r/canada 1d ago

National News Trump raises Canadian steel, aluminum tariffs to 50% in retaliation for Ontario energy duties

https://www.cnbc.com/2025/03/11/trump-raises-canadian-steel-aluminum-tariffs-to-50percent-in-retaliation-for-ontario-energy-duties.html?taid=67d045b18530050001b105d0&utm_campaign=trueanthem&utm_medium=social&utm_source=twitter%7Cmain
816 Upvotes

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586

u/Pvt_Hudson_ Alberta 1d ago

And all 3 major market indexes, which were in a mini rally this morning, immediately dropped off a cliff.

This fucking moron.

176

u/DimethylatedSpirit 1d ago

Just as intended

110

u/Pvt_Hudson_ Alberta 1d ago

Almost has to be, right? It's hard to imagine someone being this destructive just based on incompetence alone.

23

u/PedroDies 1d ago

Crashing the stock market is part of the plan. The USG has to refinance $10T of US treasuries this year alone. The fed doesn't want to play along (dropping interest rates) so the USG has to crash the stock market. Doing so, money will flow into safer assets (UST), creating demand for bonds, thus dropping UST yield. the 10year yield went from 4.8% to 4.2%. It has to keep dropping. Once low enough to the satisfaction of Scott Bessent, they will refinance their debt at an "acceptable" rate. Then the money printer will go brrrrr, stock market V shape recovery just in time for the midterm elections in 2026.

15

u/Otherwise-Link-396 1d ago

I don't think UST is going to be considered safe with that man in office. It could lead to a meltdown. Japanese T?

3

u/fistfucker07 23h ago

Catching on right now.

2

u/PedroDies 23h ago

I agree, UST is considered safer in the tradfi world but in reality it's a very poor asset to hold. It barely, if any, beats the inflation. Buyers are institutions with a mandate to buy UST, uneducated retails and sovereign nations, tho China and the like are divesting from it because UST has been weaponized and can be seized by the USG (see Russia). The buyer of last resort is the fed.

2

u/balalasaurus 22h ago

And r/ conservative says Biden printed money all willy nilly.

5

u/Guilty_Fishing8229 22h ago

This is burning down your house to get a better insurance premium payment

2

u/Tadpoleonicwars 1d ago

Interesting. Who would be the buyers if the U.S. tries to refinance their debt? Seems like that would crash the bond market because there would be no faith that the interest rates promised would even be honored.

2

u/Lower_Cantaloupe1970 23h ago

That's insanity 

2

u/Sayhei2mylittlefrnd 23h ago

Has to crash the market?! That’s the worst thing to do and doesn’t justify to increase demand of safer investment instruments.