It wasn’t easy, but Trump united Canada and Mexico against the US.
Mark Carney Wins Liberal Leadership by a Landslide
Prim Minister Justin Trudeau stepped down and a few weeks ago Liberals were getting crushed. But Trump rallied all Canadians against the US and united liberals behind Mark Carney.
The National Post reports Mark Carney Wins Liberal Leadership by a Landslide with 86% of Votes
Mark Carney won the Liberal leadership by a landslide, garnering 86 per cent of the ballots on the first round of votes, and is set to take the stage as prime minister at a time when the country finds itself embroiled in a trade war with its closest ally and neighbour.
Carney said he was ready to take on the fight against U.S. President Donald Trump, who is threatening to impose several rounds of tariffs, including on steel and aluminum later this week, in an apparent attempt to weaken Canada’s economy and sovereignty.
Carney called this the “most important crisis in our generation” but that Canadians “didn’t ask for this fight” but “are always ready when someone else drops the gloves.”
“The Americans should make no mistake: in trade, as in hockey, Canada will win,” he added, referencing Canada’s win at the 4 Nations Face-Off last month.
Carney then pivoted his attention to Conservative Leader Pierre Poilievre which he could be facing in a general election in a few weeks, should he decide to call one.
“He is the type of lifelong politician — and I’ve seen this type around the world — who worships at the alter of the free market despite never having made a payroll himself,” said Carney.
“Unlike Pierre Poilievre, I’ve actually worked in the private sector. I know how the world works, and I know how it can be made to work better for all of us,” he added.
The new Liberal leader also pledged to reverse some of Trudeau’s key policies.
“I am a pragmatist above all, so when I see that something’s not working, I will change it. My government will immediately eliminate the consumer carbon tax on families, on farmers, and small and medium-sized businesses,” he said.
Canada First
Also consider Poilievre Warns Trump Not to Turn Canada into a ‘Resentful Neighbour’
Conservative Leader Pierre Poilievre warned U.S. President Donald Trump not to turn a “loyal friend into a resentful neighbour” with his incessant threats of tariffs on key sectors to the Canadian economy and of making Canada into the 51st state.
Poilievre was speaking to hundreds of supporters at a “Canada First” rally on Saturday afternoon, to coincide with Flag Day, in the same downtown Ottawa convention centre where Poilievre’s leadership of the party began more than two years ago.
“Sometimes it does take a threat to remind us of what we have, what we could lose and what we could become,” he told the crowd. “The unjustified threats of tariffs and 51st statehood from Donald Trump have united our people to defend the country we love.”
Speaking to Americans, Poilievre gave them two options. The first one would be to carry out an “unprovoked attack” on the Canadian economy with tariffs, making their consumers pay more, their workers make less money, and make gas prices skyrocket.
“You will turn a loyal friend into a resentful neighbour, forced to match tariff with tariff and to seek friends everywhere else, both our economies will weaken, leaving less money for defence and security, and our enemies will grow stronger,” he said.
Or, the second option would see Canada and the U.S. trade even more, he said, making consumers pay less for goods and workers have more money in their pockets.
“I would ask you this question, which other country would you rather have as your neighbour? If Canada is not your friend, who is?” he asked Americans.
“Let me be clear: we will never be the 51st state. We will bear any burden and pay any price to protect the sovereignty and independence of our country.”
One More on Canada
Please consider Liberals Revived by Trump
Mark Carney won the leadership of Canada’s Liberal Party on Sunday, putting him in line to replace Prime Minister Justin Trudeau and call an election that suddenly seems winnable for the country’s center left.
The political tide changed when Trump took office in January and almost immediately targeted Canada with 25% tariffs that threaten the economic model that lifted growth in Canada for decades—duty-free access to the U.S. market.
Trump’s suggestions about annexing Canada and turning it into the 51st state have alarmed Canadian officials, who say they take Trump at his word that he is prepared to crush Canada’s economy and force it to give up its sovereignty.
“The Americans want our resources, our water, our land, our country,” Carney said on Sunday, speaking to Liberal Party members in Ottawa after this win. “So Americans should make no mistake. In trade, as in hockey, Canada will win.”
The Liberal Party had been trailing Canada’s right-leaning Conservative Party by roughly 20 points for a year and a half, a reflection of deep disdain for Trudeau and his government’s inability to address Canadians’ concerns about rising costs.
Trump Boosts the Mexican Left
The Wall Street Journal reports Trump Boosts the Mexican Left
Consider the developments in Mexico since Mr. Trump began threatening a North American trade war. Like Canada’s socialist Liberal Party, given up for dead in December and now surging in the polls as a symbol of anti-Trumpism, hard-left Mexican President Claudia Sheinbaum of the Morena party is riding a wave of nationalism. With an approval rating reaching 85%, she too has Mr. Trump to thank.
During Mr. Trump’s visit to the Journal shortly before the November presidential election, I asked if he would “commit to protecting” the 2020 U.S.-Mexico-Canada trade agreement, which he negotiated to replace the North American Free Trade Agreement.
“Yeah, 100%,” he said. “First of all, it’s a good question. The answer is 100% yes, unless Mexico is going to allow these massive factories owned by China to make cars and then go around the horn and sell them through China or some other country where they can avoid the USMCA.”
