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I think Trump wants Canada to do as they are told - under threat of bankruptcy.
yes they are indeed short-sighted
what will probably happen is that the auto sector won't shut down in a week, they will access credit markets if the business isn't profitable in the short term, eventually an agreement will be reached, and the tariffs will be lowered or removed.
The point is control and power.
Billionaires resent being subjects of a nation state, rather than the government being their subject.
This is a coup to burn down the government's capacity to hold them to any accountability.
It doesn't matter if the poor suffer.
Even Michael Pettis, a very pro tariff economist doesn't support them. That should raise alarms among people trying to spin this as something good for American manufacturing
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Michael Pettis
@michaelxpettis
1/5
I know that implementing tariffs on Canada and Mexico is done for political reasons, but we should be very clear how inconsistent they are with a functioning trade policy. In fact these tariffs will actually make US trade deficits larger.
bloomberg.com/news/articles/
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that the bipartisan partnership which enacted globalization and "free trade" which didn't trickle down. You gave us Trump.
