The 2024 presidential election

[Mayhem]

Originally Posted by Andrew NDB

I'm not sure folks are understanding the basic principle of tariffs. As in. Leverage.

There is no leverage. If the cheapest source of something is still Mexico or Canada even with the tariff increases, all that happens is that the prices go up and Americans end up paying more. And nothing is resolved.

Canada is the largest supplier of crude oil to the U.S. with more than 3.8 million barrels per day, or 60 percent of U.S. crude oil imports, coming from its northern neighbour. Although the U.S. produces large quantities of crude oil every day, it makes more economic sense to import it. Crude oil produced in the U.S. is considered “light” compared to the “heavy” oil produced in Canada and the Middle East. This means the U.S. relies on imports for “heavy” oil. Importing from Canada, which is close by and doesn’t require as much transportation as other countries such as those in the Middle East, makes it more accessible.

Mexico is the largest exporter of vehicles, vehicle parts and vehicle accessories to the U.S. than any other country making up 27 percent of all imports from Mexico. Importing auto parts abroad and then assembling them in the U.S. is a cheaper alternative than manufacturing and assembling domestically. Tariffs would increase the cost of most cars, though it's not clear how much.

Add to this that Mexico’s largest exports to the U.S. are sugar and sweeteners. The U.S. spends more than $700 million importing sugar directly from Mexico. More than 445,000 metric tons of sugar were imported to U.S. ports from Mexico between October 2023 and September 2024.

The U.S. spends more than $20 billion annually importing horticultural agricultural products from Canada and Mexico. Tomatoes, avocados, peppers, strawberries, lemons, limes, broccoli, cauliflower and so much more produce is imported into the U.S. from Mexico. Canada supplies the U.S. with mushrooms, potatoes and more.

And haven't even gotten onto raw materials such as wood, plastics and metals.

[Coola Yagami]

Originally Posted by Mayhem

There is no leverage. If the cheapest source of something is still Mexico or Canada even with the tariff increases, all that happens is that the prices go up and Americans end up paying more. And nothing is resolved.

Canada is the largest supplier of crude oil to the U.S. with more than 3.8 million barrels per day, or 60 percent of U.S. crude oil imports, coming from its northern neighbour. Although the U.S. produces large quantities of crude oil every day, it makes more economic sense to import it. Crude oil produced in the U.S. is considered “light” compared to the “heavy” oil produced in Canada and the Middle East. This means the U.S. relies on imports for “heavy” oil. Importing from Canada, which is close by and doesn’t require as much transportation as other countries such as those in the Middle East, makes it more accessible.

Mexico is the largest exporter of vehicles, vehicle parts and vehicle accessories to the U.S. than any other country making up 27 percent of all imports from Mexico. Importing auto parts abroad and then assembling them in the U.S. is a cheaper alternative than manufacturing and assembling domestically. Tariffs would increase the cost of most cars, though it's not clear how much.

Add to this that Mexico’s largest exports to the U.S. are sugar and sweeteners. The U.S. spends more than $700 million importing sugar directly from Mexico. More than 445,000 metric tons of sugar were imported to U.S. ports from Mexico between October 2023 and September 2024.

The U.S. spends more than $20 billion annually importing horticultural agricultural products from Canada and Mexico. Tomatoes, avocados, peppers, strawberries, lemons, limes, broccoli, cauliflower and so much more produce is imported into the U.S. from Mexico. Canada supplies the U.S. with mushrooms, potatoes and more.

And haven't even gotten onto raw materials such as wood, plastics and metals.

Sounds like we're headed for another depression. But at least schools will be less woke now. Or something.

[FredWolfLeonardo]

Let's keep this thread going until the 2028 election then rename it.

And so on, so forth.

[lonewarrior20]

Mr. Musk wants to get rid of the Consumer Protection Agency too.

[CyberCubed]

People will have to buy less of everything if these tariffs go into effect.

[IndigoErth]

The future... stuff from China is more expensive, and the amount of lead, etc in it much more overlooked.

[member_removed]

Originally Posted by IndigoErth

The future... stuff from China is more expensive, and the amount of lead, etc in it much more overlooked.

YEs, but eggs will be cheaper.

[IndigoErth]

Lead eggs, via lead chicken feed.

[Mayhem]

Originally Posted by member_removed

YEs, but eggs will be cheaper.

I saw someone on Twitter post that their daughter will be tracking the local price of eggs daily once Trump is in office to alert people if the prices (as expected) actually creep upwards...

[Coola Yagami]

Originally Posted by Mayhem

I saw someone on Twitter post that their daughter will be tracking the local price of eggs daily once Trump is in office to alert people if the prices (as expected) actually creep upwards...

To be fair, that would have happened with Kamala in office. Tarrifs or not, prices just go up. And they stay up. I never seen cases where prices went up 'for the time being" then went back down after the cause ended. My grocery bills have only gone up.

[sdp]

if only there were a member in the technodrome who were an economist that understood macroeconomics & micro finances..