The Tarriff Hype.
- Thread starter petros
- Start date
A common currency and common market, we'd all have a Merry Christmas.U.S. President Donald Trump will accept nothing short of "completely open markets" to American goods in other countries, his commerce secretary said Tuesday, as uncertainty continues over whether Canada and a host of nations can reach agreements with the United States before Trump's latest threatened tariffs are supposed to kick in Friday, etc…
(The statement comes as Canada's cabinet point-person on U.S. trade talks, Dominic LeBlanc, travels to Washington for the second time in recent days for what Prime Minister Mark Carney described Monday as an "intense" phase of negotiations before this week's deadline)
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Speaking Tuesday on U.S. television network CNBC, Commerce Secretary Howard Lutnick said Trump is ready to impose his threatened tariffs and "move on" unless deals are reached by Friday. Lutnick also said the U.S. has rejected offers from several countries, which he didn't name (?), that fall short of the access Trump wants for American exports.
"Many, many countries had made us OK offers to open their markets — you know, 50 per cent, 30 per cent … The president said, 'No, no. I want them open,'" said Lutnick.
"So now the price of a deal with the United States of America is black and white: completely open markets."
Hmmm….If that’s the case, you’d think they would’ve mentioned this six months ago without turning complete populations hostile towards the US over this Orange Arsehole & his posturing?
Trump has argued that the U.S. needs tariffs to wrest manufacturing and investment from other countries, and to correct unfair balances where the U.S. buys more from other countries than it sells to them, but that’s so…earlier this morning?
Canada seeks tariff exemptions as Donald Trump demands 'completely open markets' — Toronto Star
It remains unclear whether Canada and other countries can reach trade deals with the U.S. before Trump's threatened tariffs are supposed to kick in Friday.apple.news
Will Trump completely open the American market to everybody else and their dog? I’m kind of doubting that….
Throughout the spring, big retailers and consumer product makers warned that levies on imported goods would squeeze their operations, forcing them to choose between lower earnings and passing on higher costs to customers.
While U.S. stock indexes have soared to record highs this year, built on massive investment in technology shares, many consumer bellwethers have struggled.
Since Trump's April 2 "Liberation Day" tariff announcements, P&G shares have declined 19%; Nestle (NESN.S) is down 20%; Kimberly-Clark (KMB.O) has lost 11%, and PepsiCo (PEP.O) is off nearly 7%, while the benchmark S&P 500 (.SPX) stock index has gained more than 13%, but…
"You're going to see companies like Walmart, Amazon, and Best Buy forced to pass price increases to consumers," said Bill George, former chairman and CEO of Medtronic and executive education fellow at Harvard Business School.
"Main Street has yet to see the fallout from increased tariffs - and they're going to go higher."
Between July 16 and 25, companies in the Reuters global tariff tracker said they expected to lose a combined $7.1 billion to $8.3 billion for the full year.
GM (GM.N), Ford (F.N) and other carmakers have absorbed the cost of tariffs - totaling billions of dollars - so far.
Many companies shipped more goods and raw materials into the U.S. before tariffs hit. Economists and analysts reckon that hoarding has helped some delay hiking prices until later in the year and explains why tariffs have not yet shown up in U.S. inflation data.
(I was part of that. The first 75 days or so since January 20th where nuts…)
apple.news
While U.S. stock indexes have soared to record highs this year, built on massive investment in technology shares, many consumer bellwethers have struggled.
Since Trump's April 2 "Liberation Day" tariff announcements, P&G shares have declined 19%; Nestle (NESN.S) is down 20%; Kimberly-Clark (KMB.O) has lost 11%, and PepsiCo (PEP.O) is off nearly 7%, while the benchmark S&P 500 (.SPX) stock index has gained more than 13%, but…
"You're going to see companies like Walmart, Amazon, and Best Buy forced to pass price increases to consumers," said Bill George, former chairman and CEO of Medtronic and executive education fellow at Harvard Business School.
"Main Street has yet to see the fallout from increased tariffs - and they're going to go higher."
Between July 16 and 25, companies in the Reuters global tariff tracker said they expected to lose a combined $7.1 billion to $8.3 billion for the full year.
GM (GM.N), Ford (F.N) and other carmakers have absorbed the cost of tariffs - totaling billions of dollars - so far.