I read Mr. Trump’s answer to my question as a warning to China not to try to produce electric cars in Mexico and export them to the U.S. under MFN duties.
“But USMCA is safe?” I asked again.
“It’s totally safe,” he said. “But we don’t want Mexico to do things that are going to be adverse to our country. I believe they won’t, because they want to keep it safe too.”
China isn’t building car factories in Mexico. But never mind. Mr. Trump has come up with a different reason to abrogate USMCA: Unless Mexico stems Americans’ use of fentanyl, he says, the U.S. will whack its largest trading partner with high tariffs.
After more than a half-century of the failed war on drugs, this isn’t a serious proposition. But it’s convenient for the White House, which believes shouting “crisis” gives the president the power to impose the tariffs under the International Emergency Economic Powers Act of 1977.
The Trump endgame is about forcing investors to put their factories in the U.S., not ridding the world of fentanyl. His other favorite argument, which he used in his address to a joint session of Congress last week, is that the tariffs will provide “trillions and trillions of dollars” to the U.S. Treasury. (Note to Treasury: He can’t do both.) The U.S. capital-account surplus also bugs Mr. Trump, who says that the corresponding current-account deficit shows the U.S. is being “ripped off.”
Mexico needs a vibrant center-right to fight back against Morena’s politicization of the judiciary, the biggest threat to the rule of law and competitive democracy. But those voices are drowned out now as Mexicans face the possibility of a deep recession caused by a trade war. That gives them lots of reason to loathe Mr. Trump and rally around Ms. Sheinbaum’s one-party state.
Note to Treasury: He Can’t Do both
This is something I have repeatedly pointed out. Trump has conflicting and mathematically impossible goals.
Trumps Claims
- Tariffs will increase revenue enough to balance the budget
- Tariffs will bring manufacturing back to the US
- Tariffs will reduce inflation
- Tariffs will increase exports
Conflicting Economic Madness
Points 1 and 2 conflict. Tariffs cannot simultaneously bring back manufacturing and raise enough revenue to balance the budget.
Points 2 and 3 conflict. Since the US is the world’s highest cost producer of goods thanks to unions, tariffs will not reduce inflation.
Points 2 and 4 conflict. Since the US is the world’s highest cost producer of goods and other countries will retaliate, tariffs will not increase exports.
It’s not clear Trump can achieve anything with tariffs, unless you count a global recession as a victory.
A Global Trade War Has Started – Global Recession Will Follow
On March 4, I commented A Global Trade War Has Started – Global Recession Will Follow
The most significant global trade war since Smoot-Hawley and the Great Depression is underway.
We have not yet felt the hit on small manufacturers do to extremely unwise tariffs.
For discussion of the small business hit, please see How One Small Business Owner Is Coping With Trump’s Tariffs
Fifty-four percent of small businesses polled said that tariffs would negatively affect their companies, while just 11 percent said they would benefit.
Final Q & A
Q: What did Trump expect to gain from this?
A: The only thing I can come up with is MAGA loves trolling and cheers it no matter how counterproductive it is.
It was a tough job uniting all of Canada and Mexico against the US. But Trump pulled it off.
Congratulations?
For the complete stupidity of it all, please see Cheese Was a “Key Achievement” of Trump’s USMCA Trade Agreement
I don’t care if all Canadians and Mexicans hate the US. America first. Trump has to start somewhere. Get mfg back to the us for our national security then get rid of ALL welfare (no free housing, Medicaid/healthcare, food stamps) People will come back to work if they don’t want to starve and stop having children they can’t afford. Our taxes can be reduced by not paying for all the free welfare benefits. All of this will benefit Americans.
Points 1 and 2 conflict. Tariffs cannot simultaneously bring back manufacturing and raise enough revenue to balance the budget.
-Why do these conflict? Isn’t cost cutting the other side of balancing the budget? Income is only one factor in the budget.
There are other factors to tariffs that you have not considered. While tariffs have negative consequences, countries may choose to build factories in our country to avoid having to pay tariffs. Even if we are the highest cost producer, we are also the country with the largest consumption of goods. If you are going to make claims, at least provide some rationale
Points 2 and 3 conflict. Since the US is the world’s highest cost producer of goods thanks to unions, tariffs will not reduce inflation.
Inflation is not exclusively rising prices. Inflation is an increase in the money supply that typically results in rising prices. Prices rise for many reasons but not all of them are inflation. Your statement is true…tariffs will not reduce inflation but why state that at all? Tariffs don’t cause inflation because they don’t increase the money supply.
Points 2 and 4 conflict. Since the US is the world’s highest cost producer of goods and other countries will retaliate, tariffs will not increase exports.
Just a point of order, the liberals use to be center-left 40 years ago, now they’re far-left as far as the eye can see. I don’t know where Carney stands on identity politics, but he is a WEF fan boy.
As for joining the US, after 10 years of being told we’re a toxic, racist, misogynistic, genocidal, planet killing, colonialists that don’t live in a legitimate country that has high crime, high taxes, high cost of living, and low opportunities for white heterosexuals, becoming part of the US doesn’t seem like all that bad of an idea any more.
Yet, he’s dividing America. Trump is such a great president.
Not about tariffs. Pulling out one of the legs from 5 Eyes from the Great Britain Empire. Easiest way to not have (win) a World War 3 without firing a shot.
Apparently, doesn’t own many stocks. However, he is also hurting his crypto investments.
