Trade deficits surge to record highs in U.S., Canada

[White_Unifier]

https://www.cbc.ca/news/business/trade-deficit-canada-us-december-1.5044718

'Both countries buying more from rest of world while selling less than ever before'

Canada and the US engage in a trade war and by doing so, we both lose to the rest of the world. Who woulda thunk it possible?

 

[taxslave]

We could fix that with a couple of pipelines. We could also significantly increase manufacturing exports by eliminating many of the rules and government mandated expenses that other countries don't have.

 

[petros]

Stop devaluing our dollar to offset outrageous labour costs on behalf of ON.

Sink or swim.

 

[Curious Cdn]

I guess that all of Trump's tariff bullshyte isn't working.

 

[Curious Cdn]

Stop devaluing our dollar to offset outrageous labour costs on behalf of ON.
Sink or swim.

What are you babbling about, now?

 

[White_Unifier]

What are you babbling about, now?

Trump forgot to factor in one important consumer: manufacturers themselves who import raw materials, machinery, and other products to help them stay efficient. He also forgot ot facter in labour costs. Tariffs increase cost of living which in turn pushes wages up which in turn increaes overhead costs. By raising tariffs, Trump just raised the cost of doing business. Worse yet, while any tax will raise the cost of doing business, tariffs cut into economies of scale just to add insult to injury. In other words, Trump didn't just raise taxes, but raise the worst possible tax.