What are tariffs?
And how do the 25% tarrifs affect the countries involved?
Tarrif is a tax by the government on importers that result in higher prices by exporters, job losses in exporters or higher prices on importers goods.
The USA 🇺🇸 stands to gain the most with this new trade deal and Canada 🇨🇦 will be hit the hardest economically. Difficult to see a way out for them as they don’t have a great deal of leverage over the United States.
Whereas China 🇨🇳 does. Which is why they have only been hit with a 10% tariff.
It seems like @potus is moving to force Canada’s hand to either join the USA 🇺🇸 or have parts of Canada like Alberta to become a 51st state, or get hammered economically for many years to come.
Let’s see how it pans out. Hopefully a deal can be made.