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- Hacker News
- Everything the current US administration has done has been an unmitigated disaster. Tariffs are taxes. Manufacturing is still declining, not returning and a man who could not run casinos successfully is not going to change that. His economic and foreign policy are dictated entirely based on who flatters him the most. Add to that continued environmental damage, domestic policy dictated by a regressive religious minority and a lack of interest in performing the duties of the position in favor of caring about only what it can be leveraged for. A failing state operating on grievances and stupidity.by cdrnsf
- "regressive religious minority" yes, Israelis and the evangelicals that worship them.by techteach00
- That’s the point. He wants to crash the monetary market and he has allllll the investments in digital currencies, ai, data centers, energy, computation & weapons. Why prop up a system that literally tried to kill him and will wreck havoc on his family after he’s outta office stripped of power. Dude is operating on death ground right now.by goodness4all
- Today in manufacturing: I saw one time use mouthwashes at target (ugh). Made in china. We can’t make overpriced pouches or mouthwash here
- Hope the voters remember this for the next couple election cycles.by goatlover
- > Manufacturing is still declining
Do you have evidence for this?
by fooker - >His economic and foreign policy are dictated entirely based on who flatters him the most
Are you sure, it seems mostly based on illegal share trading. Murdering foreigners and sending soldiers to die is a lever Trump/his handlers keep pulling because they 'win' $millions every time.
by pbhjpbhj - Tariffs end up being worse than taxes. They get collected, passed on to consumers, overturned by courts, and then handed to the companies that raided prices.by fluidcruft
- I get that statistics can be manipulated but...
https://www.ismworld.org/supply-management-news-and-reports/...
> Economic activity in the manufacturing sector expanded in July for the seventh consecutive month, say the nation’s supply executives in the latest ISM® Manufacturing PMI® Report.
> The report was issued today by Susan Spence, MBA, Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee.
> “The Manufacturing PMI® registered 55.6 percent in July, 2.3 percentage points above the June figure and the highest reading since May 2022 (55.9 percent). The overall economy continued in expansion for the 21st month in a row.
by brightball - If Alice and Bob strike a deal then Alice must be confident that an acceptable subset of her interests are met and that Bob will stick to the deal.
If Bob shows evidence of not sticking to deals, there's little point in Alice striking any deal.
by kjellsbells - This was totally the right move, if for no other reason than it's the only thing that this US admin will respect in the long run.
Being in Canada though this does look v. short sighted of the US. All this is going to achieve is pushing Canada much closer to other countries, particularly China, which at least superficially these negotiations were meant to prevent.
by fidotron - As I’ve said from the beginning, just ask yourself: what would Putin want?
Every baffling, self destructive move Trump makes, basically always aligns to a long stated goal of Russia.
by tw04 - > it's the only thing that this US admin will respect in the long run
They don't respect anything. They stand for nothing. Their only concern is to pay lip service to Trump's crazy ideas.
by spiderfarmer - > that this US admin will respect in the long run.
Thankfully this US admin has ensured it won't have a long run.
by chrisjj - The problem is they're also stifling trade with China. We still have quotas on Chinese cars so that they don't flood the market with affordable cars to preserve our (yours and ours) inferior car industry.
It's basically what Canada is doing to the US with dairy, except with Chinese cars.
by pluc - > This was totally the right move, if for no other reason than it's the only thing that this US admin will respect in the long run.
Unfortunately, Canada (where I live) will feel way more pain from this than the US. I am not sure Trump will have respect for this at all, but the alternative was to put in a permanent trade deal that significant disadvantaged Canada.
by bhouston - The US admin is basically Trump. Saying Trump will respect Canadian strength shows you are making the same mistake other people keep making in thinking Trump is somehow like them or is consistent enough to predict. I don't think Trump is a rational actor. He is a collection of ephemeral positions lacking coherence accumulated from random sources.by 01100011
- > All this is going to achieve is pushing Canada much closer to other countries
The world is watching this story just like the world watched Davos.
Last night will encourage further decoupling of the US for nations other than Canada.
idk if Trump 2028 will happen or not. I will say with conviction no matter who is in office by then will not rebuild trust around the world in their tenure. Too much damage is done to the US's reputation.
- Trump and MAGA have destroyed the good relationships and trust that the US had built throughout the world. Canada's Prime Minister wrote [1]:
"We have recognised from the beginning that America has changed, and that we will not return to our old relationship. Our government understood, before many, that America is altering all its trade relationships. Putting tariffs on its closest allies and charging for access to its vast market."
[1] _ https://www.pm.gc.ca/en/news/statements/2026/08/21/statement...
- Nice to see them putting up a fight. Though I assume this will cause pain for everyone.
One note: aren't these sentences strange - like a series of half-thoughts? Especially the 2nd paragraph.
> Our government understood, before many, that America is altering all its trade relationships. Putting tariffs on its closest allies and charging for access to its vast market. > > We have worked in that context. To strike a fair deal that would provide the best access to the U.S. market and greater certainty to Canadian businesses and workers.
by nchmy - The party line for why the US tariffs are bad is that the US tariffs are bad for US customers and won’t hurt the US exporting countries.
Why won’t the same logic apply to Canadian tariffs?
- No, it’s just written as speech.by epgui
- > Though I assume this will cause pain for everyone.
Yes, but the pain is likely unavoidable. The alternative is much more pain, but slightly later/more spread out, from repeatedly giving in.
- It's a transcription of a spoken speech. The periods between connected clauses are just where Mark Carney paused for a moment.
- We are leaving the time when trust allowed trade agreements that went beyond the maximum minimum with the US. Trust allowed countries to make agreements with the US that had obvious potentials for exploitation, but overall they were followed to the greater benefit of both. Trust enabled that. Now the US has decided to break trust and countries know it. That lost premium means a major loss in value to both sides but ultimately the US will be the biggest looser because the other algorithm here is tit for tat. In a world economy, countries that cooperate will thrive and those that exploit will fail. We are seeing completely uneducated, emotion driven, economic policy play out.by jmward01
- I’m interested to see if this spurs other countries to push back on this administration. Once you get a couple of countries to collectively stand firm is when things take a turn. Bullies can only push for so longby Aboutplants
- It won't. This isn't the first time Canada has had to stand alone against Trump while the rest of the world goes along to get along.by Pxtl
- Pushing back against a US that is at this point economically and militarily dominant does nothing. It might push for cooperations outside the US-sphere.by seydor
- Countries have their own self interest in mind
Take the USMCA - Canada and the US at times team up against Mexico and then the pendulum swings, line item by line item - no one has anyone’s back and they all have short memories
A deal with the US when others turns away from them is still a good deal
by foogazi - What Canada is doing is turning to trade with other countries. It is the main solution we have to this issue. It is a long game, but necessary.
Ganging up on the US isn't likely to work well.
by bhouston