Mark Carney taking on Trump

[RedHot2025]

Fighting talk from Mark Carney today. He will win the trade war with America. Blames Trump entirely for this trade war.

He will apply from today 25% surcharge on energy to the 3 US states they supply. Means around 100 dollars per month per family in those states.

Trump is a buffoon as well as a bully and people will not tolerate his actions.

Does Trump have dementia?

Or is he thick as shite?

YABU he's just thick

YANBU he has dementia

https://www.irishtimes.com/politics/2025/03/11/mark-carneys-back-of-envelope-idea-paved-way-for-ireland-to-renegotiate-bank-debt/

It has saved Irish taxpayers billions

A bit out of left field, but what's the story in Canada regarding trans rights and gender criticism? And what's Carney's approach going to be? I know it's the economy stupid, but other things matter to biological women too.

Not when their country’s threatened by its next door neighbour. I don’t imagine Ukrainian women are particularly troubled by it.

Which people are you happy to see upset?

I do know people who know 'anything about the City' and they don't align with your views at all!

Me too @Goldenbear people with decades of experience and they like Carney.

They don't dog whistle weird catch phrases either, so there's that.

The only thing that hurts Carney in Canada (apart from proximity to Trudeau) is the Carbon Tax. Which should never have been called that and is divisive.

Tariffs on Steel raised to 50% from 25% and a rant on SM demanding that Canada becomes the 51st state.

Trump is fucking insane.

and he will get steel and aluminum from who when?? Oh not next day next week maybe next month.

If you see something trashing your stock market, it's best to double down and do it more....

Or electricity (85% of imported electricity in the US is from Canada), or oil (60% of imported oil is Canadian)...

Pretty soon, Trump's supporters are going to figure out that the extent of his negotiation skills is "bigger means you get what you want", and that doesn't actually work in real world politics...especially when you've managed to get almost all the other countries in the developed world to align against you, and combined they're far bigger than you are.

Word amongst the MAGA faithful is that the stock market crash is nothing to do with Trump, because they found some articles from 2023 that said a correction would be coming.

They'll always find a way.

Yes, never mind what every stockbroker and economist says to the contrary. Experts? Nah! We don't need no steenkeeng experts!

That 85% number sounds impressive until you realise that the US actually imports less than half of 1% of its yearly electricity use from Canada. Net off the amount the US exports to Canada and its probably less than a quarter of 1%.

If the electricity supply from Canada was completely cut off it would probably cause some logistical problems for communities in the far north of the US but it is hardly going to be devastating.

Its incredulous isn't it
Nothing is questioned. I have seen things across threads and online in the last month from sharia law in the UK, £350b to Ukraine, Z House in Florida the dead people claiming social security etc etc, its terrifying what world they live in where everything is believed
This is what worries me more than anything, that we won't get out of this way of thinking as too many will have just been subsumed by the lies.

And the irony of them going on about free speech. I know that all politicians lie and manipulate figures but it's incredible

I just saw this. Massive rises in tarrifs for Canada.

Stocks markets like stability and Trump isn't stable so losses for investors.

His buddy Putin will be telling him what to do next soon.

I suspect it matters to the 3-4 million people who use it.

On the other hand...oil is far more interesting. The US uses 20 million barrels a day, a quarter of which is from Canada.

So, like parents who care about their kids?
People with some concern over the climate?
People who want continued funding for cancer research and trials?
People who want scientific and medical advancements to continue?
People who have money invested in the market?
People who worry about the effects of unchecked, mutating diseases?
People who care about privacy?
People who believe in the right to free speech?
People who believe women should be able to make their own reproductive and healthcare decisions?
People who want scientifically overseen weather and climate forecasting?
People who want to fly safely?
People who don't think we should help Putin kill more Ukrainians before annexing parts of the country?

What a stupid comment.

GasPanic

If the electricity supply from Canada was completely cut off it would probably cause some logistical problems for communities in the far north of the US but it is hardly going to be devastating.

It will be for millions in New York State and Minnesota. Add in the knock on effect of the loss of travel and communications...

It will cause some short term issues but will be rapidly resolved. In the same way people played switch-a-roo with the gas supplies when Europe cancelled the Russian ones.

Trump seems to have MBS as his best mate with Putin not that far behind. Plus the US has a pretty good drilling capability itself and some significant reserves.

My guess is it will cause some short term issues with the US, but will probably cause more issues for Canada in the long to medium term as they lack the capability to move that oil to anywhere else.

The biggest loser will probably be the environment as it makes more sense to use the oil close to point of source than move it around the world 1000s of miles.

The trouble with that argument is...the US doesn't have the ability to refine most of the crude oil it produces - that's why it gets so much from abroad.

And in the meantime, the single most important measure of the economy to most US voters - the price of petrol - is going to hit the roof. The only realistic alternative is to tie the US economy to Russia's (which is in the toilet at this point and still sinking) by importing it all from there, although even they won't be able to make up for the shortfall.

Proof positive that ol' Donnie doesn't really think anything through.

Carney on bsky

President Trump’s latest tariffs are an attack on Canadian workers, families, and businesses. My government will ensure our response has maximum impact in the US and minimal impact here in Canada, while supporting the workers impacted. (1/2)

My government will keep our tariffs on until the Americans show us respect and make credible, reliable commitments to free and fair trade. (2/2)

https://bsky.app/profile/mark-carney.bsky.social/post/3lk4kqpbohs2c

The US has the additional capability to draw down on the SPR.

Even with zero replacement of imported Canadian oil it could last 100 days just off that.

It will cause some short term disruption to the US but it won't lead to any lasting issues. My guess is it will devastate the Canadian oil industry though.

I have a gut feeling it won't get that far, but we shall see.

What's the SPR?

Strategic petroleum reserve. Basically a load of underground salt caves the amercians use to store oil in case of emergencies.

They are down to about 400 million barrels at the moment I think. But its still a hell of a contingency.

The issue is whether people like the reality or not, no country is going to win a trade war with a country 10x the size of themselves. It just isn't going to happen.

There may be some short term pain as sides readjust, but no long term damage for the US. This is probably why Trump is working aggressively on implementing things now, so by the time the next election comes around the situation is (hopefully for him) resolving itself in his favour.

It's slightly ironic that the same people who were saying a couple of years ago that the UK could never win a trade war with the EU through Brexit because the EU is so much bigger than the UK are now turning round 100% and saying that Canada can somehow win a trade war with the US.

@GasPanic you make some good points, but I'm not sure what happens next. What do you think will happen with all this?