Escalation of tariffs on steel, aluminium etc of 50% on Canada.

I wouldn’t call it free fall, but it’s certainly dived.

Grandmabatty

That is what I meant Grannygravy. His increase to 50% in a fit of pique has been quietly dropped

The increase to 50% wasn't in a fit of pique. It was due to Ontario's threat with regard to electricity

Ontario Premier Doug Ford says he's willing to cut off power supply to the US if President Donald Trump continues with tariffs against Canada.

Ford announced his retaliatory plans shortly after Trump implemented a 25% tariff against Canadian imported goods and a 10% tariff on Canadian energy

It was just a retaliation. Which we are getting used to. Trump plays by a totally different rule book.

This threat led to Ford doing a U Turn

Rula, I completely disagree with you. Trump can't cope with dissent and throws his toys out of the pram. The unhinged rants on social media prove that. Canada have held firm against his diatribes about tariffs and jibes about becoming the 51st state and he had a tantrum

Grandmabatty

Apparently the increase in tariffs on Canadian Steel etc won't be happening, however he's imposed a 25% tariff on British steel as from now. I presume he's very unhappy with King Charles meeting Zelensky before him.

Do we actually export steel to the States?

Barleyfields

I wouldn’t call it free fall, but it’s certainly dived.

Yes. About 10% in 3 weeks.

Yes, about 200,000 tonnes pa. We produce a special type of steel used for military purposes.
I totally agree Grandmabatty. Trump has infantile fits of pique and seems incapable of taking a rational approach to anything.

fancythat

Barleyfields

I wouldn’t call it free fall, but it’s certainly dived.

Yes. About 10% in 3 weeks.

Which is definitely a plunge, the pundits are saying now that a recession is increasingly likely.

Not exactly MAGA is it?

No - I don’t understand how the Trump supporters are keeping the faith now, but they seem to be doing so.

They are totally deluded.

I think its going to be when it finally hits them really personally - prices in the shops, inability to get health care, including womens health, schools deteriorate further, Veterans unable to get benefits, the massive drugs problem untackled - if there is a recession, job losses etc.

He is trying to stifle dissent and protests. Yesterday he labeled Tesla protestors domestic terrorists and said they would be arrested.

We are down over $100,000 in our retirement accounts. We have lost 4 years of gains.

Canada already cancelled contracts and is boycotting US products and it is working.

I can't take anyone who supports what Trump is doing, or makes excuses for his lunacy, seriously any longer.

Elegran

Grandmabatty

Apparently the increase in tariffs on Canadian Steel etc won't be happening, however he's imposed a 25% tariff on British steel as from now. I presume he's very unhappy with King Charles meeting Zelensky before him.

Do we actually export steel to the States?

It's about £400 - £500 million a year in exports, about a quarter of our total steel industry.

I'm very glad we haven't responded petulantly like the EU and Canada have. Starmer has (again) gone up in my estimation on this.

Rightly or wrongly, the mood in the US is that other countries are ripping them off. We need to send a message to the American people that the British are different

No. The mood in the US isn't that we are being ripped off. That is Trump and Tump alone that thinks that. And HE is the one who negotiated these tariffs during his first term. So if they are a "bad deal" then he and he alone is responsible.

Even MAGA voters are starting to get upset at the tariffs. They are losing farms, jobs and Healthcare right now.

FriedGreenTomatoes2

I'm very glad we haven't responded petulantly like the EU and Canada have. Starmer has (again) gone up in my estimation on this.

Rightly or wrongly, the mood in the US is that other countries are ripping them off. We need to send a message to the American people that the British are different

Cannot disagree with you more.

To describe Canada, who Trump has threatened with becoming the 51st state, through economic robbery, as acting "petulantly" in putting tariffs on themselves is beyond belief.

Cheers to the EU for doing what they feel necessary.

Why should other countries let Trump, Vance and Musk just walk all over them? What's wrong with standing up to bullies?

The idea we should ko-tow to them just because Trump has convinced MAGA they are being "ripped off"?

In what way objectively has the US been "ripped off" as opposed to mere perception and lies?

imaround

No. The mood in the US isn't that we are being ripped off. That is Trump and Tump alone that thinks that. And HE is the one who negotiated these tariffs during his first term. So if they are a "bad deal" then he and he alone is responsible.

Even MAGA voters are starting to get upset at the tariffs. They are losing farms, jobs and Healthcare right now.

Thank you for actual information from the USA as opposed to imagined information from the USA.

"Tariffs break trust’: How Trump’s trade policy is putting pressure on U.S. farmers"

www.cnbc.com/2025/03/11/how-trumps-trade-policy-is-putting-pressure-on-us-farmers.html

and

"China's retaliatory tariffs went into effect Monday, spelling trouble for American farmers by making U.S.-grown crops more expensive for their top purchaser."

www.cbsnews.com/news/china-tariffs-us-farmers/

and several more

The tariffs are unfortunate, but nobody with a fair mind and with a straight face can honestly plead that they were not, in most cases, asked for.

The EU imposes tariffs on virtually everyone including America, Canada was at it with America. The UK will not except perfectly safe food and let consumers choose whether or not they want to buy it - chlorinated chicken for example. Himself must have eaten loads of the stuff because of his work time in America and what about anyone in Florida having a holiday?

And here we go … the markets are ⬆️ again!
Over the coming weeks and months things will simmer down once neogtiations bear fruit - as they will.

I don’t know what it is you read FGT2, but I just checked and the Dow Jones is down 0.99% today. Here is an analysis of the damage being done by the erratic Tariffs Trump isimposing.
edition.cnn.com/2025/03/12/economy/recession-tariff-trump/index.html
I think the analysts in America probably have a better grip on the implications?

Less than 1% down?

Anything French farmers produce, pretty much, has a tariff on it when imported from outside the EU.

This was a major reason for it coming into being.

Tariffs are there to protect Germany industry and French farming - and those are the goods sold in the single market.
But why do the EU think that tariffs should only work one way?

FriedGreenTomatoes2

Less than 1% down?

You said it was up to- it is a further 1% down today compared with close yesterday.

Up today, missed out half the word.

Excellent article, Casdon.