Hahaha. He already sold.
Won’t be too long until everyone will be against “US.”
The Democrats never understood that simple fact. You still NEED voters to Win!
Let’s hope the Republicans aren’t so arrogant, cocky, and simple minded, or we will have 2 useless Parties…
‘We will’: buddy you have already gone way past that point, its past tense now,
The S&P is 5,549. At some point, Trump needs to undergo a brain scan. This behavior must be caused by something seriously awry.
This isn’t about stock market or money. Trump intends to forever redraw the global map of America.
Trump was extremely vain about the stock market’s performance in his first term. I’m a little surprised that no longer seems the case. Nonetheless, it’s a great buying opportunity for me. Just had a jumbo CD mature that I can pour into VOO and VTI.
I’d slow down on investing in anything unless you are averaging down. You may be catching a falling knife. Again, this is not Trump 1.0. He is controlled by a totally different set of people than any of the MAGA folks or most American people know. We are talking about the billionaire class. Trump sees himself as part of that now. They are not concerned about the common person. I personally don’t think there is going to be an election in 2026.
Well yeah, I’m not literally going to invest the entire proceeds in one shot today. That said, I sold a real estate property back in 2022 and always regretted that I dollar cost averaged those funds into stocks too slowly at that time.
Good luck!
An absolute mess to clean up, and then repair, before He can get going completely, comes to mind…
Have you heard the term ‘valuations’ for stocks? Check out Hussman’s Market Comment articles. Stocks are very overvalued based on historical stats. When theyre this expensive, low or even negative returns are likely over the next decade, so whats happening now is normal even with the unprofessional tariff execution.
https://www.hussmanfunds.com/category/comment/
Canadians are not united with each other. Some of us want to join the USA and some do not. It has actually divided people in Canada.
Pray tell, where do you live? (I’ve said here before I live in rural NS).
Alberta. You would know us as your sugar daddy since Nova Scotia has been subsidized by Alberta for years. I don’t blame you for wanting the arrangement to continue but becoming a US state gives us advantages we can’t get as long as we have so many have not provinces.
Is there one Canadian who wants to join the US? I am willing to learn new things.There are always surprising things in this world.
There are many of us who want to see a change in the trajectory of our country and joining the US is possibly what we need.
The plan is to make Canada the 51st state. And Greenland will also comply. One way or the other. The goal of Elon Musk and Peter Thiel is to create a North American Technate that stretches from Greenland to Columbia. Trump has delusions of grandeur. The goal is, make no mistake, to redraw the map. Europe be split up between Russia and the US.
Trump is playing chess while everyone else is worried about checkers. If you think this all sounds crazy, it is your right to do so. But don’t say you weren’t warned or told. If Trump does not comply with Thiel, Musk and Putin, there is a backup plan in JD Vance.
‘Technate’ is why Trump wants Canada, Greenland and Panama CanalCanada’s vast natural wealth, Greenland’s potential as a future resource hub, and the Panama Canal’s role as a vital artery of trade are not peripheral concerns – they are central to the construction of a modern Technate
https://ummid.com/news/2025/february/16-02-2025/technate-is-why-trump-wants-canada-greenland-and-panama-canal.html
Trump intends to build a hotel/tower and beachfront resort in Greenland.
You mark my words.
Yes of course. He is thinking about his legacy larger than hotels though. This is about redrawing world maps.
You have a lot of faith in an old man who has trouble remembering what he said yesterday.
Apparently sometimes it’s twenty minutes ago.
Greenland is a bit too far north for a beach front resort, think glacial skiing. but that land isn’t for tourists…
Skiing “glacially” isn’t much fun.
Except for the crevasses covered by thin snow bridges.
They were already against us. Their tariffs and immigration policies prove that. Trump wants to level the playing field. Stop crying uncle when you are winning but have a chicken shite fear of losing.
wow, Trump is getting TDS syndrome now.
He got pissed off on Canada decision to put export tariff on energy going out to USA.
So they are doing what he wants, increasing cost of Canadian product as per Trump wish, so American energy is cheaper alternative.
Maybe he forgot his glasses and misread it, or maybe forgot his pills last night.
So much confusion here 🙂
Clown show continues full speed.
““Let me be clear: we will never be the 51st state. We will bear any burden and pay any price to protect the sovereignty and independence of our country.””
What an odd statement from a subject of the British monarch.
https://www.canada.ca/en/canadian-heritage/services/crown-canada/about.html
they all live and die at the mercy of the crown. Its worth fighting a war over, or at least the USA thought so. 1776 the divorce from the Crown.
One question, Mish. If unemployment rate is at 5%, are enough people in the US to make all cars, TVs, pants, toys, etc. that come from China, Europe, Mexico and Canada?
I wouldn’t hire 95% of my old classmates for my bussiness, there was some really silly guys there.
It depends on the Employment Population Ratio, Labor Force, and number of employed
In general, 5 percent is not that high.
it also depends on automation and ai, both of which have been tremendously advanced in the decades since the de-industrialization of the USA.
1M GBP/USB under Carney: it plunged from 2014 high @1.72 to 1.16 in 2016. 2020 low was: 1.14. Canada has problems with Modi and Trump. They are not entitle to our crumbs.
