On Friday, Felon-in-Chief Donald Trump announced that beginning Saturday, Feb. 1, he would be imposing trade tariffs on several countries, which will likely lead to much higher prices for products in the United States and alienate our allies in the European Union and Canada.
“Karoline Leavitt, the White House press secretary, said Trump will be implementing 25% tariffs on Mexico and Canada as well as a 10% duty on China, in retaliation for ‘the illegal fentanyl that they have sourced and allowed to distribute into our country,’ according to CNBC.
“The White House provided few details on exactly how the levies will be meted out, saying that they will be available for public inspection at some point Saturday.”
Trump’s tariff/trade war didn’t sit well with Canadian lawmaker Charlie Angus, and he made it clear that his nation is outraged.
“He’s threatening massive tariffs to try and break us as a people. But the threat is also being driven by the hate algorithms of oligarchs like Elon Musk,” Angus said.
“And there is the threat from people in our own country who would sell out our birthright to appease the gangster class from Mar-a-Lago. That is not going to happen.”
Angus added that he thinks Canada should impose “200%” tariffs on Musk’s “douche Panzer.”
“I would throw as much heat on Elon Musk as possible because he’s a deplorable, disgraceful human being,” Angus said.
Trump’s tariffs are expected to hit American consumers in the pocket, despite his promise during the 2024 presidential campaign that the U.S. economy would flourish under his leadership.
Among the products most likely to see an impact of Trump’s tariffs on Canada are automobiles, beef, pork, and lumber.
But perhaps the biggest sticker shock could come at the gas pump, CBS News notes.
“One unknown is whether the Trump administration will carve out some exceptions, such as for oil and gas products. Canada provides about 20% of the oil used in the U.S., which means that a 25% tariff on Canadian imports could add 30 to 40 cents a gallon at the pump within days of the new duties taking effect, Patrick De Haan, head of petroleum analysis at GasBuddy, has said.”
The last time the United States imposed massive tariffs on imports in the early 20th century, it led to the Great Depression. Another one could be just around the corner.
