.

Does Canada already have big tariffs on US farm products? If it does, that is a problem.

If Canada wants to protect its industry that the street goes both ways. Both sides need to stop subsidizing industry including farming.

[DB]

We all know what Trump is trying to do

But, now with threats to put tariffs on Europe too, it's almost to the point where he's starting to create a "Hate America" backlash abroad ... not good for US companies that depend on export sales

This is how destructive trade wars start

Putin must be laughing with joy at the way his enemies are suddenly fighting among themselves!

Are those Canadian tariffs on US farm goods in the article accurate?

[Wingnut]

We all know what Trump is trying to do

But, now with threats to put tariffs on Europe too, it's almost to the point where he's starting to create a "Hate America" backlash abroad ... not good for US companies that depend on export sales

This is how destructive trade wars start

Putin must be laughing with joy at the way his enemies are suddenly fighting among themselves!

LOL.  Dude ... To hate the USA is to love us.    Besides we really don't care what the Canuck think about the USA..

[libertybele]

We all know what Trump is trying to do

But, now with threats to put tariffs on Europe too, it's almost to the point where he's starting to create a "Hate America" backlash abroad ... not good for US companies that depend on export sales

This is how destructive trade wars start

Putin must be laughing with joy at the way his enemies are suddenly fighting among themselves!

??? Trump is simply trying to level  the playing field and rightfully so and the U.S.A.  shouldn't be subsidizing Canada to the tune of $200 Billion.  $200 Billion a year is a lot of $$$.

Again, FAIR trade is President Trump's goal and I couldn't agree with him more.

[DB]

??? Trump is simply trying to level  the playing field and rightfully so and the U.S.A.  shouldn't be subsidizing Canada to the tune of $200 Billion.

Is it true though? I'd like to know.

[libertybele]

Is it true though? I'd like to know.

President Trump stated that we are subsidizing Canada with $200 BILLION a year. 

One report is stating that it is not that much.

I'm taking what the report is saying with a grain of salt as nonetheless we are subsidizing them.

https://www.ctvnews.ca/world/trumps-tariffs/article/does-the-us-really-subsidize-canada-like-trump-says-it-does/

[DB]

The military is a tricky one. Canada spends about 1.3% of its GDP on the military. NATO members are supposed to spend 2% of their GDP on their military. So in that sense they are getting a free ride. But that 0.7% they fall short on is about $11 billion, not $200 billion. They've done that for a long, long time.

[Timber Rattler]

We all know what Trump is trying to do

But, now with threats to put tariffs on Europe too, it's almost to the point where he's starting to create a "Hate America" backlash abroad ... not good for US companies that depend on export sales

This is how destructive trade wars start

Putin must be laughing with joy at the way his enemies are suddenly fighting among themselves!

Yeah, my wife sells stuff made in the UK and Canada (she loves the Mounties and Canadian films!) as part of her retail business, and she's already gritting her teeth at Trump over the tariff's since her import costs just went up 25-50%.  The irony and tragedy is that she had come to support him over Biden-Harris this past year over what Bidenomics was doing to her business, and was inclined to give Trump a chance with fixing the economy, but she's quickly losing patience with him and turning on him again because of these tariffs.  This does NOT need to happen!

[Timber Rattler]

Besides we really don't care what the Canuck think about the USA..

Maybe we should?   

[Right_in_Virginia]

We all know what Trump is trying to do

But, now with threats to put tariffs on Europe too, it's almost to the point where he's starting to create a "Hate America" backlash abroad ... not good for US companies that depend on export sales

This is how destructive trade wars start

Putin must be laughing with joy at the way his enemies are suddenly fighting among themselves!

You need to catch up. 

[Wingnut]

Maybe we should?   

Fck em till they get their act in order and elect a real leader and not a Justin Castro clone.

[libertybele]

Yeah, my wife sells stuff made in the UK and Canada (she loves the Mounties and Canadian films!) as part of her retail business, and she's already gritting her teeth at Trump over the tariff's since her import costs just went up 25-50%.  The irony and tragedy is that she had come to support him over Biden-Harris this past year over what Bidenomics was doing to her business, and was inclined to give Trump a chance with fixing the economy, but she's quickly losing patience with him and turning on him again because of these tariffs.  This does NOT need to happen!

So ... the heck with Trump trying to level the playing field and let America keep paying?

I still believe that eventually in the long haul President Trump will do well for our economy.

[catfish1957]

Just looked.

There are a number of Canadian banks in the US and apparently no US banks in Canada, at least not directly. No BofA for example. Wells Fargo sort of has a presence there.

Does Canada already have big tariffs on US farm products? If it does, that is a problem.

If Canada wants to protect its industry that the street goes both ways. Both sides need to stop subsidizing industry including farming.

Exactly...  Canada threw the first volley in the tariff war by imposing a 300% variety on American Dairy products.  And from my perspective has been generally fleecing us on the ledger in trade in general for decades.

Here is how I see it.   Canada is the robber who keeps hitting your house, and then he gets pissed when you install a security system. 

[IsailedawayfromFR]

We all know what Trump is trying to do

But, now with threats to put tariffs on Europe too, it's almost to the point where he's starting to create a "Hate America" backlash abroad ... not good for US companies that depend on export sales

This is how destructive trade wars start

Putin must be laughing with joy at the way his enemies are suddenly fighting among themselves!

Two can play at the 'hate game', as US is already treated unfairly

Were you aware the EU imposes a 10% tax on American-made vehicles but the US only has a 2.5% tax on European-made vehicles?

Here's a trick question for you:  Who do you think will suffer most in a trade war, the US or EU?

@Canuck Conservative

[IsailedawayfromFR]

While we have been watching DOGE work, looks like the threat of tariffs of EU autos will get tariffs lowered by the EU on American auto imports,

This is winning without spending a penny.

Auto Stocks On Watch After Report That EU Considering Reducing Tariffs On U.S. Imports
Friday, Feb 07, 2025
Auto stocks jumped mid day on Friday after the Financial Times reported that the EU is prepared to reduce its 10% tariff on US car imports to align more closely with the USA’s 2.5% rate in a bid to prevent a trade war with Donald Trump.

Names like Ford and GM both saw a bump during afternoon trading, and before paring gains slightly heading into the last few hours of trading for the week.

FT cited Bernd Lange, chair of the European Parliament’s trade committee. As part of the deal, the EU would also increase purchases of American liquefied natural gas and military equipment.

The move aims to ease tensions over the EU’s trade surplus with the US, a frequent target of Trump.

https://www.zerohedge.com/markets/auto-stocks-jump-after-report-eu-considering-reducing-tariffs-us-imports