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🚨 TRUMP IS THREATING CANADA WITH 100% TARIFFS IF THEY SIGN A TRADE DEAL WITH CHINA ! 👀 $ENSO
CANADA sends about 73%-77% of all its exports to the U.S. That is over $450 billion per year. A 100% tariff would make most Canadian exports uncompetitive overnight.
His core concern is trade routing. If Canada signs special trade agreements with China, Chinese companies could move goods into Canada first and then send them into the U.S., bypassing American tariffs. Trump calls this using Canada as a drop off port. That would completely break U.S. trade policy against China.
We have already seen what tariffs can do.
In 2018-2019, the U.S imposed 25% tariffs on Canadian steel, 10% tariffs on Canadian aluminum. And Canadian steel exports to the U.S. fell by 41% and Aluminum exports fell by 19%. $RIVER
About $16.6 billion CAD of trade was disrupted. Some Canadian plants cut production and jobs. Supply chains became slower and more expensive
And that happened with just 10%-20% tarrifs. But now Trump is talking about 100% tariffs.
That would hit Autos and auto parts, Energy exports, Aluminum, manufacturing and steel.
Canada’s economy is deeply linked to the U.S. Trade with the U.S. equals roughly two thirds of Canada’s GDP when you include direct and indirect exposure.
At the same time, Canada has been trying to rebuild trade with China.
China is a major buyer of Canadian agriculture like canola and seafood, Canada wants access to Chinese EV and battery supply chains, Canada wants to reduce dependence on a single trading partner.$XAU
Economically, that makes sense for Canada. Politically, it puts Canada in the middle of the U.S.-China conflict where Canadian economy will face a major economic shock along with the markets.
#GrayscaleBNBETFFiling #TrumpCanadaTrade #Trumpchinatariffs
CANADA sends about 73%-77% of all its exports to the U.S. That is over $450 billion per year. A 100% tariff would make most Canadian exports uncompetitive overnight.
His core concern is trade routing. If Canada signs special trade agreements with China, Chinese companies could move goods into Canada first and then send them into the U.S., bypassing American tariffs. Trump calls this using Canada as a drop off port. That would completely break U.S. trade policy against China.
We have already seen what tariffs can do.
In 2018-2019, the U.S imposed 25% tariffs on Canadian steel, 10% tariffs on Canadian aluminum. And Canadian steel exports to the U.S. fell by 41% and Aluminum exports fell by 19%. $RIVER
About $16.6 billion CAD of trade was disrupted. Some Canadian plants cut production and jobs. Supply chains became slower and more expensive
And that happened with just 10%-20% tarrifs. But now Trump is talking about 100% tariffs.
That would hit Autos and auto parts, Energy exports, Aluminum, manufacturing and steel.
Canada’s economy is deeply linked to the U.S. Trade with the U.S. equals roughly two thirds of Canada’s GDP when you include direct and indirect exposure.
At the same time, Canada has been trying to rebuild trade with China.
China is a major buyer of Canadian agriculture like canola and seafood, Canada wants access to Chinese EV and battery supply chains, Canada wants to reduce dependence on a single trading partner.$XAU
Economically, that makes sense for Canada. Politically, it puts Canada in the middle of the U.S.-China conflict where Canadian economy will face a major economic shock along with the markets.
#GrayscaleBNBETFFiling #TrumpCanadaTrade #Trumpchinatariffs
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