Global recession isn’t that bad if you live in the US. There are lots of backstops to assist people to include unions (not a fan), unemployment benefits and food welfare to name a few. We also have a high standard of living so dropping down a bar or, even three, most could suck it up for a while.
Other countries not so much, Especially Mexico and India. Dropping down a bar or two is rock bottom or worse. Canada is better but they are already treading water. Bottom line is nobody is winning a tariff war with the US long term. It will suck though. Just suck worse for Mexico and Canada or anyone else thinking they are going to show us they wear big boy pants.
Trump says he wants Canada to be 51st State. He must have forgotten that his “good mate” King Charles 111 of UK also happens to be King of Canada. Not sure Charles would be pleased.
Fuck Queen Charles
I guess that passes for razor sharp wit in the US.
Friends carry their own weight instead of asking others to do it for them. Canada’s at the bottom of the barrel for funding NATO.
Europe had an emergency meeting. No new weapons or ammunition are coming to Ukraine. Europe will concede territory all the way to Paris because Europeans lost the will to resist.
USA cannot count losers as allies. USA must cut loose from NATO and defend America against European censorship, socialism, fascism, and high tariff/regulatory walls.
Even if the Europeons had the will to resist anyone, they don’t have the ability.
Under Carney in the BOE (2013-2019) the British pound collapsed when he predicted doomsday after Brexit. Carney/Sheinbaum honeymoon will not last. The US gave these loving birds crumbs for too long. Small and mid industrial satellites mfg around industrial hubs will grow like mushrooms.
Moronism is the new political philosophy in the US.
Let’s see how that works out.
Canada sends over 75% of their exports to the US. Mexico sends over 75% of their exports to the US. Both are Uber dependent on the United States. United lefties from Mexico and Canada can do nothing to change this fact.
All of the libs and lefties in the US are united against Trump too. Where has that gotten them?
True but when you lose a trading partner, new trade partnerships form. China has been investing heavily in Mexico as a gateway to Latin America, like ALL of South and Central America (population 700 million). Canada is starting to beef up relations with the EU (population 500 million).
America has 80 million geezers on social programs so over the next decade that nexus will change.
China entered demographic collapse and won’t exist as country twenty years from now. Chinese cities are a bank debt default bomb. Life savings real estate investments in China are worthless. Revolution is pending.
Europe has the same geezer population issue that the US does. China is right behind the US and Europe by maybe a decade. ALL the countries of the world other than African ones have a demographic problem.
The problem for Mexico and Canada is there is no place to export to. China is a net exporter so there is no chance of *gaining* in exports if you open up trade to China. Europe has its own tariffs and good luck negotiating any new agreement with 27 countries (took a decade to do a single agreement with Canada). In the short term (next decade) both Mexico and Canada have no other options than the US so it will be at least that long to reduce the number from 75% by anything meaningful (ie down to 50 or below).
China doesn’t make bad trade deals. That’s how we got into this mess in the first place. That’s why Mexico and Canada trade with us suckers instead of CHINA.
it’s gotten them and all of us Karen Bass, the face of failure.
President Trump raised the tariff on Canadian steel and aluminum from 25% to 50%. I doubt Canadian aluminum and steel can pass through the European tariff wall. We are witnessing a contest between a roach and a boot. Canada should not have raised the price of electricity and threatened to end the supply to a mere 1.5 million of 340 million people.
Doug Ford of Ontario says he will not back down. So this trade war will continue to escalate.
After Canada’s next response, Trump will likely increase those steel and aluminum tariffs to 100%. Sweet!
The US imports most of its aluminum from Quebec. A 50% or 100% tariff will help Alcoa, because they will be able to raise prices. But it will hurt hundreds of US manufacturers that rely on that Canadian aluminum.
What a show!
This game of chicken will cost us all. But it will cost Canada significantly more. Somebody needs to pick up the phone or get on a plane. Cooler heads prevail and right now, everyone is a hot head.
I wonder how the rest of the Canadian provinces are going to feel when they bear the brunt of Fords folly.
The idea that Ontario alone can back down Trump is ludicrous and if Carney had any balls he’d tell Ford to undo the policy and butt out. Response should happen at the national level.
Lol! And yet he did make Trump back down!
After Ford said he wouldn’t back down unless steel and aluminum tariffs were dropped, Lutnick called Ford and agreed to cancel the steel and aluminum tariffs if Ford would drop the electricity tax.
Lol! LMAO!
What a show!
Canada should end the sale of electricity and oil to the US.
Sorry Canada, it’s not all Americans, just the low IQ MAGA, their “god” and the 90M citizens that did not vote in our 2024 elections. These people are not real Americans just AINO. (Americans in name only)
Polls say 80% of Americans support MAGA policies.
How about you show us that poll?
don’t be asking strangers on the internet to show you their pole, that could lead to trouble.
I don’t think so.
Canadian electricity sales to the US are insignificant.
Check your facts before you shoot. Under CETA, there is no EU tariff on Canadian steel or aluminum. Starting 2026, there will be an import carbon content tax.
He doesn’t have any facts. He makes everything up. Like Trump.
“Canada First”
Globalism gives way to nationalism.
WEF is globalism. WHO’s One Health is globalism. UN global governance is globalism. Gutierez wants special global emergency powers, as does Tedros. Never let a crisis go to waste, in order to make those into permanent powers.
