This may turn out to be a blessing in disguise for Canadians. It could force us to find more world wide markets and become less economically tied to the USA.
If the felon does go through with his proposed tarriffs, I would expect the economic impact of that decision will give the Democrats both the houses of Congress in two years.
Here's the thing (and I admit i haven't investigated this claim) apparently FOX and other right wing news agencies are spinning that Biden has left the trump administration an economic ticking time bomb that's going to explode the economy after Trump's in office.
Trump will feed Americans with total PROPAGANDA. He has Musk and Zuckerberg at his hand, TikTok will be banned. Basically the Social Media Will turn into Trump propaganda media... Creating hysteria about immigrants, woke, DEI, Democrats, Antifas, so on... Diverting from America real problems.
So Russel, President Biden created 15.7 million jobs unemployment is the lowest since the 1960's. I'd compare that to Trump's economy before you embarrass yourself
Of course he will lie about the numbers, cooking the books and lying about it, is what he does. Both civil and criminal courts found him guilty in NY for just that sort of thing. It's who he is.
This is the guy who wrote with a sharpie on a hurricane forecast because he mis-spoke about which state it was headed for. Of course he'll change numbers to fit his agenda.
It appears to me that Trump wants to raise taxes without having to raise the income tax rate. In this way, he can tax the people without taxing the Rich
I already left the USA because of Trump winning the election. Right now I am enjoying Australia and taking advantage of a progressive country that embraces immigration, multiculturalism and is moving forward.
would be great if Krugman do a case study on India's tariff economic debacle of the Nehru and Gandhi era. Its a PERFECT case study on how tariff would work out for US.
Canadian here... while no one wants to see a trade war that would harm both our economies, we Canadians must stick up for ourselves. The president-elect's repeated insults are profoundly disrespectful of a country that has consistently had the US's back since WWI, and only serve to strengthen our resolve. Art of the deal or game of economic chicken... it would be naive to think we won't respond in kind to threatened US tariffs; and understand that 36 states rely on Canada as their #1 export market. So this is going to hurt right back. Double the pain actually, with US tariff-induced inflation, plus the loss of US jobs as your top export market implements its own retaliatory tariffs. Party like it's 1929! Also, if you exclude oil, there is no trade deficit... the US is in surplus on goods and services so who's "subsidizing" who exactly? As in any relationship, of course there are disputes, but big picture: we have a level playing field between our two countries and this is a completely unwarranted provocation that will only serve to kneecap both our economies. The saddest thing about it is that we are not only neighbours, but we are (used to be?) each other's' best friend and ally; capable of accomplishing tremendous things when we work together. This chaos is exactly what China and Russia want... far easier and far more productive to simply work with your allies in the first place. Miss our old friend.
The poor and middle class are the ones who will suffer with this tariff policy against Canada and Mexico. Higher prices and higher unemployment will result.
Chat gpt: If a 60% tariff were imposed on imports from China and the full cost were passed on to consumers, the impact would be approximately $809.67 per person in the U.S. population
@@Joe-ij6of you're both too generous...he's playing futures on commodoties before he enters office, profitting off the market flunctuations he's causing.
Manufacturing left the US due to regulation, enviromnental concerns and labor unions/labor costs. If tariffs raise the price floor of products, the only variable domestic industries can change is the unions/labor costs which in the modern age can be done with automation. Few new jobs are made in returning industries, but the overall rise in the cost of products shrinks the buying power of consumers which results in the overall loss of jobs. Protective tariffs don't generate tax receipts because they are designed to discourage foreign purchases. This doesn't even touch how this will affect the reciprocal purchases of foreigners for our goods and services.
As I was fed up with propaganda, I just googled 'US economy 2014-2024'. 2 observations: -As economy is based on growth, any president can always claim "the economy was best under me". -Economy goes up well under the end of Obama, continues the same way under Trump until it gets completely smacked by covid, starts slowly picking up under Biden, then picks up good speed again. It's quite unsurprising, and not much to shout about.
60 percent for China. You know that they have the rest of the world to sell their products to and they could just forget about dealing with the U.S. along with all the treasuries bonds they have to dump on the market.
