The Bunker – News without the nonsense Trade war of the worlds — Start Your Week with Gavin Esler and Ros Taylor
Feb 3, 2025
Dive into the turmoil of Trump’s trade war as tariffs hit imports from Mexico, Canada, and China, threatening global relations. Explore Canada’s retaliation strategies and the ripple effects on the auto industry and workers. Delve into the rising nationalism linked to migration issues and critique potential solutions. The intertwining of government and business, highlighted by Elon Musk’s controversies, paints a complex political landscape as the UK navigates its post-Trump reality. Buckle up for a whirlwind discussion!
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Historical Precedent for Tariffs
- Trump's trade war tariffs follow a historical pattern, the 1930 Smoot-Hawley Tariff Act.
- This act significantly reduced US imports and exports, contributing to the Great Depression.
Intertwined Economies of US and Canada
- The US-Canada trade relationship is deeply intertwined, especially in the automotive industry.
- Tariffs on Canadian goods will likely negatively impact both economies.
Canadian Backlash Against Tariffs
- A US ice hockey team was booed in Ottawa, demonstrating Canadian resentment towards the tariffs.
- American products are being removed from Canadian stores, promoting domestic alternatives.