Yesterday, the economically illiterate Malignant Fascist imposed a 25% tariff on auto imports, a move that will not just damage our main trading partner, Canada, but will damage American consumers and car dealers with higher costs and, along with the moron's other tariffs, lead to higher inflation. The moron madman is calling it "Liberation Day." Here's how our friend and ally Canada is properly reacting:
Canadian Prime Minister Mark Carney said Wednesday that U.S. President Donald Trump’s auto tariffs are a “direct attack” on his country and that the trade war is hurting Americans, noting that American consumer confidence is at a multi-year low.
Trump said earlier Wednesday that he was placing 25% tariffs on auto imports and, to underscore his intention, he stated, “This is permanent.” [snip]
Autos are Canada’s second-largest export. Carney noted the sector employs 125,000 Canadians directly and almost another 500,000 in related industries.
“Canada will be there for auto workers,” he said. [snip]
The president has plunged the U.S. into a global trade war — all while on-again, off-again new levies continue to escalate uncertainty.
The Conference Board reported Tuesday that its U.S consumer confidence index fell 7.2 points in March to 92.9, the fourth straight monthly decline and its lowest reading since January of 2021.
“His trade war is hurting American consumers and workers and it will hurt more. I see that American consumer confidence is at a multi-year low,” Carney said earlier while campaigning in Windsor, Ontario ahead of Canada’s April 28 election.
The tax hike on auto imports starting in April means automakers could face higher costs and lower sales. [snip]
Trump previously placed 25% tariffs on Canada’s steel and aluminum and is threatening sweeping tariffs on all Canadian products — as well as on all of America’s trading partners — on April 2.
“He wants to break us so America can own us,” Carney said. “And it will never ever happen because we just don’t look out for ourselves, we look out for each other.”... (our emphasis)
Please note that vehicles made in Canada (and Mexico and China) include American brands, too, which will be subject to the tariff.
The trend on the consumer confidence index Carney pointed to looks like this:
Meanwhile, expectations for inflation, based on the Malignant Fascist's aberrant actions and policies have shot up:
Carney continues with the facts about the cross- border impact:
Carney, a former two-time central banker in Canada and the U.K., made the earlier comments while campaigning against the backdrop of the Ambassador Bridge, which is considered the busiest U.S.-Canadian border crossing, carrying 25% of all trade between the two countries. It plays an especially important role in auto manufacturing.
Carney said the bridge carries $140 billion Canadian dollars ($98 billion) in goods every year and CA$400 million ($281 million) per day.
“Now those numbers and the jobs and the paychecks that depend on that are in question,” Carney said. “The relationship between Canada and the United States has changed. We did not change it.”
In the auto sector, parts can go back and forth across the Canada-U.S. border several times before being fully assembled in Ontario or Michigan.
Ontario Premier Doug Ford, whose province has the bulk of Canada’s auto industry, said auto plants on both sides the border will shut simultaneously if the tariffs go ahead.
“President is calling it Liberation Day. I call it Termination Day for American workers. I know President Trump likes tell people ’Your fired!” I didn’t think he meant U.S. auto workers when he said it,” Ford said.... (our emphasis)
Of course, our auto- exporting friends and allies in Europe and Asia will also suffer similar impacts on their auto industries and will almost certainly take retaliatory measures.
You couldn't plan a better way of sabotaging our economy and that of your friends and allies if Putin was drawing it up in the Kremlin... Oh, right ...
(Photo: Chrysler vehicles made in Canada crossing the Ambassador Bridge in Windsor, Ontario/ via CNN)
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