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Canadian Chamber of Commerce sends stark warning about U.S. trade relationship
A new report from the Canadian Chamber of Commerce is sending a stark warning ahead of the U.S. presidential election, saying protectionist policies like Donald Trump's proposed tariffs could damage economies on both sides of the border.
The report authored by Trevor Tombe, an economics professor at the University of Calgary, said while most Canadians recognize the importance of trade with the U.S., Americans don't have the same understanding about how intricately the two countries are connected particularly at a time of geopolitical uncertainty.
Canadian officials and business groups have been meeting with Democratic and Republican counterparts across the U.S., making sure Canada is prepared for any outcome of the November election.
Both presidential candidates have campaigned on protectionist policies that could cause uncertainty for Canadian trade. Whoever takes the White House will be in charge during the review of the Canada-U.S.-Mexico agreement in 2026.
"Both parties have moved in protectionist directions for some time," Tombe said.
While Vice-President Kamala Harris is expected to stay close to the Biden administration's path on relations with Canada, last month she highlighted her opposition to the NAFTA replacement that was negotiated under the Trump administration, saying it allowed major auto companies to outsource American jobs.
Meanwhile, Trump has signalled his plans to impose a 10 per cent across-the-board tariff on imports if he gets a second term.
That proposal caused concern on both sides of the border.
Kirsten Hillman, Canada's ambassador to the U.S., has tried to appease fears by saying that Washington would likely not find it feasible to apply the tariffs in Canada's case.
If Trump's tariffs were enacted, Tombe said it would harm economies on both sides of the international border.
The report, which used models to estimate the impact of the tariffs if they become permanent, suggested the move would reduce the size of the Canadian economy between 0.9 and one per cent, resulting in around $30 billion per year in economic costs.
The report estimates the U.S. would see around US$125 billion a year in economic costs.
Things would be even worse if other countries retaliated with tariff walls of their own. In that case, Canadian incomes would fall by 1.5 per cent and productivity by 1.6 per cent, the report said.
"That's, right there, $45 billion in lost economic activity in Canada," Tombe said. "Roughly speaking, that's about half the size of your normal recession. That's a pretty big hit."
It's not the first time such a policy has been put forward in the U.S.
Tombe pointed to the 1971 "Nixon Shock," when the U.S. levied a temporary 10 per cent surcharge on imports, including from Canada.
Then, as now, Canada sought an exemption, citing its unique and integral role as a reliable trade partner.
Nixon's tariff lasted only four months before it was reversed, but research has found it resulted in a 2.6 per cent reduction in total imports into the U.S. from Canada.
The effect would likely be greater today, Tombe said, because the nature of trade between the two countries has become more complex and connected.
Some experts have warned the relationship between the two countries shifted from being strategic to transactional as Canada became less critical compared with other places in the world.
The new report said the Canada-U.S. economic relationship is massive, deeply interconnected and mutually beneficial.
It is made of "a complex web of supply chains across many sectors," the report said, with Canadian exports used by U.S. businesses as inputs to produce other goods.
"Canada-U.S. trade has cascading effects throughout the U.S. economy, with Canada serving as a critical and reliable supplier of inputs," the report said.
There are also cross-border investments, as well as exports that are harder to track in services like tourism or technology.
While the whole American economy is larger and generally less reliant on international trade flows, Canada is the top export destination for 34 states.
In Michigan, trade with Canada is valued at 14 per cent of the state's economy. It's 10.2 per cent in Illinois and 6.7 per cent in Wisconsin.
Many Midwestern states are key battleground areas in the election and trade policies impacting Canada would have a disproportionate impact on their businesses and citizens.
"The consequences of disruption are quite similar on both sides of the border," Tombe said.
This report by The Canadian Press was first published Oct. 8, 2024.
I'm not an expert for sure on this, but this feels like Trump is in far better shape than 2016. I don't think there's going to be very much bawling in the street freakouts like when Hillary lost. They really wanted her for her policies and brute force.Trying to be as fair as possible, where do you think the momentum is?
This will hurt Canada way more than it hurts the US.Some people in Canada are getting concerned about the trading economics of a new U.S. President due to possible implementation of protectionist policies.
When you look like Fani Willis (like shit), and you have the brains of Fani (none); and, as if that wasn't bad enough, you have the arrogance of Fani (ludicrous amounts) the best you can do is a broke dick nigger dumber than you are. She knows the average well-to-do brotha ain't dumb enough to fuck some up jumped hood whore like her.Funnier still she was lusting after a nigger that had a broken dick BY HER OWN ADMISSION.
