this post was submitted on 18 Jan 2025
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Summary

Canada is preparing to retaliate against Donald Trump’s proposed 25% tariffs on Canadian imports, which could trigger the largest trade war between the nations in decades.

Prime Minister Justin Trudeau promised counter-tariffs worth $37 billion, with potential for further measures, depending on Trump’s final order.

Canadian officials warn the tariffs could harm both economies, disrupting key sectors like automotive, energy, and agriculture.

Labor leaders expressed concerns over job losses and urged collaboration. Canada hopes to avoid tariffs by highlighting their mutual economic impact to U.S. lawmakers.

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[–] GreenKnight23 -3 points 1 day ago (2 children)

you're thinking too locally. countries have a reserve of USD on hand to use as trade and an easy way to pay debts. this is why USD is called a "global reserve currency"

Countries hold reserves for a number of reasons, including to weather economic shocks, pay for imports, service debts, and moderate the value of their own currencies.

what do you think happens to those other countries that hold USD reserves when it drops in value?

it's an economic depression! hope you're ready for your grocery bill to quadruple. do you think your power company will accept payments made in gold? silver? pleasures of the flesh?

doesn't take a rocket scientist to figure out what's going to happen once the USD halves in value. complete economic meltdown.

the question you should be asking yourself is, who benefits from this?

[–] Wooki -2 points 15 hours ago* (last edited 15 hours ago) (1 children)

Comical.

groceries

Maybe for Americans where groceries are highly highly processed let alone majority imported.

Grabs locally grown whole foods including popcorn and gets healthier

[–] GreenKnight23 -1 points 15 hours ago (1 children)

can't be edgy while you starve.

you'll think back to this moment when you're hungry.

[–] Wooki 0 points 13 hours ago (1 children)

Better start prepping then so you don't starve

You'll think back at this moment when you've got a full stomach.

[–] GreenKnight23 -1 points 13 hours ago

you're right, I will. but not for the reasons you're implying.

[–] [email protected] 2 points 23 hours ago (1 children)

...it's an economic depression! hope you're ready for your grocery bill to quadruple.

complete economic meltdown.

Aw man I seem to vaguely remember a short time when this wasn't happening ever since I've been of working age, but it already feels so distant now...

[–] GreenKnight23 0 points 23 hours ago

I think you're taking it too lightly.

you should read up on the fall of the Soviet Union and what life was like after.

  • waiting in lines for hours for the possibility of buying a pound of beef
  • not having access to consumables like toilet paper for months
  • medication becoming nonexistent
  • cheap government subsidized vodka
  • further corruption of local administration and public police

really, go read up on it. I'm sure it'll blow your mind.