The Imperial Presidency

[robkelk]

Well, it's started.

The first volley of the trade war was fired by Governor Trump at midnight.

The first response was made by Prime Minister Trudeau one minute later.

Looks like I'm not doing business with American businesses for the duration... including Amazon or WalMart. Sure, its a drop in the bucket, but at least it's something.


EDIT: Trump's tariffs roil U.S. markets. And that's the reaction that matters.

The president caused an instant swoon with several simple words: "The tariffs — they're all set," Trump said on Monday, confirming a 25 per cent duty on most products was coming today, and that there was nothing Canada and Mexico could say to dissuade him.

Markets replied by quickly wiping out their entire gains for 2025, with the S&P 500 losing 1.76 per cent on the day, triggering hundreds of billions in losses in what Bloomberg's evening newsletter called, "the Trump sell-off." The drop continued Tuesday morning, with stocks further declining after the opening bell.

Gvernor Trmp might not care about Canada, but you can bet he pays attention to Wall Street.