Heh, do you remember their PUMA (Party Unity, My Ass) war of 2008 between the Obama and aggrieved Hillary factions, the DU intra-party feud that led to a short-lived splinter group/site called the Jackpine Radicals?They loved Obama. They loved Hillary.
Oh yeah. PUMA hahah. Their counterpart on the right, freerepublic, also went through a lot of infighting and purges during 08-12. Destroyed both of their sites because only the true believers that could do literal double-think could survive.Heh, do you remember the PUMA (Party Unity, My Ass) war of 2008 between the Obama and aggrieved Hillary factions, the intra-party feud that led to a short-lived splinter group/site called the Jackpine Radicals?
That was almost as entertaining as watching the Atheism Plus dumpster fire.
Thanks for the honest update. What is DU?I'm not an expert for sure on this, but this feels like Trump is in far better shape than 2016. I don't think there's going to be very much bawling in the street freakouts like when Hillary lost. They really wanted her for her policies and brute force.
As far as DU goes most of their userbase is literally dying off now. Nobody new can sign up, they get banned no matter what. They don't even seem to have any excitement anymore, they're all burned out boomers now and most of them are probably eating cat food in their attics.
I think the collective consciousness is tapping into our psyche to show us things to come.Fuck everyone for getting this innocent sperg post highlighted.
I almost forgot, I had a dream today about JD.
We were friends, and for some reason I gifted him three of those hand exercise balls. They were all different shades of blue. He already had some, in a box or something, so he added them to his collection.
And then later, there was this government woman, friend of his too, that came to the room where he was and told him something like "they are coming to get us". So JD, without a second though, pulled out a pistol and just shot this random guy, but then it turned out this guy had all kinds of wires and technological shit underneath his shirt. So he either knew this guy was one of "them" or he suspected. I then noticed the balls I had gifted him, earlier. No idea how that connects to anything. And then JD and this lady started making their way out of the building, trying to avoid as many people as possible. Then I woke up, and I never found out who "they" were, or if JD and the lady managed to escape.
Wild.
what the fuck is that suit? She looks like three kids in a trench coatTrump is going to make Coachella not as gay (difficulty: impossible)
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Dumb bitches being dumb bitches:
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Black Lesbian Press Secretary ne' Senior Advisor gets upset when Doocey calls out the foreign aid:
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edit: LOL what a fucking clown, middle class my ass
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While I respect your enthusiasm, you need to remember that just because someone changes their opinion doesn't mean they change their vote. People can and do believe that the economy isn't doing very well right now, or that illegals are fucking up their neighborhoods, but just because they are aware of those facts doesn't mean they're suddenly going to think the way to solve it is by electing Donald Trump and enacting Republican policies.I do not disagree with you that there are people who think exactly like this. What I am arguing is that some of these people are starting to change their minds because they're not so wealthy that everything costing 30% more doesn't matter. Some of these people are starting to change their minds because illegals are getting dumped into their communities and fucking them up.
Even if their portfolio is going up, they still have to buy shit on a daily basis and deal with illegals behaving like savages.
His source is a WSJ article, and given that the state history of 6+ point misses in Trump's favor, it looks accurate, given current polling.
I'm honestly not trying to be a doomer here, but I feel like this question should be asked.US Politics Grab Bag
JUST IN: Elon Musk tells Tucker Carlson the reason Kamala Harris is getting so much support from some billionaires is because Trump will release the Epstein Client list.
Elon: Some of those billionaires behind Kamala are terrified of a Trump win.
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The 2nd Amendment Shall Not Be Abrogated
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I live in an extremely blue state and I know a lot of very liberal types who are either sitting out the election entirely or straight up voting for Trump. You're right that I'm enthusiastic and, likely, optimistic about it. That is because I'm seeing Trump signs in neighborhoods I never thought I'd see them. I'm talking people with expensive houses on main thoroughfares in Democrat strongholds with giant Trump flags out front.While I respect your enthusiasm, you need to remember that just because someone changes their opinion doesn't mean they change their vote. People can and do believe that the economy isn't doing very well right now, or that illegals are fucking up their neighborhoods, but just because they are aware of those facts doesn't mean they're suddenly going to think the way to solve it is by electing Donald Trump and enacting Republican policies.
