The Tarriff Hype.

[Ron in Regina]

Now I’m assuming (I know, ass/u/ming) that the volume of potash imported from Russia to America of 11% in 2023 has decreased since that whole Ukraine invasion (I mean, I could be wrong here), and someone other that Belarus has been making up that shortfall? Rhymes with Zanada?

US Lifts Belarus Potash Sanctions After Lukashenko Releases 123 Political Prisoners, Including Nobel Laureate — Benzinga

The United States lifted sanctions on Belarusian potash exports on Saturday after Belarusian President Alexander Lukashenko freed 123 political prisoners, the largest release since diplomatic talks between Washington and Minsk began. Trump Envoy Negotiates Prisoner Release The release came after...

apple.news

The United States lifted sanctions on Belarusian potash exports on Saturday after Belarusian President Alexander Lukashenko freed 123 political prisoners, the largest release since diplomatic talks between Washington and Minsk began.




Canada supplies the vast majority of potash to the U.S., with recent data showing it accounts for over 80% to 87% of U.S. imports, primarily from Saskatchewan mines, a crucial source for American agriculture. The United States produces a very small percentage of its annual potash use domestically, typically around 2% to 10%, with recent data from 2023 and 2024 indicating a domestic production share closer to 2%.

America imports most of its potash because domestic reserves aren't enough to meet huge demand, Canadian potash is geographically close, cheaper to transport, and readily available via established infrastructure, unlike costly overseas options from Russia or Belarus which face political issues.

Developing new U.S. mines is time-consuming and expensive, and relying on other global suppliers introduces geopolitical risks and higher shipping costs…so maybe Trump can kickstart that before the 2026 planting season in…about 6-8 weeks or so?

 

[bob the dog]

30 % credit is a big incentive. Chromite recently added to the list. Beware of unruly accountants was my first thought.

These 12 critical minerals just got a tax credit boost that could spark a new wave of exploration

A federal incentive aims to boost early-stage exploration of a dozen newly eligible critical minerals. Find out more here

financialpost.com

 

[Ron in Regina]

Prime Minister Mark Carney says he does not expect that Canada and the U.S. will reach a near-term deal to end President Donald Trump’s tariffs on steel, aluminum, autos and other sectors, and that these negotiations will instead become part of a coming review of the pact that governs continental trade.

Speaking to reporters in Ottawa on Thursday before signing an agreement with Ontario Premier Doug Ford to speed up approvals for infrastructure projects, Mr. Carney said the review of the United States-Mexico-Canada Agreement would absorb the talks on Mr. Trump’s punishing sectoral tariffs

The review of the deal, referred to as USMCA by the U.S. government and CUSMA by the Canadian government, is expected to happen next year, but an exact timeline has not been established.

This means that it could be another year, or more, before the countries reach an agreement to lift or reduce Mr. Trump’s levies, or not, prolonging the pain across several sectors of Canada’s economy.

Carney says U.S.-Canada trade deal unlikely to happen in near future — The Globe and Mail

PM says issues will be discussed as part of USMCA review, which isn’t scheduled until July 1

apple.news

 

[pgs]

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Prime Minister Mark Carney says he does not expect that Canada and the U.S. will reach a near-term deal to end President Donald Trump’s tariffs on steel, aluminum, autos and other sectors, and that these negotiations will instead become part of a coming review of the pact that governs continental trade.
View attachment 32303
Speaking to reporters in Ottawa on Thursday before signing an agreement with Ontario Premier Doug Ford to speed up approvals for infrastructure projects, Mr. Carney said the review of the United States-Mexico-Canada Agreement would absorb the talks on Mr. Trump’s punishing sectoral tariffs

The review of the deal, referred to as USMCA by the U.S. government and CUSMA by the Canadian government, is expected to happen next year, but an exact timeline has not been established.

This means that it could be another year, or more, before the countries reach an agreement to lift or reduce Mr. Trump’s levies, or not, prolonging the pain across several sectors of Canada’s economy.

Carney says U.S.-Canada trade deal unlikely to happen in near future — The Globe and Mail

PM says issues will be discussed as part of USMCA review, which isn’t scheduled until July 1

apple.news

It appears Carney was not really the best positioned to negotiate with the Donald . Who would have thought .

 

[petros]

TIt appears Carney was not really the best positioned to negotiate with the Donald . Who would have thought .

Question. Which of the tariffs did Carney ask for?

Think about it. The short list of industries impacted are all energy intense. If they take a hit Canada wins on the Carbon Market.

