“best way for Mexico and Canada to win”

What He Said 96 Comments

Peter Schiff- 25% tariffs on goods coming in from Mexico and Canada are not a disaster for Canada or Mexico. There will be declines in U.S. sales, but those countries can still consume those goods domestically or export to other nations. So companies making those goods will see profits fall for the portion of their sales that go to the next highest bidders. More…

96 Replies to ““best way for Mexico and Canada to win””

  1. Or we could address the nato funding and fentanal and immigration/border issues. But none of that keeps the NDP/ Liberal coalition in power.

    1. Concerned

      Trumpy’s tariffs are actually not about fentanyl, borders, or NATO spending. Trumpy says tariffs will make hundreds of billions for the USA.

      He’s even floated the idea that tariff revenue could replace income tax revenue.

      Yesterday (Friday) Trumpy said there’s NOTHING Canada, Mexico, or China can do to prevent the tariffs from being implemented.

      https://calgarysun.com/news/national/trudeau-says-canada-ready-for-trump-tariffs-as-ministers-make-final-push-in-d-c/wcm/29b9b65a-5ea1-4612-862f-2f3f5d56b9ae?

    2. Exactly. To me, it seems like Trudeau and company have done so much damage to the economy that they’re willing to totally tank it so they can blame you know who. Too many Canadians are already falling for it.

    3. No. It’s not about those things (see Joe’s comment), and the US has no business directing our drug and immigration/border policies in any way.

      1. “No. It’s not about those things (see Joe’s comment), and the US has no business directing our drug and immigration/border policies in any way.”

        Except when those drug and immigration/border policies directly affect the lives of Americans, at which point they have *every* right to do so (and did).

        Don’t like it? DO WHAT THEY ASK, and the tariffs magically disappear.

        Or just stubbornly dig in your heels, flip Trump the finger and watch Canada slide into recession. Your choice.

        1. “DO WHAT THEY ASK, and the tariffs magically disappear.”

          Not according to Trump.

          Trump has said there’s nothing Canada can do to stop tariffs.

          1. That window has closed. Canada could have responded to the original request to crack down on border drugs and human trafficking. Instead Trudeau did nothing.

          3. ““DO WHAT THEY ASK, and the tariffs magically disappear.”

            Not according to Trump.

            Trump has said there’s nothing Canada can do to stop tariffs.”

            [sigh]…

            How about “DO WHAT THEY ASK, and the tariffs magically (don’t) appear?” More clear, now?

            Because Canada refused to secure the border and do anything to stop the drug/people traffic, it is now too late. That ship has sailed. The time to act was when the Americans first demanded action. What…did you think they were bluffing?

        2. Nope. It’s not our job to impose American law on ourselves. If our enlightened immigration system and lack of police state ‘affects’ Americans then that is really their problem.

          “DO WHAT THEY ASK, and the tariffs magically disappear.”

          Trump has made clear that’s not the case, and even if it was, it’s appeasement and that’s bad. I am not interested in catering to the whims of an idiot in charge of a dying power.

          1. “I am not interested in catering to the whims of an “idiot” in charge of a dying power.”

            You would rather be one.

      2. Yeah, they do actually. Canada, like Mexico, were parties in allowing immigrants into their countries knowing full well they were transiting those countries to get into the U.S. That is a violation of the Safe Third Country Agreement.

      4. Wow! You are getting stupider every day. It should be the other way around but, alas, you are a liberal/socialist.

      5. “No. It’s not about those things (see Joe’s comment),”

        You are blind and immensely clueless. It costs money to fight crime and drug lords.

        “and the US has no business directing our drug and immigration/border policies in any way.”

        When they land in their lap, yes they do and we’re about to get a taste.

        You are without a doubt the only thing that believes graphic novels are real. Every thing you say is a laugh.

    4. Here is another contrary to the narrative but a good perspective as to why Trump is targetting Canada. The essay is more to do with Canada aligning with forces hostile to American interests. These hostile interests are: China, Globalism, the UN, the WEF, the EU, etc. Carney is also seen as more hostile to American interests than is the Turd.

      It’s a long read so get comfortable before you start.

      https://substack.com/@juliusruechel/p-156007264

  2. “Good Fences Make Good Neighbors”
    Because increasing border security is absolutely not an option; and reducing fentanyl and other drug trafficking in the Western Hemisphere is in no one’s best interest.

    1. There’s nothing to secure the border from. It’s just a money hole and the path to a police state.

      1. Try to pay attention. Canada is a source of both illegal migrants to the United States and a source of fentanyl being shipped to the United States. These are things the US administration is demanding that Canada stops.

        1. It’s a trivial source of both. In any event, if the US wants those issues solved, it has to legalize immigration and drugs. There’s nothing else to it.

