Cost of living is about to spike yet again for Americans – Joe Biden moves to double tariffs on Canadian softwood lumber imports – May 21, 2021,
Although Justin Trudeau preferred Joe Biden over Donald Trump, I’ve been saying since the 2020 election that Joe Biden is Justin Trudeau’s worst nightmare, because Donald Trump opened the flood gates for tariffs which most people usually associate with the Democrat Party.
Usually, the Republicans push back against tariffs, well, being that Trump-style politics is popular in the Republican party, tariffs seem like a good idea, after all, Canada charges Americans all sorts of tariffs, that’s the whole schtick with the Department of Canadian Heritage, keep American competition out so stupid Canadian voters can pay more money for locally made and imported goods which in many instances Canadian companies are incapable of producing because of the ridiculous costs of running a business in this country.
Although the article below attempts to make the case that producers pay the tariffs the truth is the consumer pays the tariff, especially when it comes to lumber. No private company is going to operate at a loss selling lumber, does anyone know how labour intensive the lumber industry is? Must of you welfare-loving Canadians won’t last a day in the lumber industry. Especially with a booming housing market, lumber prices in U.S dollar terms are going up.
Lumber prices might be going down based on today’s price, but they’re definitely going to remain higher than pre-pandemic levels. Joe Biden is truly an idiot, but Americans who voted for Biden will learn that the hard way. On the Canadian side, I’m not sure what type of impact this will have, I know most Canadian companies make the bulk of their money selling into the U.S market, so I don’t know the impact this will have in Canada, this will warrant further investigation on my part.
Because Canada is a much smaller market, if Canadian lumber producers lose the U.S market, they might scale back production, meaning they’ll cut Canadian jobs. I know all the socialists in B.C want lumber companies in Canada to go out of business, but at the same time, they want more affordable housing, this oddly ties into my next argument.
For me, all this looks like the Bank of Canada is going to have negative interest rates, because this move by Biden is actually a TAX on the U.S consumer, and in Canada, the only new tax Canadians have been paying under Justin Trudeau is the carbon tax, which America also has, so it negates itself.
Being that Canada has been tariffing the hell out of American-made and/or manufactured/assembled goods for years without a reciprocal tariff this move by Biden might force the Canadian dollar up. Most Canadians don’t know we’ve been playing unfair with America for years, which is why it doesn’t surprise me that Leftists in Canada want to use the Department of Canadian Heritage to limit freedom of speech for Canadians.
Eventually, the Welfare State comes for everything you cherish. Most Leftists are greedy, they imagine money is something it’s not and they don’t see anything wrong with taxing/stealing from one segment of the population to give to another segment of the population.
Being honest Justin Trudeau is lucky Joe Biden is lazy because I thought Biden to get the Union vote would have been tariffing a lot more than just lumber by now. Anyway, when Biden “won” the election this should have been expected by Canadians, Democrats love raising taxes and this tax is good for the labor unions of America.
If Joe Biden is polling low, it wouldn’t surprise me if Biden finds something else put a tariff on, what are the Republicans going to say about it? Nothing! Because Trump did it and there’s still a chance for Trump to run again in 2024. If I were Joe Biden I’d tariff the hell outta Canada Canada has a bunch of silly environmental socialists in charge anyway, what are they going to do? What’s Canadian media going to say?
Joe Biden can use the tariffs to get more union votes, and the stronger Canadian dollar will make it even harder for Canadian companies to compete in America. All that aside I think the Canadian dollar is going to continue rising, it might have a dip here and there, but the more socialist America gets, the more promising things look for the Canadian dollar in the decentralized forex markets.
Yes, I know Canada’s economy is dependent on us manipulating our currency to sell into the U.S market at a cheaper price, but Joe Bidens in charge now, and what I see is negative interest rates being introduced by the Bank of Canada! As a matter, of fact, this tariff by Joe Biden will provide Tiff Macklem with an excuse to lower interest rates.
U.S. moves to double tariffs on Canadian softwood lumber imports | globalnews.ca
Interesting times ahead!