@ nope. China holds 859 billion u.s. treasury bonds. The u.s. itself has more debt .But it is debt to itself to its own treasury. 36 trillion dollars. The second biggest holder of u.s. debt is the treasury. The deficit. For each American citizen the debt is 156000.00 dollars. The u.s. doesn’t even produce enough money to cover the interest payments if rates are to rise. Right now the interest payments are higher than the cost of the u.s. military. The world knows this that’s why they have decided to go for alternative money for trade. BRICS. All information is available on search.
@@michaelurban2815 Just like China buys US debt, US also buys China's debt incase it dumps US bond, it can dump Chinese yuan. India which itself is a BRICS member has said it will promote US dollar instead.
@@niweshlekhak9646 - You said, "US has more Chinese treasury bonds than China has US treasury bonds." Probably now. I just saw an article on how China is dumping US debt.
Pile-on about tariffs. The world economic system has gone off the edge of the table. Bloomberg has a business network. If you disagree you will suffer. Trump has done nothing but talk. I believe that they will blame the fall of the western world on Trump and not the 1932 government we have in 2025. We are in serious trouble. I can wait to see what the Federal Reserve implements; I tremble.
What Trump is about to do is exactly what caused the crash in the 1930s. You might remember Smoot-Hawley, Republican insanity. Even Ferris Bueller had to learn it.
The USA is in trillion dollar deficit. Trump imposing tariffs helps them combat their deficit. Tariffs adds up per country. We must always look beyond the threat and why he is doing it.
I can tell you why, Paul. He wants a steady stream of tariff income as a budgetary offset for his tax cuts for the wealthy. He really is that selfish. That's why he's not being truthful or rational. He's not interested in compromise or negotiation.
``soft landing``- ooo yea , that is certainly true, that is why foreign investors demand higher yield on bonds and yes they get it. Interest rates are go up, 100% proof of ``soft landing``.
unless if there's no homeless in all major cities and everyone is making a decent living, and that the country is not all time high with its debts, no one can claim that US is "doing pretty good". with all it's strength and mighty, it can't even manage to contain a fire while the city is next to an ocean.
@ given today’s available technologies, you should be able to discover which countries with no homeless people instead of being naively ignorant on this topic. America cannot be all that great if there are bots like you that thinks having $36 trillion in debt and making un provoke threats to its trading partners is OK.
Your answer is a non answer, USA is not the only country with a homeless population, in fact the people’s Republic of China has a unemployment problem with many homeless people. You should also know that California is not flat so you implying that being close to an ocean should be the answer to fire fighting is ridiculous You deflect a lot but give no answer. Also I never promoted nor said I agreed with tariffs. Your comments were insulting and inaccurate
@@drewigloo it was you who stated "homeless people" is "everywhere", and my response was there are many places/countries with no homelessness issue. it is a fact and can't be just dismissed like you did. and your attempt to start discussing China have homeless issue is just a random rant with no context or preface to this topic! you sounds like you ran out of steam from your non-sense! and you ridicously mentioned that California is not flat so the use of ocean water is pointless - it is mind boggling that you didn't know a number of out-of-state rescue planes are being used that actually scoopes ocean water to fight the fires. go back to my original statement, I pointed out that with a number of dire situations with the US, such as homelessness, cost of living, high national debts and inability to contain fires for a city that's right next to an ocean (
Tariffs have MANY uses. First the U.S. has to want something from another nation. Lets say we want Canada to secure its border, or else we will impose tariffs. Canada exports 76% of ALL their goods to the U.S. This means the U.S. can impose tariffs on 76% of all Canada's exports. ouch. Now Canada can impose tariffs on U.S. goods. The U.S. exports 15% of all our goods to Canada so Canada can ONLY put a tariff on 15% of our exports. Who will this hurt THE MOST? At this point Canada gets wise and secures their border. Any questions?
It is not Canada or Mexico responsibility to secure the US border. What or whom goes into the US is the US responsibility. The felon had 4 years to secure the borders, he failed. Petty felon can never admit he failed so he points his fingers at others to blame.