  3. Mostly good ideas, but wrong when he says we can still consume those goods domestically or export to other nations. We are already consuming all of those products that we can. Finding other export markets takes time…IF there is a market for them at all.

    1. Now, now. Look at what an outstanding job Canada has done building the necessary infrastructure to move its energy products to alternative markets.

      1. Some products are easier to redirect to foreign countries than others. Products like potash, uranium, grains, oilseeds, metals/ore that can be shipped by rail to ocean ports. The only upgrade needed would be increased capacity. Adding oil and gas pipelines takes more time and more hurdles. If there was the political will to do so, it could happen. Unfortunately, provincial rivalries and an incompetent federal government makes that virtually impossible. After all, the Liberals unofficial motto is:

        Promise everything, Deliver nothing. Blame someone else…while making Liberals and their VIP buddies rich off taxpayer money.

        1. Regarding non-pipeline transport of Alberta bitumen crude, I’m not sure how this research evolved. Being able to transport this way would allow transportation of bitumen by rail car to ocean ships without the need for a new pipeline.

          “Balls of bitumen: Calgary breakthrough could bypass pipeline problem, researcher says. Engineer says his team’s spill-resistant pellets of heavy oil can be safely transported by rail”

          https://www.cbc.ca/news/canada/calgary/bitumen-balls-pellets-pipelines-rail-train-transport-energy-alberta-technology-1.4277320

          2. I’m not sure what happened with the research. It may be old news but old research sometimes proves valuable later on. The ability to move any solid crude oil by rail could, for instance, safely provide oil to Ontario in the event of a Line 5 closure. Solid crude allows oil transport that doesn’t rely on new Canadian pipelines to get to international markets, since new pipelines to coasts are nearly impossible to build in Canada.

        2. Our ports suck. They are almost as inefficient as American ports. Get DP World running them and building new ones so we can move the goods.

          1. Yep. In a better Canada new ports built by private companies should be allowed to have non-union port workers. Yearly strikes by various unions makes Canadian ports unreliable.

          2. I don’t have the list handy but there’s a ranking of ports all over the world by efficiency. Canada’s are near the bottom and America’s are *right* at the bottom. There are ports in Tanzania and Morocco more efficient than those north of the Rio Grande.

            This ties into the automation fight strike thing last year. Trump has explicitly come out against automation and in favor of Union Power.

          3. I’m surprised Canada’s ports are more efficient than American ports. Trump keeping his promise to his union supporters is not surprising.

            Exporting nations like Canada need more ports and better, more efficient ports.

          4. No, they won’t run better. Port management and facilities is only half the problem. The other half, for which there is no solution, is the shortage of rail capacity. Vancouver and Montreal are worked to the limit of what can be shipped in or out by rail.

            And there are no other ports that can be usefully developed. Development of Prince Rupert is halted by: 1. no rail access; and 2. a massive First Nations lawsuit.

          5. cgh: That’s yet another reason Alberta and Saskatchewan might be receptive to America. Constraints on the ability to move export products due to strikes, port and rail issues. It’s easier to build new rail lines south through Montana and North Dakota than through BC, Ontario and Quebec.

    2. Communist China likes Maple syrup don’t they? Think of all the new market opportunities!

      Oh well … you could have simply hardened the border. Now, Canada is no better a neighbor than the cartel operated Mexican nation. Nice job Trudeau and Canadian voters!

          1. That is a common trait among leftists. I call it “aggressive ignorance” in that his type work HARD at staying ignorant.

    3. Not so Dirtman. Take oil, we import it for Quebec and east: build the Energy East. Vancouver imports AB oil that is refined in USA: build a refinery in lower mainland. Having 97% of your oil exports going to one buyer is insane. Build Northern Gateway and Energy East.
      50% of Cdn beef is exported USA and small bits elsewhere (other 50% is domestic). Can’t export it to most countries because feds allow chemicals that most countries ban: make your product safe and allow your product to be sold elsewhere. You can ban that shit tomorrow. AB beef trucked to USA can be trucked to ON/QB which will replace imported USA beef.

  4. The depreciation of the Canadian dollar after the tariffs will blunt some of the price shock to American consumers.

    An effect I haven’t heard anyone talk about much is less tourism revenue for the US due to the weakened Canadian dollar. I’d expect Canadian travellers will choose other destinations but probably still not in Canada because of high airline, restaurant, hotel, gas and booze prices. Foreign countries whose currency is also weakening against the US dollar are likely the big winners. From a quick search, Canadians spend about 22 billion USD in the US.

    The American towns and cities along the border will also be affected by reduced cross border shopping day trips.

        1. Nice try changing the subject schmuck. The analysis I linked to was about prices for consumers, not about steel and aluminum output.

