The 35% Tariff on Canadian goods is because Canada floated recognizing a Palestinian State.
Prime Minister Mark Carney has tempered expectations over tariffs, saying Ottawa would only agree to a deal “if there’s one on the table that is in the best interests of Canadians.”
fortune.com
This will fuck over the US car industry as tons of auto parts pass back and forth over the northern border. A big sales tax Americans will have to pay because Canada hurt Israel's feelings! LOL more
Ameri Israel First from Trump! This is right after he printed billions of Inflation Bucks to pay for Israel's fake WMD war against Iran! America Last! LOL!
Most tariffs haven't been passed on to consumers yet because:
1) Most tariffs didn't go into effect until today
2) Corpos started panic buying and stocking up earlier in the year
3) The tariff rates keep changing. Corpos are waiting until they stabilize to decide exactly how much they will fuck us all over.
The true cost of the tariffs won't be felt until the end of the year.
The Dollar has DECLINED to worst level since 1972
You ain't seen nothing yet. There's a good chance tariff based inflation will coincide with the Federal Reserve being bullied into lowering rates for political reasons. This is what Erdogan did with the central bank in Turkey. The result: people and companies started rushing home to spend their money while their money was still worth something. It did make a nice, temporary bump in their GDP (before the crash).
Now, you might say. "America isn't Turkey". Yeah, well Turkey wasn't Turkey until they elected a dumb strongman who permanently fucked their money up
