Trump's Wildin' with Tariffs: Canada in the Crosshairs 🎯🇨🇦

The Tea is Piping Hot ☕

Alright, fam, listen up! Trump's pulling a power move and hitting Canada with a massive 35% tariff on imports starting August 1st. Why? Apparently, it's a retaliation for earlier duties and some beef about fentanyl enforcement. It's giving "messy breakup" vibes, TBH.

But wait, there's more! This 35% is just the tip of the iceberg. We're talking existing tariffs on steel, aluminum (like, 50%!), cars (25%), and now a fresh 50% tax on copper starting August. And don't even get me started on the 10% levy on Canadian energy. It's a whole economic apocalypse, no cap.

Canada's Prime Minister Mark Carney is trying to keep it chill, saying they'll keep working with the US, but also defending Canadian workers and businesses. He's basically saying, "We're not gonna sit here and take this," which, honestly, good for him.

They're supposed to start talking again on June 29th, trying to hash out a deal by July 21st. Let's hope they can sort this out, 'cause this could affect everything.

Economists are low-key stressing about how this might mess with the housing market. A small trade war could drop interest rates and give housing a temporary boost, but a full-on brawl could seriously hurt demand. And with Canada's economy already looking a bit shaky, this is def not the vibe they need.

To make matters worse, the US has a $62 billion trade deficit with Canada, and it's been getting bigger this year. So, yeah, tensions are high. Will they kiss and make up, or is this the start of a major economic beef? Stay tuned, besties!

Trump also said he might revise the tariffs if Canada helps stop the fentanyl flow. So, basically, he's using tariffs as leverage, which is kinda sus, but okay.

He also floated the idea of even HIGHER tariffs, like 15-20% on MOST trading partners and even 50% on Brazil. This is escalating QUICK. Brazil's President is like, "We can survive without the US," which is a whole mood.

China's throwing shade too, warning against trade wars and saying they'll retaliate if anyone tries to cut them out. The EU is kinda open to a 10% tariff but wants some exceptions.

And get this: copper tariffs are gonna affect power grids, the military, and data centers. So, basically, everything. Vietnam's trying to lower the tariff rate they agreed on, and Mexico's like, "We'll just sell our copper somewhere else." Chile's just waiting for someone to slide into their DMs with official info.

German exporters aren't willing to make a trade deal "at any price." It's a whole mess, and honestly, I'm stressed.