Trade Wars
Well, the trade wars have begun. Even on Zero Hedge they write about it. It's about Canada retaliating for the tariffs, that the Trump administration has imposed. Now my ideology is economics. What we can see, is the same stupid mistakes being repeated over and over and over again. In economics it has already proven that this is a bad idea. Basically, when you impose tariffs the country that you're imposing tariffs on, is going to try and get back at you, and it's a case of an eye for an eye - making the whole world blind. We all get poorer. And it hurts all of us.
more about US-CAN tariffs, read on https://www.zerohedge.com/news/2018-05-31/canada-unleashes-dollar-dollar-retaliatory-tariffs-us
So the Prime Minister Trudeau of Canada exclaimed his indignance at the Trump's administration's decision to impose tariffs on Canadian steel and aluminum imports. And he says it's totally unacceptable and he said that Canada is a secure supplier of metals to the US military. This is the interesting part - the US has a two billion dollar trade surplus with Canada so US actually sell them more steel, they sell to US. Yet.... Trump is imposing tariffs on Canadian steel that's coming into the country just to try and protect American jobs :)
Canada's full list of actions includes 25% tariff on the following... (taken from zerohedge report)
And 10% tariff on the following items...(taken from zerohedge report)
What you can prove in economics is that what happens is.... both sides end up getting poorer.
BUT...
From an economic point, good economics doesn't always equate to a good living standard. Wales was one of the biggest exporters of coal the world has seen.
It's now one of the poorest countries in Europe due to the UK buying imported coal and switching to gas powered power stations. Huge job cuts in the 80's has left vast areas of the country devastated with mining jobs replaced with low paid call centre and super market jobs. There's no point importing cheap materials if there's not enough well paid jobs to buy the end product.
Also, everyone who works in the building supply industry, knows how everyone is amazed at the cost. Framing lumber, plywood and cedar are reaching new all time highs...
STOPCongratulations! This post has been upvoted from the communal account, @minnowsupport, by WorldFinances from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.