Many companies shipped more goods and raw materials into the U.S. before tariffs hit. Economists and analysts reckon that hoarding has helped some delay hiking prices until later in the year and explains why tariffs have not yet shown up in U.S. inflation data.
(I was part of that. The first 75 days or so since January 20th where nuts…)
Trump gets tariffs; Americans get price hikes — Reuters
U.S. President Donald Trump is getting his tariffs. Companies are making it clear how they intend to deal with it - passing them on to American consumers.
Wow. Tough one.Throughout the spring, big retailers and consumer product makers warned that levies on imported goods would squeeze their operations, forcing them to choose between lower earnings and passing on higher costs to customers.
How much revenue has it generated? Is spending revenue better than spending debt?Throughout the spring, big retailers and consumer product makers warned that levies on imported goods would squeeze their operations, forcing them to choose between lower earnings and passing on higher costs to customers.
While U.S. stock indexes have soared to record highs this year, built on massive investment in technology shares, many consumer bellwethers have struggled.
Since Trump's April 2 "Liberation Day" tariff announcements, P&G shares have declined 19%; Nestle (NESN.S) is down 20%; Kimberly-Clark (KMB.O) has lost 11%, and PepsiCo (PEP.O) is off nearly 7%, while the benchmark S&P 500 (.SPX) stock index has gained more than 13%, but…
"You're going to see companies like Walmart, Amazon, and Best Buy forced to pass price increases to consumers," said Bill George, former chairman and CEO of Medtronic and executive education fellow at Harvard Business School.
"Main Street has yet to see the fallout from increased tariffs - and they're going to go higher."
Between July 16 and 25, companies in the Reuters global tariff tracker said they expected to lose a combined $7.1 billion to $8.3 billion for the full year.
GM (GM.N), Ford (F.N) and other carmakers have absorbed the cost of tariffs - totaling billions of dollars - so far.
Many companies shipped more goods and raw materials into the U.S. before tariffs hit. Economists and analysts reckon that hoarding has helped some delay hiking prices until later in the year and explains why tariffs have not yet shown up in U.S. inflation data.
(I was part of that. The first 75 days or so since January 20th where nuts…)
Trump gets tariffs; Americans get price hikes — Reuters
U.S. President Donald Trump is getting his tariffs. Companies are making it clear how they intend to deal with it - passing them on to American consumers.
The industry I’m in (logistics) saw a huge surge in purchasing by the wholesalers (RV Dealers) trying to stay ahead of tariffs and perspective reciprocal tariffs, and reciprocal reciprocal tariffs, reciprocal reciprocal reciprocal tariffs, etc…& now a big lull…with still concerns about what Trump might do Aug 1st, & what Canada might do in response…
We won’t see the big punchline until into the fall, when next year’s models come out, & we see what purchasing on the wholesale level looks like at that point….
And from the time this all started an RV is 10% cheaper in CAD than it was in January.
Retail, and new 2026’s in theory should be coming out in 2 to 3 months normally, but some are out now just trying to promote sales for manufacturers and dealerships.
6 months ago USD was $1.44 today $1.37
In January CAD a low of $0.69 today it sits at $0.735
That's a big drop in the gap. That gap tightening is what will set the Canadian economy on fire.
The United States will impose a 50% tariff on copper pipes and wiring, President Donald Trump said on Wednesday, but details of the levy fell short of the sweeping restrictions expected and left out copper input materials such as ores, concentrates and cathodes.
U.S. Comex copper futures plunged 19.5% after the announcement, quickly unwinding a premium over the London global benchmark that had grown in recent weeks as traders had assumed U.S. copper mines would see a financial benefit from the tariff.
"Copper is being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States," Trump said in his proclamation. Ya think? Try aluminum….steel? Lumber? Potash? Heavy Crude? Etc…
apple.news
(The move is essentially a boost to Chile and Peru, two of the world's largest copper miners)
Trump said he may (so also may not?) still impose further tariffs, and has asked Lutnick to provide an update on the domestic copper market by June 2026. At that point, Trump will evaluate whether to impose a phased universal import duty on refined copper of 15% starting in 2027, and of 30% starting in 2028, etc…he said.
U.S. Comex copper futures plunged 19.5% after the announcement, quickly unwinding a premium over the London global benchmark that had grown in recent weeks as traders had assumed U.S. copper mines would see a financial benefit from the tariff.