It's the type of goods being taxed 25% that Americans will have to pay on oil and energy that will hurt most. Traditionally, Americans like low costs at the fuel pump and don't want increases in electricity prices. Canada will target surgically Red states products to maximize punishment on Red states exports and buy more from states like California, etc. So Canadians can avoid this tax. In the end, tariffs between the U.S. and Canada just benefits China.
Paul Krugman is delusional with academic success; ive studied his works and moved onto other more interesting topics like productivity analysis. We have obvious excess labor capacity in America and people who replace their iphone every year... lets be real... theres more to a real goods economy than higher prices
Trump economics: we bring back jobs from China and deport millions of people... And everyone will be very wealthy, and no inflation because he will make prices go down.... Yeah, that makes total sense. 😂😂😂
This may turn out to be a blessing in disguise for Canadians. It could force us to find more world wide markets and become less economically tied to the USA.
We should join the EU at this rate.. (I am Canadian)
And maybe the government will start spending serious money on building up our armed forces to where they need to be.
join BRICS!!
British Columbia has been doing this. Alberta, Ontario, and Quebec have not.
@@BMan100how about doing something independently instead of jumping from freeloading from USA to free loading from eu ?
His first term was a diplomatic nightmare. With his stated vengeful intent the US is on track for pariah status.
US already has 100% tariff on Chinese vehicles. Which is why here in Mexico we have BYD and MG EV's on the roads, while the USA is driving shitboxes.
Trump’s boss Musk wants to keep it that way.
The Canadian people are starting to call for Tesla to be on the list of retaliatory tariffs.
Musk subsidy
🌍 leaders who Chump is threatening tariffs should get together and place targeted tariffs on certain 🇺🇸 industries 😅
@@KathyG-388they are tariffed now as they are made in China not the US.
If the felon does go through with his proposed tarriffs, I would expect the economic impact of that decision will give the Democrats both the houses of Congress in two years.
Here's the thing (and I admit i haven't investigated this claim) apparently FOX and other right wing news agencies are spinning that Biden has left the trump administration an economic ticking time bomb that's going to explode the economy after Trump's in office.
And as usual....dem would be wrong....yet again
It doesn’t matter if you’ve got bitten by the cat or the dog, both hurt…….
Trump will feed Americans with total PROPAGANDA.
He has Musk and Zuckerberg at his hand, TikTok will be banned.
Basically the Social Media Will turn into Trump propaganda media... Creating hysteria about immigrants, woke, DEI, Democrats, Antifas, so on... Diverting from America real problems.
So Russel, President Biden created 15.7 million jobs unemployment is the lowest since the 1960's. I'd compare that to Trump's economy before you embarrass yourself
The usa must realize that there are 159 other countries to trade with not just usa!
Their republicans literally have no idea. None. They think there are six countries in the entire world.
You mean "Canada must realize?"
Of course he will lie about the numbers, cooking the books and lying about it, is what he does. Both civil and criminal courts found him guilty in NY for just that sort of thing. It's who he is.
This is the guy who wrote with a sharpie on a hurricane forecast because he mis-spoke about which state it was headed for. Of course he'll change numbers to fit his agenda.
Thanks a lot Maga. We will be paying for your vote for decades to come.
When it backfires he'll say it's because the world doesn't understand what a genius he is.
It appears to me that Trump wants to raise taxes without having to raise the income tax rate. In this way, he can tax the people without taxing the Rich
Part of the Republican motto.
I already left the USA because of Trump winning the election.
Right now I am enjoying Australia and taking advantage of a progressive country that embraces immigration, multiculturalism and is moving forward.
''a progressive country that embraces immigration, multiculturalism and is moving forward.'' That is not correct, check this comment out folk.
@@edwardbernthal160
They are after all, part of the collective west.
Highest rent increase in the world 🤚🤤
@ as opposed to what,the collective East? what's your point?
@ssuwandi3240 It is not as high as the United states.
It's US$4000 FOR A CONDO AND AUS$4000 FOR A CONDO.
IT IS 38% CHEAPER HERE.
