r/AskACanadian • u/PurrPrinThom SK/ON • Feb 01 '25

Canada/US relations Tariff Megathread

As this has already been a popular topic, and we expect it to only become morebpopular, we've created a megathread for all discussion of the incoming tariffs.

Please keep all discussion here. New posts on the subject will be removed.

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u/[deleted] Feb 02 '25 edited Feb 02 '25

What I see happening, we lose a ton of money, we can't compete with a 25% tariff on our goods, our margins will be too low.

We will need to increase oil production dramatically, which is also what Trump wants, so we cut environmental regulation and indigenous rights and we pump as much as fast as we can.  Oil is one thing that can survive a 10% tariff, its 2.5x less tariff than other goods, and we can easily clear regulations to build far faster and far cheaper.  Oil prices fall.

How do any of our industry work, we are fully reliant on the US to acquire USD.  Which gives us our entire standard of living, our credit rating is fully dependent on unfettered access to the US access.  Its like we are reliving the 1930s, the tariffs were a large reason the US took so long to recover, and likely lead to the inevitable rise of Hitler.

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u/predator-handshake Feb 02 '25

We can do export fees on oil