Trump says 25% Canada, Mexico tariffs to take effect on Tuesday; stocks tumble

[SteveG]

And his marching morons in Congress will back him 100%

https://www.reuters.com/business/autos-t...025-03-03/

WASHINGTON, March 3 (Reuters) - U.S. President Donald Trump said on Monday that 25% tariffs on goods from Mexico and Canada will definitely take effect on Tuesday, raising fears of a trade war in North America and sending financial markets reeling.

"They're going to have to have a tariff. So what they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs," Trump said at the White House. He said there was "no room left" for a deal that would avert the tariffs by curbing fentanyl flows into the United States.

Trump's comments sent U.S. stocks down sharply in late afternoon trading. The dollar rose against the Mexican peso and the Canadian dollar following his remarks.

Trump also said reciprocal tariffs would take effect on April 2 on countries that impose duties on U.S. products.
CEOs and economists say the action, covering more than $900 billion worth of annual U.S. imports from its southern and northern neighbors would deal a serious setback to the highly integrated North American economy.

The tariffs are scheduled to take effect at 12:01 a.m. EST
, opens new tab (0501 GMT) on Tuesday. At that point Canada and Mexico face tariffs of 25%, with 10% for Canadian energy. Mexican officials did not immediately respond to requests for comment.

[jonny]

[rgG]

Dumbass

[Ombligo]

If you are looking for a well performing stock in this mess, look at RNMBY. Rheinmetall is the German arms manufacturer and has been skyrocketing since Trump opened his mouth. It has gone up 75% in the last month (270% in the last two years).

[pdq]

Prepare to pay more for:

Cars, trucks and auto parts (Canada and Mexico)
Lumber and everything that it goes into, like houses ©
Aluminum and everything made from aluminum (C and M)
Gas and other petroleum (C and M)
Computers (M)
Medical equipment (M)
Produce (M)

…and lots more, even for things not made in or exported by these countries, as these increased costs will hit our domestic suppliers and manufacturers too.

Boy, that was one hell of a deal Trump made, huh?

[mrbigstuff]

For those of us in the northeast: electricity

[pdq]

mrbigstuff wrote:
For those of us in the northeast: electricity

…and midwest.

Used to go up to Manitoba to fish, and in that area they used to advertise their three main products/exports/attractions: peas, pickerel, and power.

[$tevie]

On a complete tangent, what do people do with pickerel? They are really ugly and bony, do people eat them anyhow?

[JoeH]

It is considered tasty, just takes care in removing the bones. Just one of many bony fresh water fish that are bit more trouble to prepare but good eating.

Also in parts of Canada they will refer to walleye pike as pickerel. Not sure about Manitoba.

[pdq]

JoeH wrote:
It is considered tasty, just takes care in removing the bones. Just one of many bony fresh water fish that are bit more trouble to prepare but good eating.

Also in parts of Canada they will refer to walleye pike as pickerel. Not sure about Manitoba.

Joe is right. What the Manitobans call “pickerel” is what we Norskies call walleye, the uncontested king of freshwater fish (or so we think) :wink: