Is Trump’s 270% Tariff Claim About Canadian Milk True?
According to the following video here’s what is being said about 270% Tariff Claim About Canadian Milk
President Donald Trump spent much of the G-7 complaining about Canadian dairy tariffs, mentioning it repeatedly during a leaders’ session on trade, one official said. He seized on one number in particular: Canada’s 270 percent tariff on certain products. Bloomberg’s Simon Casey talks with Bloomberg’s Alix Steel about the truth and the issues surrounding the tariffs. (Source: Bloomberg)
You can watch the video by clicking the link below:
https://www.bloomberg.com/news/videos/2018-06-15/is-trump-s-270-tariff-claim-about-canadian-milk-true-video
So is Trump’s 270% Tariff Claim About Canadian Milk True? Of course, it is, In Canada, we’ve been living in a bubble, in fact, what a lot of Canadians don’t know is that our cost of living should be at least 25% lower, but at least for the foreseeable future Canadians don’t seem to care too much about economics, it’s what happens when you have government watchdogs in every sector of the economy.
Canadians often look down on what they deem as chaos in the American economy, and why shouldn’t they? they’ve enjoyed a higher quality of life, they’ve often been tops in the G7 nations and Canada on a global scale is one of the most desired places to live. What’s not being talked about is how we got here, unfortunately, we got to this position mostly at the expense of our largest trading partner the U.S.
One of the things that frighten Canadians is thought of becoming a U.S State. If Canada became a U.S State it would resemble Detroit in 2018. Why? Because most of the entitlements Canadians hold dear would be in U.S dollars and controlled by the U.S Federal Reserve, most of the protections Canada has in Agriculture would disappear because, for the most part, Americans hate bigger government.
The question in is why do Americans hate bigger government while Canadians don’t? The reason is the courts, Americans love to sue, Americans also love to challenge things, Americans love to rip off the government, Americans love to exploit loopholes, the premise of around 50% of American thinkers derives from free market principals, Freedom and liberty. In Canada I would guess it’s around 10- 35% of Canadians even comprehend how the free market works. In actuality majority of the Canadians that understand the free market are in or own a business themselves.
I say this all the time and goes over peoples heads. Canada has 4 dominant left-leaning political parties the Liberals, The NDP, The Greens and the Quebecois, Canada is so left-leaning that the Conservative political party is forced to have left-leaning views also. Recently Andrew Scheer removed Maxime Bernier from Conservative party’s front bench in the House of Commons. Why you ask? Because Maxime Bernier exercised his freedom of speech.
Have you ever heard some of the crazy things that come out of Republicans mouth’s in the United States? You seldom if ever see that happening in the U.S because, in America, everybody and everything is fair game, so both the public and private sectors in the U.S can be brought down to earth by the mainstream media or the independent media. In Canada the fourth estate wields most of the power, there exists a Fifth Estate in Canada, but it’s influence hasn’t matched that of the United States, primarily because Canadians have a lot more trust in their government than the U.S does.
How this relates to Trump’s 270% Tariff Claim About Canadian Milk is that of course, it’s true, but do you think most Canadians care about the facts? Of course, they don’t, the fact is Canadians pay more for everything because of regulations and Unions. The truth is that Canadians like what they perceive to be “FREE” stuff from the government. A large number of Canadians also believe that the Canadian standard of living will go unchanged if Trump’s tariffs remain in full force. A large number of Canadians are comfortable with the idea of Corporatism and big banks.
Canadians are okay with the government giving their money to uncompetitive Corporations because a large number of Canadians feel like they’re doing the right thing. In America, only about 40%, of the people view the world this way. This is why I don’t think Canadians are understanding what’s coming, you know what’s taken a backseat to Trump in Canada? 1 is the depreciating Canadian dollar, I’ve been saying this for months now, I have no idea why the Canadian dollar is even as high as it is now vs. the greenback. If I were looking at fundamentals and long-term growth forecasts of the Canadian economy I’d say it should cost the U.S $0.59 cents to purchase $1 Canadian loonie.
Justin Trudeau intentionally ran a deficit, big deal right? No, while running a deficit Trudeau also raised taxes and his finance minister was hell-bent on restructuring the corporate tax code, guess what Trump did? trump got rid of regulations and lowered taxes and now implemented a tariff on every one of it’s trading partners. Now what Trump did, may hurt the U.S down the road if the rest of the world does nothing, but the fact that Canada, Mexico, China and the EU implemented their own tariffs is an indicator that they don’t need the U.S to purchase their goods, something I think is a huge mistake.
Because Trump’s trade war is waiting for game, and Canada I hate to tell you but you have a lot of citizens in debt, you have an inflated price market all over the place and guess what else, all your government and unionized employees have pay scales that keep up with inflation, meaning you’re trapped, notice I didn’t mention unfunded liabilities, pensions, welfares etc. The Canadian economy has crashed before and oddly enough the person that created the damage, former Prime Minister Pierre Trudeau wasn’t the person that took the blame. The Politician that took the blame for Pierre Trudeau was Brian Mulroney. The person who cleaned up the mess was Paul Martin and I personally found it funny that Bill Morneau unknowingly went after a “loophole” the Paul Martin created to justify entitlement spending.
In my view, if I were Justin Trudeau, this would have the best time to do nothing, even if it were temporary I would give in Trumps demands and simply play the waiting game, this tit-for-tat tariff not really my style I would have also matched Trump’s taxes and his regulations and tell Canadians this is a temporary measure that Canadians will have to swallow until America hires a new politician. But now, because of Justin’s action, word has spread and well let’s see how things unfold.
Interesting times ahead.