PLUS NO GUNS.
orange Jesus business experience is bankrupting
Didn't they try these kind of tariffs that trump's doing during the great depression and didn't it fail miserably had the reverse effect for the us.
Smoot Hawley yes.
Trump's not big on history or any kind of literacy and common sense.
Goes to my point you call yourself a democracy, but you really have an emperor🇨🇦
FOTUS Trump and Maga are not the brightest bunch.
Canada is ready for him this time!!
would be great if Krugman do a case study on India's tariff economic debacle of the Nehru and Gandhi era.
Its a PERFECT case study on how tariff would work out for US.
The Idiocracy is days away.
Trump looks like he weighs about 400 pounds.
That's still slim compared to half his male voters.
The camera adds 10 pounds.
“Flag it this is something to watch” America is circling the drain and Paul makes a point to note it.
It’s as if he doesn’t realize that tariffs go both ways like lending ur friend 5$ then asking to borrow 5
Canadian here... while no one wants to see a trade war that would harm both our economies, we Canadians must stick up for ourselves. The president-elect's repeated insults are profoundly disrespectful of a country that has consistently had the US's back since WWI, and only serve to strengthen our resolve. Art of the deal or game of economic chicken... it would be naive to think we won't respond in kind to threatened US tariffs; and understand that 36 states rely on Canada as their #1 export market. So this is going to hurt right back. Double the pain actually, with US tariff-induced inflation, plus the loss of US jobs as your top export market implements its own retaliatory tariffs. Party like it's 1929! Also, if you exclude oil, there is no trade deficit... the US is in surplus on goods and services so who's "subsidizing" who exactly? As in any relationship, of course there are disputes, but big picture: we have a level playing field between our two countries and this is a completely unwarranted provocation that will only serve to kneecap both our economies. The saddest thing about it is that we are not only neighbours, but we are (used to be?) each other's' best friend and ally; capable of accomplishing tremendous things when we work together. This chaos is exactly what China and Russia want... far easier and far more productive to simply work with your allies in the first place. Miss our old friend.
The first mistake is thinking "the economy" exists for your benefit. It's not for you, it's for them.
With an administration filled only with amateurs and bootlickers, what could go wrong?
The poor and middle class are the ones who will suffer with this tariff policy against Canada and Mexico. Higher prices and higher unemployment will result.
I cant imagine a sign on the doors of Walmart and Home Depot (90% of the goods are made in China:
Our prices are up 50%!
Walmart earned that. They forced a fair part of the industrial offshoring of the US.
Trump is making Pimping Great Again.
it doesn't make sense what he's doing. Hes going to go flip the table with everything on it, leave a mess and go play golf
Yea well America wanted this for itself
He only sees winners and losers and cannot understand "win-win" outcomes. Must be win-lose with him as winner. Anything else is a loss to him.
Chat gpt: If a 60% tariff were imposed on imports from China and the full cost were passed on to consumers, the impact would be approximately $809.67 per person in the U.S. population
Maybe Mr Trump personally needs the money from the tariffs to be able to pay more hush money?
he wants to use tariff revenue to justify/offset tax cuts for corporations.
@@Joe-ij6of you're both too generous...he's playing futures on commodoties before he enters office, profitting off the market flunctuations he's causing.
Manufacturing left the US due to regulation, enviromnental concerns and labor unions/labor costs. If tariffs raise the price floor of products, the only variable domestic industries can change is the unions/labor costs which in the modern age can be done with automation. Few new jobs are made in returning industries, but the overall rise in the cost of products shrinks the buying power of consumers which results in the overall loss of jobs. Protective tariffs don't generate tax receipts because they are designed to discourage foreign purchases. This doesn't even touch how this will affect the reciprocal purchases of foreigners for our goods and services.
How about this - all those who voted for tariffs : you pay them. Anyone who didn't vote for him, you get to pay the old price.
War always brings pain in both camps.
As I was fed up with propaganda, I just googled 'US economy 2014-2024'.
2 observations:
-As economy is based on growth, any president can always claim "the economy was best under me".
-Economy goes up well under the end of Obama, continues the same way under Trump until it gets completely smacked by covid, starts slowly picking up under Biden, then picks up good speed again.