"Copper is being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States," Trump said in his proclamation. Ya think? Try aluminum….steel? Lumber? Potash? Heavy Crude? Etc…
Trump imposes scaled-back copper tariff, US prices plunge — Reuters
The United States will impose a 50% tariff on copper pipes and wiring, President Donald Trump said on Wednesday, but details of the levy fell short of the sweeping restrictions expected and left out copper input materials such as ores, concentrates and cathodes.
Trump said he may (so also may not?) still impose further tariffs, and has asked Lutnick to provide an update on the domestic copper market by June 2026. At that point, Trump will evaluate whether to impose a phased universal import duty on refined copper of 15% starting in 2027, and of 30% starting in 2028, etc…he said.
. That & diplomatic bonds & relationships, etc… be a real shitty situation in another 3 1/2 years when Trump is gone (assuming he steps down, or isn’t voted in for a third term), if the whole world has a grudge against your nation.(Few if any could touch America military but, given time, he might’ve made it a pariah, at least as far as it’s word goes in finance and trade)
Ontario officially cancels $100M Starlink contract, won’t say cost to taxpayers
The deal would have delivered high-speed internet to 15,000 residents in rural and northern Ontario.
Author of the article:Canadian Press
Canadian Press
Liam Casey
Published Jul 30, 2025 • Last updated 9 hours ago • 2 minute read
Ontario has officially cancelled its $100-million contract with Starlink, but the province refuses to say how much it cost taxpayers to get out of the deal.
Energy and Mines Minister Stephen Lecce did not answer numerous questions Wednesday about the kill fee the province will have to pay Elon Musk’s SpaceX.
“ I can confirm we’ve cancelled the contract at this point, and we look forward to bringing forth alternatives to the people of Ontario so we can get people connected,” Lecce said at an unrelated press conference.
Infrastructure Minister Kinga Surma announced the deal last year to deliver high-speed internet to 15,000 residents in rural and northern Ontario.
The deal, which was set to go live in June, would have covered hardware and installation costs but not monthly fees.
It would have also included Starlink access for remote First Nations, after a promising test run in 2020 in Pinkangikum First Nation saw high-speed internet working within 15 minutes of hardware delivery.
SpaceX won the contract after a “robust and transparent and competitive and fair technical and financial evaluation of multiple qualified parties,” Michael Lindsay, the former CEO of Infrastructure Ontario, said last year.
Ontario Premier Doug Ford threatened to cancel the contract in February if U.S. tariffs on Canadian goods were imposed. He killed the deal in March when U.S. President Donald Trump moved ahead with tariffs.
“It’s done, it’s gone,” Ford said at the time. “We won’t award contracts to people who enable and encourage economic attacks on our province … and our country.”
Musk supported Trump’s bid to become president and was brought into Trump’s inner circle after his inauguration in January.
Not long after that, Musk glommed on to Trump’s threats to annex Canada.
In February, a petition signed by several hundred thousand Canadians demanded the federal government remove Musk’s Canadian citizenship. Musk became a Canadian citizen because his mother was born in Canada.
“Canada is not a real country,” Musk posted on X at the time.
Musk and Trump have since fallen out of favour with one another.
Ford’s cancellation of the deal came as part of a suite of measures in retaliation to Trump’s tariffs.
He pulled American booze off the shelves of Liquor Control Board of Ontario stores in March and has said the U.S. booze ban will be kept in place until Trump removes his tariffs on Canada.
Ford also banned American companies from bidding on $30 billion worth of procurement contracts the province awards each year.
He also banned U.S. companies from bidding on contracts related to his $200-billion infrastructure plan to build highways, tunnels, transit, hospitals and jails.
“We are standing up for Canada,” Lecce said Wednesday.
Ford should have secured an internet deal by now for those in northern and rural Ontario, said New Democrat and Official Opposition Leader Marit Stiles
“What is the premier’s plan to deliver on this promise to Ontarians? Handing over hard-earned tax dollars to Elon Musk’s company was never the right approach,” she said.
“Months have passed and we still don’t have a plan or even a process that’s calling for home-grown solutions.”
torontosun.com
The deal would have delivered high-speed internet to 15,000 residents in rural and northern Ontario.