Canada gained independence in 1982. “Invade Canada” isn’t something new. The Irish in the US invaded Canada several times. The last raid was 1871,
“It’s not clear Trump can achieve anything with tariffs, unless you count a global recession as a victory.”
The only reason a recession was not declared in October 2022 was due to out of control government spending. Tariffs are the scapegoat to a recession that was already here.
Carney talks out of both sides of his mouth which is a familiar trait from most politicians.
He had been a critic of any reduction in Carbon Taxes just months before his running to be Prime Minister?
Now this Chameleon is saying Carbon Taxes need to be removed? Will these taxes just be repacked under a different name if he manages to fool enough voters?
Carney said carbon taxes would be removed from consumers where they can see its impact. Instead it will be placed further upstream where its impact is not visible to the average person.
And it will one hundred percent, absolutely, guaranteed, without fail as laid out by Carney over and over again, be imposed on the border with the U.S based on a formula created by Carney.
The veneer must have been very thin indeed, if a few words and fewer actions by one sitting president can destroy relations forever.
I would posit the wood was rotten if the beams failed so fast.
The house didn’t collapse from the storm, the foundation was rotten and it would have fallen on its on eventually with only a seagull fart in its general direction.
Interesting comment. Seems that would apply to Elon’s Tesla, words are causing his company to crash.
https://www.cnbc.com/2025/03/11/trump-says-hes-buying-a-tesla-to-support-elon-musk-and-counter-illegal-boycott-of-ev-maker.html
There you go MAGA, go out and buy a nazi-mobile like Trump.
Without hyperbole where would you be
Where’s the hyperbole? I posted a link about Trump buying a Tesla from a guy that does the nazi salute. Where are you confused? Sounds like you may own a tesla or two. Stay safe out there, lots of crazy angry people that might want to hurt you.
LMAO
his word correction software is broke, it substitutes “Nazi” randomly in any sentence, it kinda loses any meaning after about the 10,000th time you see it in a week.
You really should not get caught up in the cult of personality vortex like this. Not good for your heart, and it’s really bad for your thinking. As you keep demonstrating.
Yesterday Siemens announced a $100 billion investment in manufacturing in California and Texas. Last week TSMC announced a $100 billion investment in semiconductor manufacturing in Arizona. Semiconductor packaging is coming to Arizona. Trump is not yet two months into his presidency and tariff threats are working, Mish. I predict BMW will soon build more manufacturing in USA. BASF announced relocation of chemical manufacturing to Louisiana before President Trump was elected. US steel and aluminum producers will be hiring. Expect CF industries to have a growing nitrogen fertilizer business. US potash and phosphate mines will expand as well.
i fear they will all have to build in the USA, it will be cheaper to build here and ship it back to europe, than to afford “Green Energy Policies”…
Your fear wrong.
Mish- you do yourself no help by not exposing the tariffs, regulatory and transfer fees that are applied to US products to be sold in another country, such as Canada. You are deliberately being uninformed on the costs applied to US products.
Then why don’t you help him out? Please show us the list of tariffs that Canada imposes on the US and the list of tariffs that the US imposes on Canada. Then we can compare. Thanks in advance.
250% on butter.
Lol! Here you go.
https://www.brookings.edu/articles/a-trumped-up-charge-against-canadian-dairy-tariffs/
and a quota.
Yep. Which is a higher quota than the US allows for Canadian dairy. We are allowed to sell the Canadians a lot more dairy than they are allowed to sell to us.
https://www.agrifoodecon.ca/uploads/userfiles/files/us%20cheese%20imports%20final%20draft%2021%20june%202018.pdf
Clearly you don’t have a clue about this topic. You just make sh*t up to suit your false narrative.
42 million people in Canada import $350 Billion from U.S. Thats $8333 spent on American goods per person.
340 million people in America import $412 Billion from Canada. Thats $1211 spent on Canadian goods per person.
Imbalance? Why isn’t Canada making a bigger stink?
If the trend continues Canadians won’t have jobs to buy anything from USA. They’ll eat moose meat and wild berries, drive dog sleds, and trap fur.
How DOGE’s Cuts to the IRS Threaten to Cost More Than DOGE Will Ever Save. https://www.vox.com/culture/402406/great-gatsby-f-scott-fitzgerald-centennial-100
It must be rough to always see the glass half empty. Life’s too short
In case you missed the obvious, I call them on a case by case basis regardless of who is in the White House.
And this glass isn’t half full it has negative water.
“negative water”. Good one.
I met Carney as a party in Toronto. He was a pompous ass. He is part of the WEF CLAN. That guy was so stupid. My Mom’s hubby told me that Carney was SO CORRUPT that they sent him off to the UK.
Skip to the 2min mark: https://www.youtube.com/watch?v=aSCvpkZaiJQ
Carney is as corrupt as they come. He may not win. We shall see.
I agree. It is funny that they would forget the horrors of the last 10 years of leadership just bc they don’t like Trump. Pierre a much better option.
And yet that’s what the people chose. How do you explain that election midnight?
Wrongo. They didn’t have an election. This was simply to fill Trudeau who resigned.
No. That’s what the liberal party chose. Why the sneering tone in all your comments? Especially since you are wrong a good part of the time.
They can’t help it. The pettiness is baked into who they are. These are the same people who cried when Obama won, but can’t admit he was an utter failure. Delusion is a helluva drug.