      2. Interesting. I will have to read both reports . I’m sure economists know that some products can have their prices reduced more easily than others or subsidized by central governments to maintain market share.

    2. I’ve made 5 trips from Canada to Australia in the last 17 years. The exchange rate is about 10-12 cents in Canada’s favour, and from my perspective hasn’t varied much in that time. After exchange is considered, a 5-star hotel room in Canberra costs less than a mediocre room in rural Saskatchewan. During my last trip through the USA, hotel rooms alone, for 4 days, after exchange, cost more than 9 days in Australian hotels. There is actual competition in gas pricing in Oz. A litre of fuel can vary as much as 20 cents between stations across the road from each other. Food is a bit more expensive, but when you consider most hotels have kitchenettes, you can reduce costs that way.

      Though you do have to pay for a visa to go to Australia, about $60 for a tourist visa, it’s worth it.

  5. Where Mr Shiff is wrong is his assertation that the US does not win with tariffs. They do. Jobs shift back into the US and the extra revenue can reduce the deficit lowering interest rates in the US. Canuckistan loses but we can minimize the losses by having the gubmint do nothing. Otherwise things will be even worse and that is the path that we will take because canuckistan is home to idiots. There are no other markets because what do you sell to broke people?

    1. Manufacturers are already at work planning to return factories to the US, most notably automotive manufacturing.
      It is enlightening to compare Trump’s approach to that of the Biden administration. Some analysts suggest that 50% of jobs created in the last 4 years are funded by taxpayers.

      1. According to Trumpy, returning factories to the US will definitely result in lower cost goods for Americans.

        a) If this was true, tariffs aren’t needed. Companies would do it themselves.

        b) If you were a US manufacturer, and your competitors are charged a 25% tariff, would you take advantage of this by raising your prices?

        1. Contrary to popular belief, the US already manufactures a ton of value but it’s not in toasters or other penny ante crap, it’s extremely high added value high impact machinery/equipment and it does not require a lot of employees. Part of the reason the US can do this is because the penny ante crap was outsourced and rightly so.

    2. ” Jobs shift back into the US”

      At massive cost to consumers and investment, which comes out to…fewer jobs. Your ideas failed in 1929, in the ’70s, in Argentina, and in Trump’s first term.

      1. Yeah, yeah … $200 toasters.

        Let me give you all the bottom line from THIS US consumer … the INSANE inflation post-COVID, and per-Biden have already been $PAID$. There’s literally NOTHING you can do to me that hasn’t already been done. I’ve changed spending habits and modified my lifestyle to survive and thrive.

        And in the overall inflation game … I’d much rather pay for repatriated American jobs, than pay for The Green New Scam and a massive expansion of do-nothing government “jobs”.

        1. ” There’s literally NOTHING you can do to me that hasn’t already been done. ”

          Yes there is, and Trump’s going to do it and it’s going to be a lot worse.

          “I’d much rather pay for repatriated American jobs, than pay for The Green New Scam and a massive expansion of do-nothing government “jobs”.”

          This is a false dichotomy and you have no business dictating the consumption choices for other Americans.

  6. Businesses are relocating south in order to bypass the tariffs and incoming U.S. restrictions. Canadian investment has dried up by 670 billion in the last 9 years, immigration has driven housing prices to insane levels, and manufacturing overseas has depleted our revenue generating options. The government posted a 60 billion deficit, after Freeland issued a 20 billion loan to the same group of indians and corporations that drove out trans X.

    We’re screwed, and lead by the dumbest group of children this country has ever seen. Don’t get me started on Carney, he’s even worse, and more committed to “the cause”.

    1. L – Indiana Jane and L.C. Bennett have summed it up well. The only counter measure, now that Trudeau has
      ducked out of responsibility politically speaking, that might help some. Perhaps help the C.P.C. keep their
      polling up, is if the meme “Mark Carnage” sticks.

      The trust society of social unity that helped Canadians weather natural and economic storms historically,
      is much weaker now, by design, and no revival movement but the Freedom Convoy, short lived as it was,
      has emerged. Canada needs a hero, a team thereof.

      Ironically, the only Canadian who has a proven ability to inspire Canadians to rise up in the face of suffering, to shoulder more responsibility and find a meaningful life in doing so. He has recently moved to the United States, in part for his own safety. (C-63) This as the prophet is more honoured elsewhere than in his own country.

      Historian Victor Davis Hanson has written of the Saviour Generals of history, who are found and step forward just in time. To Be Continued…

      1. Canada does not need a ‘hero’ it needs good ideas and intellectuals required to disseminate them. It also needs housing and true mass immigration.

        2. Canada doesn’t need mass migration at all. It needs sound government policy….and much, MUCH smaller government….at ALL levels.

