Quotes
There are three reasons why we think the 25% tariffs may not be permanent. First, they would be disruptive for the US, and US business groups are already exerting pressure on the Trump administration. Second, they will be hard to implement due to the high degree of integration in manufacturing in North America. Lastly, we think Canada and Mexico are likely to agree to most of Trump's terms on migration and drugs,
Bank of America global economist Claudio Irigoyen said in a note to clients Monday While this is a clear warning against retaliation, it has no automatic effect,
Our economists expect that fully implemented tariffs would have meaningful consequences. A recession in Mexico becomes the base case. US Inflation could be 0.3 to 0.6pp higher vs baseline over the next 3-4 months (putting headline PCE inflation at 2.9% to 3.2%) and US growth could be -0.7 to -1.1pp lower vs baseline over the next 3-4 quarters (putting real GDP growth at 1.2% to 1.6%),
Morgan Stanley strategist Michael Zezas said in a note to clients Sunday Any infrastructure upgrades would not happen overnight,
We don’t need anything they have. We have unlimited Energy, should make our own Cars, and have more Lumber than we can ever use.”
Trump in a message posted on Truth Social Sunday said If Canada is going to rely on America for its economic growth, how about you treat our farmers, our ranchers and our fishermen with respect?”
I think it is a mistake to think that Trump 2.0 is going to be as benign for Asia. I suspect that after (the US) starts imposing these tariffs against Canada, Mexico, China, and moves on to the EU, it will become much harder for firms across Asia to use inputs from China, and potentially Canada and Mexico to export to the US,
We're still a small player when compared to the might of the US economy. And so what we have to do is look at where we have critical leverage, where we have essential goods that they are very reliant on,
It also is a powerful signal to the rest of the world that the US is prepared to do extraordinarily unusual things in order to, as Trump says, make America great again,
said Elms, head of trade policy at philanthropic organisation Hinrich Foundation At the end of the day, it requires the parties to want it to work. It's not clear that the US under Donald Trump wants USMCA to work,
said trade and economic policy expert Deborah Elms We can have a tit-for-tat, which would be an absolute disaster,
Seeing an all-out tariff on all goods and trade with Canada, that is quite profound, quite disturbing, and it will impact businesses,
It is supposed to prevent exactly this kind of behaviour – a sudden imposition of 25 per cent tariffs across the board,
she told CNA’s Asia First There are others in his sights. He's already threatened the European Union with upcoming tariffs later on in February,
It will hurt us, it will also hurt them. They're going to feel it very quickly. It will affect the affordability of everyday goods,
Ultimately, trade wars hurt everyone - workers, consumers, farmers, and the global economy, particularly if the effects are widespread,
Higher tariffs are inflationary and likely to lead to higher mortgage rates for longer, but how much higher and how much longer depends on a slew of details,
Chen Zhao, who leads the economics team at real estate brokerage Redfin, wrote in a report released on Sunday A substantial portion of U.S. building materials are imported from Canada,
Estimates vary and depend on the specifics of the policy, but the U.S. economy has already been gradually weakening under the strain of high interest rates,
Trump's policies that aim to stimulate economic growth could cause inflation to increase, leading to higher mortgage rates—potentially offsetting some of the advantages of increased income."
Cynthia Seifert, founder of real estate seller leads generator KeyLeads, previously told Newsweek
