So Trump wants to slap Canada with 25% across the board tariffs? – Richard Mills

2024.12.04

How’s that work for Americans?

Uranium

The largest sources of uranium, delivered to the US in 2023, were Canada with 27% of total deliveries and Australia and Kazakhstan with 22% of total deliveries each. The US can no longer get it’s U from Russia;

“Public Law No: 118-62 (05/13/2024) This bill limits the importation of uranium from Russia. Specifically, it bans unirradiated low-enriched uranium (i.e., uranium that has not been in a reactor) that is produced in Russia or by a Russian entity from being imported into the United States.”

And this most recently from Reuters; Russia has imposed restrictions on the export of enriched uranium to the United States, the government said on Friday, creating supply risks for U.S. nuclear power plants which last year imported a quarter of their enriched uranium from the country.

https://www.energy.gov/ne/articles/russian-uranium-ban-will-speed-development-us-nuclear-fuel-supply-chain

Oil

Canada exports 4.4 mbd of heavy sour crude into the US. The US uses this low grade oil sands crude in a few east coast refineries that are able to handle it. The import of this crude enables the US to sell 2.2 mbd overseas and claim itself to be energy independent.

It’s also a lucrative trade, buy Canadian oil with US $’s and sell a higher sweeter grade overseas for US$’s while maintaining the falseness of US energy independence.

Natural Gas

https://www.canadianenergycentre.ca/the-economic-impact-in-the-united-states-from-canadian-natural-gas-exports

Coal

Coal is not a factor.

https://thecoalhub.com/canadian-coal-exports.html

Electricity

Canada exported 27.6 terawatt-hours (TWh) of electricity to the United States in 2023, which was a 46% decrease from 2022. This was mainly due to the abnormally dry weather in 2023. 

Here are some other details about electricity trade between Canada and the United States:

• Trade value
  In 2023, the value of Canada’s exported electricity was just under $4.3 billion, while the value of imports was $1.9 billion. 
  
• Exporting provinces
  The majority of electricity trade occurs from the provinces of Quebec, Ontario, Manitoba, and B.C. 
  
• Transmission lines
  There are 1,522 km of operating international transmission lines connecting Canada to the U.S. 
  
• Importation by the U.S.
  The U.S. imports approximately 90 percent of its annual electricity from Canada. In 2022, the U.S. imported approximately 52 terawatt-hours of electricity from Canada.
  
• Interconnection
  The electricity systems of both countries are fully interconnected markets. 
  
• Energy trade
  Canada is the largest supplier of energy to the U.S.
  

How expensive will the tariffs be in general for Americas citizens?

The following stats show that Canada/US trade is almost on par. Both countries stand to lose big time EXCEPT Canada has other countries to trade with, the US will not if the threats, bullying and tariffs are put in place. They have literally pissed off everybody and Trump’s bluff, if it is or not should be called.

“The United States and Canada are each other’s largest trade partners, with the total value of trade between the two countries in 2023 reaching $774 billion. In 2022, the U.S. imported $481.2 billion worth of goods and services from Canada, while exporting $427.7 billion to Canada.”

Mexico should also call Trump and simply say tit for tat. Between the damage Mexico and Canada teaming up on Trump could do to the American consumer, and how good trade with each other could work it seems Mexico and Canada should be working together.

“U.S. goods and services trade with Mexico totaled an estimated $855.1 billion in 2022. Exports were $362.0 billion; imports were $493.1 billion. The U.S. goods and services trade deficit with Mexico was $131.1 billion in 2022.”

Add another USD321B in tariffs (60%) on goods from China, remember this is ’22 figures, they are higher now, for a total tax on Americans of USD564Billion. “In 2022, the United States imported $536.3 billion in goods from China,”

25% tariffs on USD$974 billion worth of trade into the US. $243B worth of tariffs Americans will pay extra for.

How long before we all say enough is enough to America’s bullying and start trading more with others?

Well for many it’s already starting to happen…..right in our own backyard.

China challenges US in South America with new port in Peru

Rick Mills
Ahead of the Herd

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