25 percent tariffs are just days away for Canada and Mexico, which are both major trade partners of the United States.
Iowa Senator Chuck Grassley says while there could be retaliatory tariffs, this is what the people decided.
“The country has turned protectionist and mercantilist, and I don’t think that’s good. But we did have an election decided that the country likes what Trump’s trying to do.”
Canadian leaders have also been vocal about the tariff threats, saying the energy markets could be in for a shock if they go through.
“Our entire trade surplus is due to oil and gas. We export at enormous discounts to market price. Depending on the time, we sell a barrel of oil to the Americans for 10 to 30 or 40 percent cheaper than the world price. If President Trump wants to make America richer, the last thing he should want to do is block the under-priced Canadian energy from going into his marketplace,” said Pierre Poilievre, the current Canadian Conservative Party Leader.
Poilievre is widely believed to be Canada’s next Prime Minister. President Trump has given a Saturday start date for the 25 percent tariffs if Canada and Mexico do not cooperate with his immigration plan.
Shaun Haney joined RFD News to discuss the potential impact of the Trump-Xi summit uncertainty, ongoing agricultural trade talks, and why geopolitical developments could carry important implications for farmers and global commodity markets.
