Tax Increases and Market Paradoxes

The latest US tax increases were a 35% tax on products from Canada—in spite of Canadian concessions over digital taxes. It is not clear if the tax applies to all Canadian products, or just products not covered by the revised NAFTA (currently taxed at 25%), or to oil (currently 10%). US President Trump signaled that when they were tired of the lost art of letter writing, all remaining countries would be taxed at 15% to 20% (the penguins of the Heard and McDonald Islands thus know their fate).