On Monday, Donald Trump once again announced a series of massive tariffs on Canada, Mexico and China. I say “once again” because we already went through this a month ago, and Trump backed down like an idiot drama queen. This week’s tariff announcement immediately tanked the stock market, with the Dow dropping 700 points on Tuesday, sending global markets into a tailspin. Hours before Trump’s State of the Union address, Prime Minister Justin Trudeau addressed the international media and the American public:
Canadian Prime Minister Justin Trudeau on Tuesday called American tariffs “very dumb” and said that U.S. President Donald Trump is appeasing Russia while launching a trade war against Canada. In a blunt news conference during his final days in office, Trudeau said that Canada would plaster retaliatory tariffs on more than $100 billion of American goods in response to Trump’s 25% tariffs.
“Today the United States launched a trade war against Canada, their closest partner and ally, their closest friend. At the same time, they are talking about working positively with Russia, appeasing Vladimir Putin, a lying, murderous dictator. Make that make sense,” a visibly angry Trudeau said.
Trump imposed tariffs against Washington’s three biggest trading partners, drawing immediate retaliation from Mexico, Canada and China and sending financial markets into a tailspin. Just after midnight, Trump put 25% taxes, or tariffs, on Mexican and Canadian imports, though he limited the levy to 10% on Canadian energy.
“What he wants to see is a total collapse of the Canadian economy because that will make it easier to annex us,” Trudeau said. “That is never going to happen. We will never be the 51st state. I want to speak directly to one specific American, Donald. It’s not in my habit to agree with the Wall Street Journal, but Donald, they point out that even though you’re a very smart guy, this is a very dumb thing to do.”
Later Tuesday, U.S. Commerce Secretary Howard Lutnick said the U.S. would likely meet Canada and Mexico “in the middle,” with an announcement coming as soon as Wednesday.
Lutnick told Fox Business News that the tariffs would not be paused, but that Trump would reach a compromise. “I think he’s going to figure out, you do more, and I’ll meet you in the middle in some way,” Lutnick said.
It’s the immediate backtrack by Lutnick for me – that’s exactly what happened a month ago. Trump announced tariffs, Trudeau and Mexico’s President Claudia Sheinbaum Pardo reacted with anger and disgust, and Trump backed down. At the SOTU last night, Trump also promised to do it again next month, to add even more tariffs on April 2nd. Here’s the thing – while it’s great to see average, everyday citizens to protest Trump and the Republicans, the Trump cultists are not going to stop this sh-t until they hear from the business class, their donors and the only political base they care about. Rupert Murdoch is trying to communicate with Trump through the Wall Street Journal, and I have to wonder when the Republican donor class will flat-out demand that Trump quit the theatrics. As for Trudeau… I feel so sorry for all of America’s allies, especially Canada. It’s like they’re just trying to exist and the crackheads who live in the basement keep breaking into their apartment to steal sh-t.
Photos courtesy of Cover Images.
