加拿大对美实施200亿美元报复性关税

With the cost of the trade war set to impact numerous border businesses, we're joined now by Bloomberg auto bureau chief Brian Platt. Brian, walk us through where exactly we should expect these tariffs to have an impact in The United States and what's coming. It's a real grab bag of products. It's the the goal here is essentially to match the same value of the imports or of the tariffs that that Donald Trump put on Canadian import sorry, exports to The US.

It's about 20,000,000,000 worth. It's a real mix of stuff. The Canadian tariffs, the new ones that are set to come in on Tuesday will hit, like, copper wire and pulp and paper and and a whole bunch of steel and aluminum products as well. Basically, it's not, you know, expected to have a wide ranging effect on the economy on either side of the border, frankly, both these these new rounds of retaliatory tariffs. It's more if you're of course, if you have a business in that sector, you'll feel it and you won't like it.

But the broader economy should be fine. The bigger risk here is the cycle of retaliation that we're in, this the escalation that's happening right now. And at the moment, there does not appear to be any off ramps. Yeah. Treasury secretary Bessent was on Fox, last night, asked about that exact thing, the impact on the economy. We've got some sound for you. The opportunity for a great trade deal, and they didn't want it.

And it looks like it's for political reasons. But the The US, it is the not much of a hit to us if any, if if any, because, you know, we're hearing all these stories inflation that it is negligible. I would like someone to show me the statistical significance of these the Canadian tariffs on US prices? I mean, I would assume that's something the treasury department might supply for us. But, in lieu of that, I mean, in the macro, it seems like the argument from both sides is is both economies can weather this spat.

But in the micro, I mean, we're already hearing from small businesses on both sides of the border that this is really gonna hurt them. Are there any particular industries in Canada that you think are gonna be the hardest hit? We were talking a few weeks ago to whiskey producers here in The US who say, you know, they haven't been able to get their product on shelves. Even if they do, Canadians might boycott it, and it's really, really impacted that industry here.

What are you seeing on the Canadian side? I mean, the risk on the Canadian side all along has been more sort of that business erodes from, you know, some especially from those original they're called section two three two tariffs that Trump put in on steel, aluminum, and autos, and lumber, that those businesses, which are really important industries in Canada, get hollowed out. And anybody looking to site a new factory or to expand a factory or whatever would do that in The US instead of Canada because of these tariffs.

So the the worry has always been a bit of a effect over time rather than sort of an immediate one. I will say, like, there's a couple of exam for the most part, of course, Scott Bessent is right that these are not gonna have a a big immediate impact on on prices in The US. There's a few exceptions. So, like, look at the price of aluminum in The US from the tariff the 50% tariff that Trump put in last year. Americans right now pay far more for aluminum than anywhere else in the world.

The price has gone up a lot over the past year. That's an example of an industrial input, right, that maybe doesn't have an immediate effect on prices. But over time, it's absolutely driving up the price of of goods in The US. And globally, Bloomberg had a story a couple weeks ago about how they're having Coca Cola parties in India because the cans are so expensive now. Having a Coke is like a is like a cachet, so they're having parties where people bring Coca Colas and drink it.

Wow. The Canadians have been really strategic in their counter tariffs. Michigan is, of course, a really important swing state in The United States, and it's gonna suffer particularly. Can you walk us through that a little bit? How how is it impacting wash excuse me, Michigan, and and how you know, talk to us about the strategy behind that. Well, I mean, there's absolutely a if you're in the border states, a lot of Canadians vacation to The US normally.

Right? There's a lot of cross border traffic that happens, and there's also just a lot of intertwined economic activity. I mean, the big one in Michigan, of course, is the auto sector. The Canadian and The US auto industries are very integrated. Car parts In the in the process of building a car, those parts cross the border. There's a famous stat that the average car crosses the border, like, seven or eight times before it's produced, and that's just a reference to how many parts go back and forth.

And so when you when you tariff Canadian auto production, you're also tariffing essentially Michigan auto production just because of how conjoined the two, supply chains are. But there's also I mean, if you run any kind of business in The US that that relies on tourism, that tourism, I think it's somewhat down all over the world, but it's down significantly from Canada. Right? And so, anybody on along those border states or some of the other places where Canadians visit, you feel the the pinch of that.

The alcohol the fact that Canadian most Canadian provinces are not stocking US alcohol, I mean, that's, again, that's a big market for for alcohol producers in The US for for bourbon and wine, the California wine regions. Like It so, again, it may not be impacting the whole economy. Of course, it isn't. The US economy is just way too big for that. But there are areas where it's feeling hurt. And I think in general, if you from the least from what I've seen, the public opinion evidence in a state like Michigan, they're not looking for a trade fight with Canada.

They're they're not they don't see Canadians as their as their enemy or as as hurting them nearly as badly as the president claims that that Canada is hurting The US. So I I think that this trade fight from what I've seen is really not a popular trade fight in those areas. So what do you expect Kearny to do? I mean, I'm looking at I I brought this up because I was trying to remind myself. I googled, Canada EU trade negotiations, and I got four completely different takes as the first hits.

No. Canada is not joining the EU, but it might be pioneering a new care of partnership. What if Canada joined the EU? Canada invited to trade talks and don't count on Europe to save Canada. Is that a viable option? Is that something you think the Kearny government will pursue in lieu of functional, sustainable, reliable trade ties with The US looking more towards Europe to bolster, that intake instead? Well, I will say, first, just to frame this for Kearny, the Canadian public is absolutely behind him on this.

We have, fresh polling evidence ourselves that I think will be published soon. There's been there's been other polls that have been published. The Canadian public does not want Mark Cearney to back down to Donald Trump or to be seen backing down to him. They think that Trump is offering a bad deal, they don't want Carney to sign it. He there he at least from the broader Canadian public, he's under no pressure right now to to sign a deal.

So that's part of the dynamic here. And what he is trying to do, as you alluded to, is diversify Canada's trade all over the world. So that includes Europe. I would say there's a big emphasis on Asia as well, especially when it comes to trying to export more Canadian oil and gas to to Asia. But this stuff is difficult. Right? There's geography that's in the way. There's a reason why about three quarters of Canada's exports generally go to The US.

That number is dropping right now because of the trade war, but, you know, geography still rules here. Right? Canada all has only one border state, and