      2. Maybe change it to “Max Carnage” instead of “Mark Carnage” I think we are in for a world of hurt. I often look at the value of Gold to see how our currency has been devalued. When Trudeau was elected Gold was $1500 CAD per ounce – now it is $4069 CAD so theoretically our dollar is worth 37% of its former value.

        1. Reluctantly, due to pressure from my tenant, I started investing in gold 5 years ago. I thank him every day…

    2. +++i J. Canadians just seem to be too dumb see the truth.
      Even animals in the wild do not pick the dumbest and weakest of the species to be the leader, unlike Canadians.

    1. “Governments effectively control everything except crime”

      I suggest that in Canada and the US, governments are doing an aggressive job at facilitating crime, and actively not punishing those who steal or assault.

  9. That is the unique nature of a trade war. Each side suffers most from its own offensive.

    I want to tattoo this onto my chest.

    “The best way for Mexico and Canada to win is not to retaliate. That would include not providing any subsidies to exporters or any attempt to weaken their currencies. That would only reduce the sting tariffs have on Americans, shift the burden to their own people, and prolong the trade war.”

    Please someone send this tweet to Spencer Fernando.

      1. You know sometimes I call him a real dummy but I am in agreement with you as well. That is twice in one week. I must losing it.

    2. And yet the tall foreheads in Ottawa are pretending that we can fight back with our own tariffs.

  11. I’ve followed Schiff for last 30 or so years, can’t remember the last time his advice ever helped anyone make money, perhaps this time, as far as consuming our own exports that are being tariffed , hard to do that on things, like grain, beef, pork, cars, oil, potash and minerals and dozens of other items that we produce an excess of.

    1. He was completely right about the coming crisis back in 2007, almost completely wrong about what would happen after.

      1. Meh. I knew the real estate crash was coming and frankly overdue in 2007. Why? Simple … the Senate Banking Committee chaired by Frank Dodd and his fa&&ot butt buddy Barney Frank FORCED US Banks to make mortgage loans to anyone and everyone regardless of financial wherewithal. Everyone took advantage… and properties weren’t being paid-for. The whole charade collapsed. Only an IDIOT didn’t see the bubble bursting. Only people who actually believe that allowing “black folk” who cannot afford to buy homes … to “buy” homes … thought the bubble could keep inflating forever. Morons.

        And who profited? Those with the means to buy properties for pennies on the dollar. I knew of many local “investment groups” of Doctors, Lawyers and other well heeled investors who swooped in and bought giant portfolios of upside-down real estate. Not to mention Blackrock and other Big Boys.

  13. “best way for Mexico and Canada to win”

    This is delusional. 25% tariffs on all the cars made in Ontario, almost all of which go to the US, will cause the big automakers to shift almost all production away from Ontario (Trump promised this to the unions). Ontario’s economy is already a jenga tower based on absurd property valuations and a hyper-bloated public sector. It won’t take much to trigger a domino-effect implosion. The Canadian banks are vulnerable.

  14. I am hearing rumours that the feds are about to announce a massive greenhouse project to grow oranges in Quebec and Newfoundland. Take that Trump!

    1. The rumor I heard was that CA was going to provide foreign aid so that Greenland can grow bananas, thereby blunting Trump’s territorial expansionist ambitions.

  16. If Canada was a healthy adult nation instead of a little pissy-pants state it would respond to this challenge as an opportunity to buckle down and rebuild towards self-sufficiency.

      1. And on a clear night, when the wind is just right, if you listen carefully you can hear the drip, drip, drips hitting the nursery room floors.

  17. Don’t turn on Corus radio today. They are in a state of hysteria. Excited delirium. It’s end times.

    Thank christ for hockey

  18. Are we taking bets where the CAD opens on Monday? If the tariffs are intact then I say 0.65 c. Any other guesses?

  19. Get ready for Universal Basic Income to be instituted as soon as possible courtesy of Jaggy and Socks in order to “protect and save” Canadians

  20. I’m a lumberjack and I’m not okay …

    … if we don’t export as much timber to American markets, it will leave an option for incentives to increase Canada’s home construction rate, use resource(s) in Canada — not saying government programs to build homes, but tax incentives for private enterprise to do so; these tariffs probably won’t last too long because it’s a bad idea and won’t work as Trump expects, the longest it can go is four years, but I’ll guess ten weeks. A successor from either side will probably have clearer ideas about economics and drop them eventually.

    I like most of Tr mp’s agenda b t t is and RFK seem like bad ideas to me.

  21. People who still believe in free trade are retarded.

    A trade deficit makes your economy smaller.

    Eliminating the deficit makes it bigger.

    It may cost more for certain items, but it is offset by the increase in jobs and not sending money away.

    It’s not rocket science.

    1. No it doesn’t. ‘Trade deficits’ don’t exist and the money comes back as investment. Your ideas have failed for centuries.

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