Post tariff world

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HouTexNorton said:
And services are not included in trade deficits, only goods, and the US is the world leader, particularly financial and software. Why the US needs to increase manufacturing is beyond me (with some exceptions like automobiles and chips)-we just can't compete with all of the cheap overseas labor for most goods. Our service industries provide better high paying jobs.
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The top guy wants to bring " Hello Dolly" to the Kennedy Centre for the Performing Arts, so we know which decade he's aiming for ( 1960s)
Good that you mention services.
When services are added in, the US has a Trade surplus with Canada , other than Oil. With Oil, the US buys CDN crude at a low price and refines it.
They are very good at that and turn $100 of oil into $300 of product, some of which gets exported.
So this oil trade deficit with Canada is actually a very profitable thing. The US would make even more money if they could bring in more Canadian oil, which we could do, however US refining capacity is at near max now.
Trump has placed a 10% Tariff on the CDN oil exports. I don't think that will slow them down at all, not when there is 300% to be made plus the oil is needed to keep things running.
 
worntorn said:
The top guy wants to bring " Hello Dolly" to the Kennedy Centre for the Performing Arts, so we know which decade he's aiming for ( 1960s)
Good that you mention services.
When services are added in, the US has a Trade surplus with Canada , other than Oil. With Oil, the US buys CDN crude at a low price and refines it.
They are very good at that and turn $100 of oil into $300 of product, some of which gets exported.
So this oil trade deficit with Canada is actually a very profitable thing. The US would make even more money if they could bring in more Canadian oil, which we could do, however US refining capacity is at near max now.
Trump has placed a 10% Tariff on the CDN oil exports. I don't think that will slow them down at all, not when there is 300% to be made plus the oil is needed to keep things running.
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Did you ever notice that nobody ever bashes the flying shit out of Canada's elected leaders?

No, probably not.
 
concours said:
Did you ever notice that nobody ever bashes the flying shit out of Canada's elected leaders?

No, probably not.
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Yes some do.
Trump has been calling our Prime Minister " the Governor of the State of Canada" for months now, as part of his almost daily threats against our Sovereignty.
 
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Mark Carney was governor of the Bank of England for about a decade, until a couple of years ago. He was pretty sensible in that job. He was well respected.

Trump would have met him then, probably the word 'Governor' stuck in his mind.
 
Mart UK said:
Mark Carney was governor of the Bank of England for about a decade, until a couple of years ago. He was pretty sensible in that job. He was well respected.

Trump would have met him then, probably the word 'Governor' stuck in his mind.
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Actually it was Carney's immediate predecessor, Justin Trudeau whom Trump referred to as " Governor of the 51st State of Canada"
It was Trump's attempt to humiliate Trudeau and it was repeated many times, always said with a sneer.
Strangley, it had the effect of uniting Canada behind Trudeau, even though a lot of us weren't exactly crazy about the guy.
It will be interesting to see how Carney gets on with Trump.
So far it seems to be a bit better relationship, but that could all change with a late night Tweet.

The 104 percent Tariffs against China with the 84 percent retaliatory Chinese tariffs are going to be interesting to watch.
What happens with Tariffs of that size, does it just immediately shut down trade between the two Countries?
In Canada we are relieved that the battle has moved away from us for a little while at least, although Tariffs and counter Tariffs remain.

Looking at the Aluminium data above, I cant imagine much changing for Canada there, other than a big price increase for aluminium bodied US built Ford trucks and anything else made out of Aluminium in the USA. That will be a lot of items.
I think pretty much all car engines now are aluminium block and heads?


Glen
 
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HouTexNorton said:
And services are not included in trade deficits, only goods, and the US is the world leader, particularly financial and software. Why the US needs to increase manufacturing is beyond me (with some exceptions like automobiles and chips)-we just can't compete with all of the cheap overseas labor for most goods. Our service industries provide better high paying jobs.
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That’s what many people around the world are saying as well
 
Mart UK said:
Mark Carney was governor of the Bank of England for about a decade, until a couple of years ago. He was pretty sensible in that job. He was well respected.