It's quite unsurprising, and not much to shout about.
Tariffs are a more palatable consumption tax on the middle class to offset Trump's tax cuts.
What do you mean at 1:30 'The losses are about the square of the tariff rate'? The square of 25% is about 6%.
😮👍👍👍👍👍😅😅 That's why Mr. Krugman won the Nobel Prize in Economics!
I don't think that's what he meant but a decline of 6% in the GDP of the United States
would indicate a horrific recession.
inflation period exclamation point
could backfire?? WILL backfire!!
60 percent for China. You know that they have the rest of the world to sell their products to and they could just forget about dealing with the U.S. along with all the treasuries bonds they have to dump on the market.
US has more Chinese treasury bonds than China has US treasury bonds.
@ nope. China holds 859 billion u.s. treasury bonds. The u.s. itself has more debt .But it is debt to itself to its own treasury. 36 trillion dollars. The second biggest holder of u.s. debt is the treasury. The deficit. For each American citizen the debt is 156000.00 dollars. The u.s. doesn’t even produce enough money to cover the interest payments if rates are to rise. Right now the interest payments are higher than the cost of the u.s. military. The world knows this that’s why they have decided to go for alternative money for trade. BRICS. All information is available on search.
@@michaelurban2815 Just like China buys US debt, US also buys China's debt incase it dumps US bond, it can dump Chinese yuan. India which itself is a BRICS member has said it will promote US dollar instead.
@@niweshlekhak9646 - You said, "US has more Chinese treasury bonds than China has US treasury bonds."
Probably now. I just saw an article on how China is dumping US debt.
@ At the same rate US is dumping Chinese Yuan.
no sales no tariff.
To someone with Trump's fragile ego and lack of intellect simply winning isn't good enough.....someone else has to lose😢
All of Trumps businesses have ended in ruins.
Impeachment for destructive behaviors.
Your giving Trump too much credit… don’t forget he’s a pathological liar
Make America pay agian 🇨🇦
Pile-on about tariffs. The world economic system has gone off the edge of the table. Bloomberg has a business network. If you disagree you will suffer.
Trump has done nothing but talk. I believe that they will blame the fall of the western world on Trump and not the 1932 government we have in 2025. We are in serious trouble. I can wait to see what the Federal Reserve implements; I tremble.
What Trump is about to do is exactly what caused the crash in the 1930s. You might remember Smoot-Hawley, Republican insanity. Even Ferris Bueller had to learn it.
The USA is in trillion dollar deficit. Trump imposing tariffs helps them combat their deficit. Tariffs adds up per country. We must always look beyond the threat and why he is doing it.
i don't think its just 'tarrifs' Trump is using this buzzword as leverage. there will probably be other forms of 'tarrifs/taxes'
Could? I do agree with Tariffs on China but not other countries
Your country sold its soul to china because they didn't want to pay people a decent
wage,
I can tell you why, Paul. He wants a steady stream of tariff income as a budgetary offset for his tax cuts for the wealthy. He really is that selfish. That's why he's not being truthful or rational. He's not interested in compromise or negotiation.
``soft landing``- ooo yea , that is certainly true, that is why foreign investors demand higher yield on bonds and yes they get it.
Interest rates are go up, 100% proof of ``soft landing``.
Does Trump have any new idea besides tariffs and grabbing Greenland?
President Musk told him about the resources in Greenland, and, like any good little employee, Trump is looking to make it happen.
Shut er down we Canadians are used to living within our means bye bye America
Because he’s nuts.
Paul "we already have fax machines" Krugman
So much for “free trade “
Why did you guys vote this fool in?
But....but Trump's a genius!!!!
That’s “ stable genius “
At this Rate we should just join the EU…
Smoot Hawley. anyone?? anyone??
Sounds like v bad news 😢
Brexit times 1000...
unless if there's no homeless in all major cities and everyone is making a decent living, and that the country is not all time high with its debts, no one can claim that US is "doing pretty good". with all it's strength and mighty, it can't even manage to contain a fire while the city is next to an ocean.
