Not a very active news week, so to spice things up, our President announced a 35% tariff on those pseudo-socialists to the north of us. Now, I don’t know how you feel about this political move, but even with the exchange rate of US$0.7315 for every 1 Canadian Loonie, 35% is going to make it significantly more expensive to get your cheap Canadian RX’s and bootlegged organic maple syrup back across the border for consumption in the Land of the Free.
It has been postulated that King Charles III (who resides across the pond) and Prime Minister Carney (who is not a real “carnie”) are putting their heads together to find out how to retaliate, but there’s only so much revenue to be made on proprietary U.S. products like Chik-Fil-A sauce. Tariffing Trader Joe’s products could be hurtful to both countries, and imposing tariffs on U.S. medical, dental, and vision procedures for which Canadians happily and frequently cross the border might just lead to a complete overhaul of Canada’s socialized medicine.
Jerome Powell (whose likeness AI has yet to master) is not happy about the new tariffs on Canadian whares due to their inflationary repercussions and is digging in his heels about any possibility of a rate cut later this month. Fed Governor Christopher Waller doesn’t seem to have a problem with the proposed tariffs or cutting interest rates, which is why he is a top contender to be appointed by the President to take over Jerome’s job when his term expires next year.