Trump would have met him then, probably the word 'Governor' stuck in his mind.
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Our present P.M. Mark Carney is a Canadian and was a former governor of the Bank of Canada before he went to England. I feel he is very qualified to lead Canada through this tariff challenge
 
HouTexNorton said:
And services are not included in trade deficits, only goods, and the US is the world leader, particularly financial and software. Why the US needs to increase manufacturing is beyond me (with some exceptions like automobiles and chips)-we just can't compete with all of the cheap overseas labor for most goods. Our service industries provide better high paying jobs.
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To protect us from the whims of othe rnations, ( yes I see the irony in that statement)? WW2 was fought on the. battlefields of Europe and Asia but was won by the manufacturing might of the US. Just a few short years ago the whole world was crying about supply chain issues due to covid. And who remembers the " Putin price hikes" as the former administration called the runaway inflation caused by poor economic policy? The only way to ever achieve a true WORKING global economy is with one global government, and nobody really thinks that will work do they?
 
MikeG said:
To protect us from the whims of othe rnations, ( yes I see the irony in that statement)? WW2 was fought on the. battlefields of Europe and Asia but was won by the manufacturing might of the US. Just a few short years ago the whole world was crying about supply chain issues due to covid. And who remembers the " Putin price hikes" as the former administration called the runaway inflation caused by poor economic policy? The only way to ever achieve a true WORKING global economy is with one global government, and nobody really thinks that will work do they?
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Canadians and Brits also tend to look at the Western Front as being WW2, as that was where we fought.
In fact 80 percent of all WW2 Combat was on the Eastern front with the Soviets.
Its fair to say it took everything all the Allies had to stop Germany, but without the Soviet manufacturing and Military things would probably have gone the other way for all of us.

Glen
 
MikeG said:
To protect us from the whims of othe rnations, ( yes I see the irony in that statement)? WW2 was fought on the. battlefields of Europe and Asia but was won by the manufacturing might of the US. Just a few short years ago the whole world was crying about supply chain issues due to covid. And who remembers the " Putin price hikes" as the former administration called the runaway inflation caused by poor economic policy? The only way to ever achieve a true WORKING global economy is with one global government, and nobody really thinks that will work do they?
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That's why I said "with some exceptions", which would be the ones that protect us from those whims. The US doesn't need to be manufacturing a lot of unnecessary goods with low paying jobs. Targeted countries/industries tariffs would seem like a better game plan and hopefully that's how this will end up.
 
"The US doesn't need to be manufacturing a lot of unnecessary goods with low paying jobs."


Define those please.
 
The can opener.
No need to reinvent the canopener since the can of worms has opened. Although there is probably 1 or 2 in the kitchen drawer that don't work and never have
 
BERT said:
The can opener.
No need to reinvent the canopener since the can of worms has opened. Although there is probably 1 or 2 in the kitchen drawer that don't work and never have
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Great example. I've worked the metal trades my entire life. Double action presses at 16yo.
Churning out QUALITY, inexpensive tools was, and can be done here.
Not sure how that is on the "unnecessary" list posted by @HouTexNorton
 
concours said:
Great example. I've worked the metal trades my entire life. Double action presses at 16yo.
Churning out QUALITY, inexpensive tools was, and can be done here.
Not sure how that is on the "unnecessary" list posted by @HouTexNorton
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The ones in the drawer that don't work are unnecessary
 
concours said:
Great example. I've worked the metal trades my entire life. Double action presses at 16yo.
Churning out QUALITY, inexpensive tools was, and can be done here.
Not sure how that is on the "unnecessary" list posted by @HouTexNorton
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But are people willing to pay the price for US made tools?
Last time I was in the US, it was really hard to find non Chinese goods in Sears for example.
Was in a Walmart once, exactly the same experience
 
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