There is homeless people everywhere not just USA. If so simple to control the fires with sea water, please share your knowledge with the USA.
@ given today’s available technologies, you should be able to discover which countries with no homeless people instead of being naively ignorant on this topic. America cannot be all that great if there are bots like you that thinks having $36 trillion in debt and making un provoke threats to its trading partners is OK.
Your answer is a non answer, USA is not the only country with a homeless population, in fact the people’s Republic of China has a unemployment problem with many homeless people. You should also know that California is not flat so you implying that being close to an ocean should be the answer to fire fighting is ridiculous You deflect a lot but give no answer. Also I never promoted nor said I agreed with tariffs. Your comments were insulting and inaccurate
@@drewigloo it was you who stated "homeless people" is "everywhere", and my response was there are many places/countries with no homelessness issue. it is a fact and can't be just dismissed like you did. and your attempt to start discussing China have homeless issue is just a random rant with no context or preface to this topic! you sounds like you ran out of steam from your non-sense! and you ridicously mentioned that California is not flat so the use of ocean water is pointless - it is mind boggling that you didn't know a number of out-of-state rescue planes are being used that actually scoopes ocean water to fight the fires. go back to my original statement, I pointed out that with a number of dire situations with the US, such as homelessness, cost of living, high national debts and inability to contain fires for a city that's right next to an ocean (
He’s insane
Il fait vraiment vieux ce type Trump! Regardez le teint, le regard, la parole de Biden à côté de ce vieux «je m’abstiens ici…» que vous avez élu.
Trump wants Canada to do its job and take boarders control seriously. That’s it! Just do it!
Tell Donald if he stops harassing Canada we will give him Quebec.
How about Alberta ?
Living in Montreal, no thanks !!!
Please give him Brampton , Ont
I'm from Montreal and I wouldn't wish being annexed to the US to any of my fellow Canadian. Not even Toronto. 😜
French quebecois are salivating at the prospect
Could … our problem is democrats need to be held accountable.
Tariffs have MANY uses.
First the U.S. has to want something from another nation.
Lets say we want Canada to secure its border, or else we will impose tariffs.
Canada exports 76% of ALL their goods to the U.S.
This means the U.S. can impose tariffs on 76% of all Canada's exports.
ouch.
Now Canada can impose tariffs on U.S. goods.
The U.S. exports 15% of all our goods to Canada so Canada can ONLY put a tariff on 15% of our exports.
Who will this hurt THE MOST?
At this point Canada gets wise and secures their border.
Any questions?
It is not Canada or Mexico responsibility to secure the US border. What or whom goes into the US is the US responsibility. The felon had 4 years to secure the borders, he failed. Petty felon can never admit he failed so he points his fingers at others to blame.
It's the type of goods being taxed 25% that Americans will have to pay on oil and energy that will hurt most. Traditionally, Americans like low costs at the fuel pump and don't want increases in electricity prices. Canada will target surgically Red states products to maximize punishment on Red states exports and buy more from states like California, etc. So Canadians can avoid this tax. In the end, tariffs between the U.S. and Canada just benefits China.
Canada is talking about using energy embargo, ah 2 of the most lovely words
Correct. The goal is to externally discipline CAD on the path towards the US Golden Era. You can't be strong enough amongst the weak neighbors
There will never be a 100% secure border. Not with Canada, or with Mexico. Both are way too long.
Paul Krugman is delusional with academic success; ive studied his works and moved onto other more interesting topics like productivity analysis. We have obvious excess labor capacity in America and people who replace their iphone every year... lets be real... theres more to a real goods economy than higher prices
TH-cam commenter vs Nobel Laureate. Yup, I know whose opinion I'm going to consider.
If your theory is better than his, we all would have known you well and you may have won yourself a nobel price too.
Will you have excess labour after trump deports workers.
Trump economics: we bring back jobs from China and deport millions of people... And everyone will be very wealthy, and no inflation because he will make prices go down.... Yeah, that makes total sense. 😂😂😂
OK, Einstein!
Slava Ukraine 🇺🇦!!
Why? Because he doesn't have a clue.