Democrats will think "Yea the economy is bad, but if we just tax corporations more and advocate that they pay their workers more, the economy will get better" or "Yea illegals are fucking up our neighborhoods and clogging services, but their human beings just like us, they deserve respect and the American dream. We just need to find somewhere to put them so that they can achieve their potential and start participating in the economy. Yea we might need to send a few criminals back, but what, are you going to deport all of those hard working people? Don't you enjoy yummy food?".
These people don't want to interact with the realities of their decisions, they just want to vote for someone who will make it all go away so that they can consoom more, and that's what the Democrats run on. "Vote for us so we can go back to normal". Normal being, "Shut the fuck up and don't ask any fucking questions; we're the government; that's all you need to know."
I hope and pray you're right. I'm in a purple part of a blood Red state, and see an obnoxious number of Harris signs.I see shit like that and, honestly, my first reaction is "that person is braver than I am." My second reaction is that Trump has much more support this election than any other.
Who the fuck cares what Canada thinks? All the good ones moved to America for jobs and opportunities anyways, that country is just a leech with no potential.Some people in Canada are getting concerned about the trading economics of a new U.S. President due to possible implementation of protectionist policies.
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Andrew is currently in a legal battle with his brother the King to be thrown out of his residence. Andrew thinks he is entitled to that large property on the Windsor estate and its upkeep to be taken care of by the "Crown Estate" [ie the tax payer]. Charles the King is trying to throw him out and move him into a much smaller "cottage".I'm honestly not trying to be a doomer here, but I feel like this question should be asked.
What does it matter that the Epstein client list is released, other than being transparent? Nothing happened to Prince Andrew, and correct me if I'm wrong but Maxwell only got 20 years. Yes she'll statistically die in prison but still.
I'm not opposing the client list be released, I'm just wondering what actual consequences would result from it.
As long as Canada doesn't put trade restrictions on the US and doesn't launder Chinese trade, they have nothing to fear.Some people in Canada are getting concerned about the trading economics of a new U.S. President due to possible implementation of protectionist policies.
More evidence they are preparing.. Typically a negative poll thread like this would get nuked no matter how invested the user is there.Having lurked at DU for more than a score now, I can guarantee you that there are more than a handful of paying posters, many of them longtime members, are silently waiting for Kamala to lose so that they can say what they really think about Kamala's crappy campaign
I had a dream about Hillary Clinton and Ann Richards. We were having tea together in Martha's Vineyard while she was munching on a cheeseburger. Didn't know what to do, didn't know how to react. I'm sitting there in awe watching her devour a cheeseburger like DSP. Ann Richards then comes out of nowhere from a massive jump, riding a motorcycle and snatches the burger out of Hillary's hands. I'm in a state of disbelief where I can see my own reflection in slow-mo as the sheen of the motorcycle zooms across the table.Late/hetero but I was catching up on the thread and saw a couple of people say they had JD Vance dreams. Yesterday my wife told me she had one over the weekend, the same night as those posts...is his Hindu wife pulling back the veil of reality to let him do door to door canvassing on the Ethereal Plane? My wife has had a couple of dreams before that were related to articles I was reading on here, but this is the first time she's told me something, I laughed, and then read it on here. Before it's been "oh that's weird, I was just reading about something like that".
is the pedo prince broke or is this a ego thing? all of the royals can easily be independently wealthy in their own right with out incomes from the estate. When Edward VIII was thrown out on his ass he secretly was one of the richer men in Europe. The government didn't know until they forced him to itemize his personal belongs vs the crowns.Andrew is currently in a legal battle with his brother the King to be thrown out of his residence. Andrew thinks he is entitled to that large property on the Windsor estate and its upkeep to be taken care of by the "Crown Estate" [ie the tax payer]. Charles the King is trying to throw him out and move him into a much smaller "cottage".
The Epstein list, soon to be added to with the Diddy List will expose the Politicians and the Holywood set who were happy to rape 13 and 14 year old girls for political donations.
Yes it is a problem, and yes it has to be exposed.
[edit] The King (Charles) has made it clear Andrew moves from Royal Lodge to a smaller property and start paying his own fucking way. Andrew, being the narcissistic asshole he is, thinks otherwise.
If tariffs are put into place, a tit for tat trade war is always on the table. The Canadians mainly export to the United States though so there is a good chance they would reluctantly go with whatever American policy is put into place even if it negatively effected them.As long as Canada doesn't put trade restrictions on the US and doesn't launder Chinese trade, they have nothing to fear.