There is so much money to be made in following Trump, here we are again.
There must be some other story.
Like how we got to $37 Trillion in debt.
Trump did not invent tariffs, and they are higher in other countries. About 20 years ago, when the Euro was high, all of a sudden we had a ton of tourists from Europe in the USA, buying Japanese electronics (!) and imported clothes made in Asia (!!) because they were so cheaper in the US than they were in Europe. I still remember all those new Greek visitors from Greece hanging out in Chicago’s Greektown showing off their new phones etc. It was a little comic and bizarre.
Where else would Greek visitors come from?????? DOH
OK, let’s get real, shall we? My Mom was a Canadian, married to a Canadian Politician. He was a prick. HE HATED AMERICA and HATED AMERICANS and this dated back to 1985. We have met and befriended MANY Canadians in my life and without an exception our “Candian Friends” brag ALL OF THE TIME how they are Superior to Americans.
ALL that I heard from my Mother’s Husband (“the PRICK” – was his nickname) was how GREAT PICKERING, Ont was and how SUPERIOR they were when it came to the Nuclear Power Plant.
ALL of our Canadian Friends have “looked down upon us” as Americans and we have felt that and overlooked it for the sake of our “Friendships.” In the end, it has gotten VERY OLD putting up with the remarks about how Stupid Americans are and so on.
Canadians look DOWN upon us. I have known over 250 of them. At parties in Toronto, I put up with Remarks from Canadians that got boorish. We live in Portugal part time and the Canadians wear MAPLE LEAF HATS and FLY THEIR FLAGS on their Balconies and it has gotten VERY old being around them, so we bow out of invites now. We have plenty of Portuguese Friends, and German friends and Swedes, Norwegians ALL who show a profound amount of respect.
FUCK CANADA!
some say it is the inhalation of massive amounts of moose farts, since birth, that affects the canadian thought processes. Whilst others say, the auspicious amounts of maple syrup ladled on everything from french fries to filet mignon, produce a sort of mental intoxication that inhibits higher thought processes.
its a difficult culture to sort out, like trying to figure out why lapplanders stay in the Artic Circle when tropical Greenland beckons.
My uncle always felt their hats were probably on too tight.
The ones into drinking and curling are probably decent, but the other 60% aren’t.
they have very sophisticated propaganda systems in Canada. I doubt many there even understand their own lives, let alone politics and international trade.
They were a hardy stock primarily Scotish folks looking for a better life. Now they’ve been constrained by the Crown to be the renters while the Crown figures out what to build there.
Im sure he speaks highly of you too,
Does anybody really think we can fix the debt problem in the USA without a recession ?
Other subject can someone explain:
x country has tariffs on US imports
USA has no tariffs on imports from x country
no trade war
Then
USA adds tariffs on x country matching their tariffs on USA
USA is starting a trade war? Wasn’t the war started before USA added Tariffs by country x?
I think we are and have been in one for quite some time. It has been papered over with printed $ and stolen from the Taxpayers $. Now as we claw it back, and depending how bad we actually find things to be, will tell us. We are not quite there yet, but getting closer and closer. We may be thrusted into a whale of one, or a small blip with many, many corrections along the way, over a period of time. We shall see…
Forget anything to do with Tariffs right now. They change and will continue too, until Canada and/or Mexico figure their shit out. Waste of time now…
“Does anybody really think we can fix the debt problem in the USA without a recession ?”
Um, Ken, a recession, like it or not, will make the debt problem worse. Congress / Fed will throw helicopter money at trying pull us of the decline.
The debt problem can’t be dealt with until is so problematic that a solution is forced. All that will happen is all of the deficit reduction, if any, will be wiped out when the Ds or Rino Rs regain power. People will only believe it’s a problem when it is right in front of them. Political expediency always wins. This will all prove to be a massive waste of time to achieve the impossible. If Trump actually reduces the deficit substantially that will be a massive accomplishment, but there is zero possibility to reduce the national debt other than its significance to the total economy. It’s hard to believe that the economy would grow with all of these tariffs. Taxes always reduce growth.
The problem is in a nutshell, “we cannot change things without things changing”.
America First is good, Canada first is good. Mexico first is good. The trade will settle out shortly as the reality that America will no longer be the patsy for other countries due to the past administration’s corrupt Federal Agencies allowing it,
so everybody gets a trophy for 1st place and then we have little seizures pizza and fizzy drinks?
Diplomacy is difficult, economic diplomacy is a hammer in a velvet sack. something will get broken, just with less noise than usual.
Trump has broken his word, and broken his “best ever” trade deal that both Mexico and Canada were honoring. A deal that was going to be renegotiated next year anyway. The next negotiation will not go well as our former friends and allies will not trust us to keep our word in the future. And I don’t blame them for not trusting us anymore.
Meanwhile, as Mish has pointed out, Trump has done the politicians in those two countries a favor. They now have an enemy to target in order to spur national pride and unity.
With Trudeau stepping down and Carney taking over, Canada will have an election in the next few months. The winner will be whoever Canadians think will “stick it to America” best. Politicians like Doug Ford of Ontario just won a massive majority by promising to fight back against Trump, who he said “knifed us in the back”. He has already taken all American alcohol off store shelves in Ontario, cancelled a Musk Starlink contract, and put a 25% tax on electricity exports to the US.
