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Front Burner Trump's trade war goes global
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Apr 3, 2025 Eric Miller, an international trade consultant and president of Rideau Potomac Strategy Group, provides insights into President Trump's sweeping tariffs. He explores the emotional impact on American workers, particularly in steel and agriculture, and analyzes the implications for Canada’s economy. The conversation highlights potential chaos in international trade and the risks of a global recession. Miller also discusses the contrasting effects on countries like Cambodia and Bangladesh versus those in Central America, revealing the complexities of today's shifting trade landscape.
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Trump's Liberation Day
- Trump declared April 2nd, 2025, "Liberation Day", citing a new era of economic independence.
- He used a chart to illustrate how other countries were "ripping off" the U.S. with tariffs, specifically calling out Canada's dairy tariffs.
Sweeping Tariffs
- The U.S. imposed sweeping tariffs on many countries, including close allies like Israel and the UK.
- This reshapes U.S. trade relationships and impacts countries of all sizes.
China Tariffs
- China faces a 74% average tariff after a new 34% tariff was added.
- The U.S. also restricted China's de minimis ability for low-value shipments.