Trump finalizes tariffs on Canada, Mexico, China, triggering likely trade war

Trump using America’s economic might to bully the world, yet the counties that voted for him only make up 30% of America’s GDP.

The rest of us didn’t ask for his moronic trade policies.

 

A while back I said Trump was going to sign/make trade deals with Great Britain first, and NOT THE EU... Looks like I was right again.

Lol... that's just chatter at this point in time, until a deal is actually signed. But I feel good about my educated guess.

 

In what is a telling sign of the dragging trade deal negotiations Trump is announcing a trade "deal" (understanding) that will take months to hammer out with our closest ally who has a weak economy. Yep.. the layup "deal" has taken months to get an understanding and will take months more of negotiating. We are screwed.

• By the way, we had a free trade deal with them prior. So, we are winning nothing
• What will be announced today is likely to be only the bare bones of a narrow agreement.
• There will be months of negotiations and legal paperwork to follow.
• It could also be relatively short-term, covering just a few items.
• Currently, most goods imported from the UK to the US face a blanket 10% tariff and that's expected to remain.
• But this deal is likely to reduce tariffs on specific items set to be subject to higher tariffs.

We will see....

https://www.nytimes.com/2025/05/07/business/economy/trump-trade-britain.html


President Trump is expected to announce on Thursday that the United States will strike a “comprehensive” trade agreement with Britain.


Mr. Trump teased a new trade agreement in a social media post on Wednesday night, though he did not specify which nation was part of the deal. On Thursday, a senior British official confirmed that a deal with the United States had been reached.


And on Thursday morning, Mr. Trump was back on social media to confirm that it was, in f

 

Cleveland Cliffs cancels another project, while making sure to laud the program that will lead them to receive higher prices due to less competition.

Cleveland-Cliffs cancels Weirton transformer project expected to create hundreds of jobs

 

Finally I can afford petrol for me lorry, thank you Mr. Trump

 

Some huge breaks on:

English Peas
Earl Grey Tea
Rolls Royce

 

Don't forget about crumpets

 

You're kind of on to something, yet have no clue what it is. And, frankly, never will.

 

I would also add that:

• The UK is the 11th largest trading partner with the US
• The US actually has a net trade surplus with the UK, a surplus that had increased in 2023 and 2024
• The UK accounts for 3% of all trade between the US and other countries

In other words while the UK is among our closed allies politically in terms of trade it doesn't come remotely close to Canada, Mexico and China. The reality is that Trump's trade deal with the UK which would still require approval by Congress who have a negligible impact on the US economy.

 

more steel plants shutting down

Cleveland-Cliffs plunges after posting Q1 loss; to idle six more steel plants

The steelmaker will fully idle the Minorca mine and partial idle of the Hibbing Taconite mine, each in Minnesota; idle the blast furnace, BOF steel shop, and continuous casting facilities at Dearborn Works in Michigan; fully idle the Steelton, Pennsylvania rail facility; fully idle the Conshohocken, Pennsylvania plate finishing facility; and fully idle the Riverdale, Illinois compact strip mill facility.

The company also will no longer deploy capital toward the development of a transformer production plant in Weirton, West Virginia.

 

Markets like the UK/UF trade deal:

dji today - Bing

BREAKING: Here Are the Details of the Trump Trade Deal With the UK

Also, the US and China start negotiations on Saturday now with a deal framework in place.

Many more trade deals to follow.

Promises made, promises kept = winning.

 

Good news regarding the trade deal with the UK. Tariffs on Rolls Royces and Bentleys imported from the UK into the US will be reduced. Unfortunately, the price of Fords manufactured in Mexico as well Fords manufactured in the US with Mexican parts are increasing significantly.
Tariffs cut on UK cars, steel and aluminium in US trade deal, says Starmer – UK politics live | Politics | The Guardian

Exclusive: Ford hikes prices on Mexico-produced models, citing tariffs

 

Let us know when they sign the deal. Right now this is the equivalent of a concept of a plan. Also, we have a trade surplus with the UK so what exactly are we winning?

 

Nonsensical analysis. The market moved because he said he is willing to come off of 145% China tariffs. No one cares about the minor UK/US deal that didnt change anything of merit.

“It’s at 145. So we know it’s coming down“

 

As pointed out, the markets like the signal that the Chinese tariffs aren't permanent. Of course, the existence of all this trade stupidity at all has substantially lowered market value since Trump came into office.

 

Yeah, but maga is easily fooled and they will celebrate this as some massive win.

 

More importantly, how will this impact Hendricks? My favorite Gin.