Donald Trump is prepared to drop Canada as a trade partner based on his recent comments in Davos at the World Economic Forum. “We don’t need them to make our cars, and they make a lot of them. We don’t need their lumber because we have our own forests,” he continued. “We don’t need their […]
Stéfane Marion, chief economist of the National Bank of Canada, has urged the Canadian government to reconsider their own trade barriers amid criticism of Donald Trump’s proposed tariffs. The International Monetary Fund (IMF) stated in a 2019 study that Canada’s own restrictions are “regarded as the most comprehensive analysis of internal trade barriers.” Rather than […]
Germany’s failing auto sector may prove to be an integral power play for China, as Chinese OEMs are eyeing soon-to-be vacant Volkswagen (VW) factories. Volkswagen plans to close at least three factories by 2027 due to declining sales amid the country’s exigency to eliminate fossil fuels. Germany once looked to China to offload vehicles, but […]
US-Canada relations under the Trump Administration are beginning on tumultuous footing. Trump has promised to slap Canada with 25% tariffs on ALL imports if it fails to curb illegal immigration and drug trade from the northern border. Trudeau is now threatening to retaliate with tariffs of his own. The Bank of Canada has factored in […]
CEO of Lucid Motors and a former VP of engineering at Tesla Peter Rawlinson says his company is stuck in the EV “valley of death” as EVs in America “frankly suck.” Rawlinson admitted that China has an advantage in technology, but more over, they have the ability to produce affordable EVs. “I think the Chinese […]
Nippon Steel, a Japanese company, has offered to buy US Steel for $14.9 billion, yet both President Joe Biden and president-elect Donald Trump strongly oppose the deal. Both men believe it is vital to keep the historic company domestic. But why has America’s steel industry become less competitive? Demand for steel fell 0.4% YoY during […]
Russia’s Security Council Secretary Sergei Shoigu announced that Russia would remove the blacklist status from the Islamic Emirate of Afghanistan (IEA) in anticipation of a lucrative trade and transportation deal. The Trans-Afghan Corridor railway service will connect Afghanistan to ports in Uzbekistan and Pakistan. The 573 km railway is expected to cost between $4.8 billion […]
Mexico’s new President Claudia Sheinbaum is asking Trump to use a bit more common sense when threatening to implement tariffs before a tit-for-tat game ensues. “One tariff would be followed by another in response, and so on until we put at risk common businesses,” Sheinbaum said. It would come as no surprise if the incoming […]
Donald Trump wants to ensure that America’s neighbors to the north and south help him fight the migrant crisis, announcing that he will punish both Canada and Mexico with a 25% tariff on goods until migrants stop crossing into America from their lands. Justin Trudeau reportedly called Donald Trump within two hours of his public […]
Donald Trump believes tariffs could offset taxes, but tariffs will be a tax in itself to the American consumer. Trump is proposing to raise taxes from 60% to 100% on Chinese goods. He would also like to implement a universal tariff from 10% to 20% on all international imports. Ultimately, the consumer will end up […]
