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World awaits Trump tariff deadline on Canada, Mexico and China (www.news.com.au)

submitted 1 year ago by Aussieiuszko@aussie.zone to c/world@quokk.au

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With less than 24 hours before President Donald Trump's deadline to impose sweeping tariffs on the three biggest US trading partners -- Canada, Mexico and China -- the global economy is bracing for impact.

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[–] sonori@beehaw.org 2 points 1 year ago* (last edited 1 year ago)

I mean I think an effective 60% increase in the cost of oil and gas for Trump is a lot more ruthless than some terrifs on luxury goods, which seems to be the current preferred option, as Amarican industry and Trump’s base is going to care a lot more about that than an slight decrease in Canadian sales.

Moreover, if you halt exports altogether than US companies just substitutes alternate suppliers, export taxes by contrast are far more likely to result in Us companies paying the higher fee in hopes that things will return to normal soon, and thusly have more of an impact on prices in the US.