 

[pgs]

Question. Which of the tariffs did Carney ask for?

Think about it. The short list of industries impacted are all energy intense. If they take a hit Canada wins on the Carbon Market.

Wins what ?

 

[Tecumsehsbones]

Wins what ?

ALL the stuff!

 

[pgs]

ALL the stuff!

Good to have , the one with the most toys wins .

 

[Ron in Regina]

Opinion: North American free trade is dead. The sooner Canada accepts that, the better — The Globe and Mail

As the country gears up for talks, it needs to focus on a bilateral deal

apple.news

 

[Ron in Regina]

The Smoot-Hawley Tariff Act was active from its signing by President Herbert Hoover on June 17, 1930, and remained in effect, significantly impacting global trade through the early to mid-1930s, with its harsh effects leading to renegotiations and its eventual easing under President Franklin D. Roosevelt, with major trade shifts by the mid-1930s (around 1934).

Intended to bolster domestic employment and manufacturing, the tariffs instead deepened the Depression because the U.S.'s trading partners retaliated with tariffs of their own, leading to U.S. exports and global trade plummeting.

Smoot–Hawley Tariff Act - Wikipedia

en.wikipedia.org

The process of opening world markets and expanding trade, initiated in the United States in 1934 and consistently pursued since the end of the Second World War, has played an important role in the development of American prosperity.

The U.S. shift towards free trade, beginning with the 1934 Reciprocal Trade Agreements Act(RTAA) and accelerating post-WWII through GATT/WTO, dramatically reduced global tariffs, boosted U.S. exports, encouraged competition, lowered consumer costs, and spurred American economic growth, making the U.S. a leading global economy by expanding markets and integrating it into a stable, prosperous world trade system.

Reciprocal Tariff Act - Wikipedia

en.wikipedia.org

 

[petros]

The Smoot-Hawley Tariff Act was active from its signing by President Herbert Hoover on June 17, 1930, and remained in effect, significantly impacting global trade through the early to mid-1930s, with its harsh effects leading to renegotiations and its eventual easing under President Franklin D. Roosevelt, with major trade shifts by the mid-1930s (around 1934).

Intended to bolster domestic employment and manufacturing, the tariffs instead deepened the Depression because the U.S.'s trading partners retaliated with tariffs of their own, leading to U.S. exports and global trade plummeting.

Smoot–Hawley Tariff Act - Wikipedia

en.wikipedia.org

The process of opening world markets and expanding trade, initiated in the United States in 1934 and consistently pursued since the end of the Second World War, has played an important role in the development of American prosperity.

The U.S. shift towards free trade, beginning with the 1934 Reciprocal Trade Agreements Act(RTAA) and accelerating post-WWII through GATT/WTO, dramatically reduced global tariffs, boosted U.S. exports, encouraged competition, lowered consumer costs, and spurred American economic growth, making the U.S. a leading global economy by expanding markets and integrating it into a stable, prosperous world trade system.

Reciprocal Tariff Act - Wikipedia

en.wikipedia.org

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You're old enough to remember the impact of tariffs Vs counter-tariffs.

I was pickled think when free trade came along. I didn't have to smuggle tools and auto parts from WA any longer.

Air tools had a 200% duty at the border so even with $0.69 cent dollar the savings made it highly lucrative to stuff a few Chicago Pneumatics 3/4' impact driver's under the back seat of my Lincoln Continental Town Car every couple weeks.

 

[Ron in Regina]

You're old enough to remember the impact of tariffs Vs counter-tariffs.

I was pickled think when free trade came along. I didn't have to smuggle tools and auto parts from WA any longer.

Air tools had a 200% duty at the border so even with $0.69 cent dollar the savings made it highly lucrative to stuff a few Chicago Pneumatics 3/4' impact driver's under the back seat of my Lincoln Continental Town Car every couple weeks.

Knew a guy with a similar story from Eastern (centre of the Universe-ish) Canada, except it was marijuana he was smuggling up. They eventually busted him though for illegal parking.

He was thoroughly drunk, and he managed to park his Cadillac inside of his ex-wife’s living room. They frown on that, I guess.

 

[petros]

Knew a guy with a similar story from Eastern (centre of the Universe-ish) Canada, except it was marijuana he was smuggling up. They eventually busted him though for illegal parking.

He was thoroughly drunk, and he managed to park his Cadillac inside of his ex-wife’s living room. They frown on that, I guess.

I only got caught once but it was fireworks. Just a seizure, no penalty. I got lucky, normally a trip to Lummi Island Rez was "other goods".