Trump’s Tariff Wars - What Happens Next?
Patrick Boyle On Finance
Patrick Boyle
4.9 • 308 Ratings
🗓️ 10 February 2025
⏱️ 29 minutes
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Summary
Last weekend Donald Trump announced 25 per cent tariffs on most imports from Canada and Mexico, and an additional 10 per cent levy on imports from China. Canadian oil was hit at a lower rate of 10 per cent. The duties will take effect from Tuesday. Just days later these tariffs were suspended.Trump said the actions were in response to the “major threat” posed by the flow of migrants and drugs into the US across its borders with Canada and Mexico.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel:Patreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.org
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| 0:53.4 | Last weekend, Donald Trump fired the first shots in what could become a devastating |
| 0:58.5 | global trade war with the announcement of tariffs against Canada, Mexico and China. |
| 1:04.5 | While the Canada and Mexico tariffs were quickly suspended, it would be a mistake to assume |
| 1:10.1 | that this is the last these countries |
| 1:12.3 | have seen of his tariff hikes. The tariffs were implemented under the International Emergency |
| 1:18.3 | Economic Powers Act, a US federal law which allows the president to regulate international |
| 1:24.7 | commerce after declaring a national emergency, which can be done in response |
| 1:30.4 | to any unusual and extraordinary threat to the United States. Had these tariffs been implemented, |
| 1:37.6 | they would have covered about 40% of American imports really driving up prices for the American |
| 1:43.9 | consumer. To delay the 25% tariffs, |
| 1:47.9 | both Canada and Mexico agreed to deploy additional troops to their borders to combat the flow |
| 1:54.5 | of fentanyl into the United States. This was the stated motive for Trump's tariffs. China retaliated with additional tariffs |
| 2:04.0 | on liquefied natural gas, coal, farm machinery and other US manufactured products, which |
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