Most Americans barely know that Trump has started a trade war with our former friends and allies. They have no idea how pissed off Canadians are. Why are they booing our national anthem?
However, in Canada, this is all everyone is talking about. You can’t watch a Canadian newscast or read a Canadian publication without seeing people talking about the trade war. They even have a new slogan that unites them. “Elbows up!” A hockey reference of course.
Trump’s goals are admirable. He wants to bring back manufacturing and jobs to the US. But as Mish has pointed out, his strategy makes no sense as it is a “mish”mash of conflicts.
For example, he is putting 25% tariffs on imported steel and aluminum. Over time this may result is more domestic production of these materials. But that will take decades to happen, and with aluminum, which we import 80% of what we use, it might not even be possible.
Meanwhile, all our manufacturers that use steel and aluminum will become even less competitive as their input costs go up. A survey of US auto parts manufacturers revealed that 1/3 of them will consider moving production “out of the country” in order to remain competitive. Because of tariffs on their raw materials.
Trump thinks tariffs will bring back manufacturing and jobs, raise revenues, pay off the deficit and debt, allow us to eliminate income taxes and bring on the Golden Age.
I seriously doubt this will happen. However, I hope he raises tariffs on everyone and everything so we can find out for sure what the result of this brilliant strategy will be.
Canadians have never loved Americans – – EVER!
Lol! Sure. Whatever you say!
Regardless, they don’t like us now.
Meanwhile Trump’s response to 25% tariffs on electricity is to raise tariffs on Canadian aluminum and steel to 50%. Sweet!
This just keeps getting better. What a show!
Next escalation move: Canada shuts electricity off to 3 US states.
Followed by the US shutting off oil / natural gas to the Eastern provinces (all Alberta oil going east runs thru US pipelines) and ‘conducting impromptu inspections at sea of oil tankers going to Canada under the guise of looking for illegals + drugs that delay them by a week’.
Chicken is not a game Canada can win.
No. Followed by shutting off all Canadian electricity imports into the U.S. by the U.S. A slight increase in electricity prices in the U.S. A devastating blow to the economies of Ontario, Quebec and British Columbia.
Even in the three states most affected, Canadian electricity is only seven percent of consumption, max. The rest of the country is almost entirely unaffected.
Trump raised the steel Canada tariffs to 50% today.
https://www.cnbc.com/2025/03/11/trump-raises-canadian-steel-aluminum-tariffs-to-50percent-in-retaliation-for-ontario-energy-duties.html
See if you can unhook yourself from cult of personality thinking. It’ll help.
I have no respect for Canada or Mexico. I am not interested in satisfying their polls. Like Starmer, Macron and Zelensky…they are not Americans and should not be expected to support the USA.
They no longer have any respect for us either because we won’t keep our word. This is called “winning”?
What a show!
Papa, you are naive if you think that ANY negotiation is entered into with “one’s word” as the backdrop to either Party WINNING the better side of the Hand. I negotiated for a Living. The “ART OF DECEPTION” is how it works. One NEVER plays their hand out loudly, unless they know that they have an EDGE.
COME ON NOW. AND, yes, I was on the losing end of many deals KNOWING that I, as the seller, WANTED THAT BUSINESS and all I could do was preserve NET PROFITS by taking something back from a buyer. MANY TIMES it was “a minimum buying quantity” where I got the better of my SUPPLIERS who supplied components for my high tech products. I cannot be any more clear on what I sold because we were a big supplier to Governments and the Private sector.
SO, do not be naive about Negotiations. BUYER AND SELLER are all on the edge. I wanted VOLUME and the buyer wanted a deal for volume. I would simply walk away and that quite often closed deals.
“SORRY” – – “can’t do it” and I would stand up from the Boardroom table and prepare to walk out. If they did not blink, I needed them ore than I knew.
So you never keep your word? Nice.
in the world of the simple, complication is a sin.
The truth is a slippery thing, we have entire professions built on defining it (lawyers) and bending it (politicians) exploiting it (the press) and explaining it and forgiving it (the clergy).
don’t polish your reality too much, you may be dismayed at what lies beneath that shiny veneer.
Papa, you’ve never played poker, eh? Or bought a car from a dealer? Or bought a house or condo?
I have never reneged on my word, let alone a signed contract. How about you?
I am imperfect. So nice to meet a perfect, error free, judgement free individual such as yourself. I make mistakes, but it is a pleasure to meet someone who does not. How ironically Trumpian of you. This explains much.
So you renege on your signed contracts?
contracts have clauses, that explain what occurs should the contract be broken or unenforcable. These clauses exist for a reason. Contracts do get broken or fail to execute to completion.
Yep. And Mexico and Canada were honoring the signed contract. It was Trump who broke it. Tell me what should occur now that he has broken it.
What’d you do, move out in the middle of the night?
You are correct. IT HAS TO BE “EVERY MAN FOR HIMSELF” now. That is the reality ANYWAY!
MAGAs are AINO, Americans In Name Only.
The entire trump administration is logically inconsistency. Trump and his cult brag that he’s eliminated illegal crossings yet tariffs must be imposed for allowing fentanyl.
If the border is secure then there can’t be a fentanyl problem can there?
The administration says there will be no recession yet the forward looking stock market just lost $4 trillion.
Tariffs are supposed to pay for everything yet repubs are raising the debt ceiling by $4 trillion. Why?
