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Icetoad 🍕 🎩 🐈
@icetoad.eth
2 cast thread... Canada collected $1.95 billion CAD ($1.42 billion USD) in tariffs during the first three months of the year. This is up 39% on the quarter due mostly to steel, aluminum and various other tariffs levied beginning in March in response to Trump’s tariffs. That's a huge increase considering these reciprocal (actual reciprocal, not Trump's version of reciprocal) tariffs were in place for less than 1/3 of this quarter. This takes into account repayments made to importers as part of existing relief programs etc. Most of this will be redirected to support industries and workers struck by the trade disruptions. About 70% of these reciprocal tariffs are still in place, while the other 30% have been removed in recent weeks as trade talks continue. The government expects to collect $20 billion CAD ($14.5 billion USD) in tariffs this year, assuming levies continue at current rates.
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Icetoad 🍕 🎩 🐈
@icetoad.eth
Let's hope (for both the USA and Canada's sake) that a mutually beneficial deal can be constructed and/or SCOTUS upholds the trade court's ruling striking down most of Trump's tariffs. Side note: Make sure to consider these numbers in light of Canada's population of about 39 million people compared the the USA's population of 340 million.
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Nerd-E 🎩
@nerdy
Hey you guys should use that money to build a wall that America technically paid for.
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