Author of the article:Canadian Press
Canadian Press
Liam Casey
Published Jul 30, 2025 • Last updated 9 hours ago • 2 minute read
Ontario has officially cancelled its $100-million contract with Starlink, but the province refuses to say how much it cost taxpayers to get out of the deal.
Energy and Mines Minister Stephen Lecce did not answer numerous questions Wednesday about the kill fee the province will have to pay Elon Musk’s SpaceX.
“ I can confirm we’ve cancelled the contract at this point, and we look forward to bringing forth alternatives to the people of Ontario so we can get people connected,” Lecce said at an unrelated press conference.
Infrastructure Minister Kinga Surma announced the deal last year to deliver high-speed internet to 15,000 residents in rural and northern Ontario.
The deal, which was set to go live in June, would have covered hardware and installation costs but not monthly fees.
It would have also included Starlink access for remote First Nations, after a promising test run in 2020 in Pinkangikum First Nation saw high-speed internet working within 15 minutes of hardware delivery.
SpaceX won the contract after a “robust and transparent and competitive and fair technical and financial evaluation of multiple qualified parties,” Michael Lindsay, the former CEO of Infrastructure Ontario, said last year.
Ontario Premier Doug Ford threatened to cancel the contract in February if U.S. tariffs on Canadian goods were imposed. He killed the deal in March when U.S. President Donald Trump moved ahead with tariffs.
“It’s done, it’s gone,” Ford said at the time. “We won’t award contracts to people who enable and encourage economic attacks on our province … and our country.”
Musk supported Trump’s bid to become president and was brought into Trump’s inner circle after his inauguration in January.
Not long after that, Musk glommed on to Trump’s threats to annex Canada.
In February, a petition signed by several hundred thousand Canadians demanded the federal government remove Musk’s Canadian citizenship. Musk became a Canadian citizen because his mother was born in Canada.
“Canada is not a real country,” Musk posted on X at the time.
Musk and Trump have since fallen out of favour with one another.
Ford’s cancellation of the deal came as part of a suite of measures in retaliation to Trump’s tariffs.
He pulled American booze off the shelves of Liquor Control Board of Ontario stores in March and has said the U.S. booze ban will be kept in place until Trump removes his tariffs on Canada.
Ford also banned American companies from bidding on $30 billion worth of procurement contracts the province awards each year.
He also banned U.S. companies from bidding on contracts related to his $200-billion infrastructure plan to build highways, tunnels, transit, hospitals and jails.
“We are standing up for Canada,” Lecce said Wednesday.
Ford should have secured an internet deal by now for those in northern and rural Ontario, said New Democrat and Official Opposition Leader Marit Stiles
“What is the premier’s plan to deliver on this promise to Ontarians? Handing over hard-earned tax dollars to Elon Musk’s company was never the right approach,” she said.
“Months have passed and we still don’t have a plan or even a process that’s calling for home-grown solutions.”
Ontario officially cancels $100M Starlink contract, won’t say cost to taxpayers
The deal would have delivered high-speed internet to 15,000 residents in rural and northern Ontario.
Good. You want internet? Pay for it. Can't pay for it? Get a job. Can't get a job in your area? Move.
(Canada is the second-largest U.S. trading partner after Mexico, and the largest buyer of U.S. exports. It bought $349.4 billion of U.S. goods last year and exported $412.7 billion to the U.S., according to U.S. Census Bureau data)
This is a new one…
apple.news
This is a new one…
Trump escalates trade war with Canada following Palestine stance — Reuters
U.S. President Donald Trump intensified his trade war with Canada a day ahead of his August 1 deadline for a tariff agreement, saying it would be "very hard" to make a deal with Canada after it gave its support to Palestinian statehood.
my fear is that we are going to punished for being pro palestine/muslim by being hit with 100% terroriffs on everything.(Canada is the second-largest U.S. trading partner after Mexico, and the largest buyer of U.S. exports. It bought $349.4 billion of U.S. goods last year and exported $412.7 billion to the U.S., according to U.S. Census Bureau data)
This is a new one…
View attachment 30255Trump escalates trade war with Canada following Palestine stance — Reuters
U.S. President Donald Trump intensified his trade war with Canada a day ahead of his August 1 deadline for a tariff agreement, saying it would be "very hard" to make a deal with Canada after it gave its support to Palestinian statehood.
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