Government is the problem yet the government is now officially Trump and the GOP. You ARE the government.
It’s an endless bi-polar loop with this group, literally mentally insane.
Trump is dangling a carrot. Canada needs us more than we need them.
That statement makes no sense. You don’t bully someone that you don’t need nor is no threat. The point of bullying is to attempt to establish a superior position before others establish theirs.
Trump is not trying to bully anybody. He does get a bad rap for such occurrences, but usually false, as is this one. Most Countries are not used to dealing with Honesty. Look at the BS they have had to endure over the last 4 years! Talking with a turnip, or might as well be one, and “No Idea Whatsoever” if it heard you, understood you, will comment back to you, or simply stare and drool at you. Those are just some of the possible expectations…
So along comes Trump, with Honest Factual Discussions to be had. Most Panic!! They Freeze up, with not a clue how to respond. It’s sad really… they have to ask their “Handlers” and “Donors” if it’s OK FIRST, and if they disagree, all hell breaks loose. If not, they still don’t know what to do. Now they have to call the “Old Guard” in, you know the ones that got them to this point, and Obama, Hillary, etc. have “No Clue” as well. They have been out of the Game and Loop for awhile now…
Bullying is rather a strong word to leap to at the merest wiff of something you don’t like. You don’t bully your children, you attempt to correct their behaviour by influencing their thinking through direct actions, this is not bullying.
Dropping bombs on parliment is bullying. releasing a manmade bioweapon virus and forcing experimental vaccines on the general population through fear, and economic peresecution is bullying.
Or it’s a mental disorder as is the case with trump.
In two years or less we’ll see what the voters have to say.
My guess many more of us will side with Canada than side with Russia.
i prefer voters who side with the USA, rather than external forces. Why don’t you?
If tariffs are just a tool then there must be a goal. Is the goal of reindustrialization to create jobs for people the government is going to fire from government sponsored sphere? There are 24 million people working there if I remember it right and there may be few millions depending on government money outside this sphere. Is this the way to reduce government deficits and stop coming debt disaster and demise of dollar as global reserve currency? Is Trump more of Gorbatchev and Yeltsin or rather Putin? There must be reason why Trump admires Putin. Turning around broken Russia and bringing it back to 2nd class superpower status?
What is wrong with reciprocal tariffs. The county that is most upset is the one with the higher tariffs. If both countries charge equal tariffs, wouldn’t the net result be no tariffs on paper.
Because tariffs won’t fix an imbalance caused by many things.
U.S. farmers get subsidies from the U.S. government, how does that distort things?
U.S. has the world’s reserve currency, how does that distort things?
Some countries around the world have V.A.T and others don’t, how does that distort things?
I could go on by why bother, if Trump says tariffs are the solution, his cult will eat it up. This child-like mentality that tariffs will solve the world’s problem is amusing and dimwitted.
We have the upper hand. CARNEY, the bullshitting WEF Man has not nuts. He is a tool. I have met him. He is weak.
Everyone seems to be weak except the country with an aging population, $42 trillion in debt and an inability to stop consuming drugs or being over weight. You need to think more clearly.
why do you bring Red China into every discussion?
Of all the industrialized countries with an aging demographic problem, America has the least concern. You keep bringing up aging demographic but that is one area where America shines in comparison to everyone else.
Pound to a pinch of shit he doesn’t even remember you.
That’s not hotter it works. It’s not a closed system. There are other more vibrant economies than in the US.
Quit asking the right questions, T.E. !!! 🙂
Sure then the consumers in both countries suffer inflation.
Better than one. All things equal.
“It’s not clear Trump can achieve anything with tariffs, unless you count a global recession as a victory.”
Could not have said it better
Yes, Mish could: unless you count a Usonian recession a victory. The world economy has changed a lot since the 90s.
Right. The world economy is already in recession. Well, except for Russia of course.
The Sound And Fury Signifying Nothing.
Canada has their new globalist PM. Let’s see how that works out for them.
Mexico will continue to mostly look the other way with their narco cartels.
I’m not sure why this is news? It was fully expected. No one, even Trump, expects them to roll over.
Exactly!!
Want Mexico to work with the U.S., then either dispel the Cartels, or get them on your side. Neither sounds like a very sound solution.
With the new Globalist in Canada, I expect them to “Double Down” like the Dems are doing here. Likely no movement there either.
So Trump will wait until Canada “Needs Help” as they will be crippled with energy needs amongst other issues. Trump will also wait until Mexico “Needs Help” as the Cartels will literally take over fully in Power & Control without it.
Time is on His Side, so Trump will wisely await the “Need”
Will Trump wait until US citizens need help?
Have you considered who Trump choose for his cabinet to run administrative Branch of US and what their avowed goals are?
Look up what people of Hurricane ravaged Appalachia think about Trump compared with what Biden did.
Trump has been “Helping” the Citizens of America beyond belief! Have you been paying attention? They have clawed back Billion$ upon Billion$ of the Taxpayers Money!!
they have pulled off many band-aids and revealed the wounds are infected with maggots.
its not a pretty sight, and many would rather go blind than see the rot.
all things require maintenance, even democracy, even government.
some features may not function correctly while being rebuilt. we learn to cope.
Its better to experience the pain of pruning and regrowth, than to suffer the infinite pain of rot and decay.