Money States that supported Trump would get hit hardest in a Canada trade war

02:35  12 june  2018
02:35  12 june  2018 Source:   cnbc.com

Canada joins EU in filing challenge to Trump tariffs

  Canada joins EU in filing challenge to Trump tariffs Canada joins EU in filing challenge to Trump tariffsCanada joins the E.U. in dragging a mounting trade dispute with the U.S. to the WTO, which regulates international trade.

Canada on Friday fired the latest round in a widening trade war sparked by President Donald Trump 's tough trade stance that helped him win the 2016 presidential election. A closer look at state -level trade data, though, may give many of Trump 's supporters second thoughts.

Voters who supported President Donald Trump in 2016 can be expected to cheer his tough stance on trade policy with Canada . A review of state -level trade data, though, may give many of them second thoughts. The U.S. and its second largest trade partner moved closer to an outright trade war

Donald Trump, Justin Trudeau are posing for a picture© Provided by CNBC
  • Voters who supported President Donald Trump in 2016 can be expected to cheer his tough stance on trade policy with Canada.
  • A review of state-level trade data, though, may give many of them second thoughts.
  • A CNBC analysis of 2016 voter turnouts and trade flows with Canada shows that states like Ohio, Texas and Indiana that supported Trump generally enjoy a surplus in goods trade with Canada.
  • By contrast, the biggest deficits in goods trade with Canada are in states like California and Illinois that voted for Clinton.

Voters who supported President Donald Trump in 2016 can be expected to cheer his tough stance on trade policy with Canada.

Canada is slapping tariffs on $12.8 billion of US goods — here are the states that stand to lose the most

  Canada is slapping tariffs on $12.8 billion of US goods — here are the states that stand to lose the most President Donald Trump announced steel and aluminum tariffs on Canada.Prime Minister Justin Trudeau announced that Canada will impose retaliatory tariffs on $12.8 billion worth of US goods in response to Trump's metals tariffs.

Voters who supported President Donald Trump in 2016 can be expected to cheer his tough stance on trade policy with Canada . A review of state -level trade data, though, may give many of them second thoughts. The U.S. and its second largest trade partner moved closer to an outright trade war

Voters who supported President Donald Trump in 2016 can be expected to cheer his tough stance on trade policy with Canada . A review of state -level trade data, though, may give many of them second thoughts. The U.S. and its second-largest trade partner moved closer to an outright trade war

A review of state-level trade data, though, may give many of them second thoughts.

The U.S. and its second largest trade partner moved closer to an outright trade war Sunday, after Trump and top White House advisers lashed out at Canadian Prime Minister Justin Trudeau. The tense exchange followed Trump's decision to abruptly withdraw support for a Group of Seven communique and verbally attack Trudeau as being "very dishonest and weak."

Canadian Foreign Minister Chrystia Freeland told reporters on Sunday that Canada would retaliate against U.S. tariffs in a measured and reciprocal way, adding the country would always be willing to talk.

In Singapore Monday, Trump escalated the war of words with a fresh pair of tweets.

Trump's Twitter tirades are consistent with his long-running complaints about U.S. trade deficits and campaign promises to "get tough" with U.S. trade partners.

U.S. steel tariffs an insult: Trudeau

  U.S. steel tariffs an insult: Trudeau U.S. steel tariffs an insult: TrudeauOTTAWA - Prime Minister Justin Trudeau says it is "insulting" that President Donald Trump says Canada's steel industry poses a national security risk to the United States.

Voters who supported President Donald Trump in 2016 can be expected to cheer his tough stance on trade policy with Canada . But a close look at U.S. trade data suggests that Trump supporters in states that sent Get More at CNBC.com.

Trump ’s trade complaints also include a fundamental misreading of the overall U.S, trade position with Canada . Trump insists that trade relations are unfair because of a large U.S. trade deficit in goods with Canadian producers, suggesting that Canada is “winning” on trade .

The president continued his Tweetstorm from Singapore, where we was set to meet with North Korean president Kim Jong Un for a much-anticipated summit on nuclear disarmament on the Korean peninsula.

But a closer look at U.S. trade data suggests that Trump supporters in states that sent him to the White House are the last ones who should be rejoicing over the prospect of a trade war with Canada.

A CNBC analysis of 2016 voter turnouts and trade flows with Canada shows that states like Ohio, Texas and Indiana that supported Trump generally enjoy a surplus in goods trade with Canada. By contrast, the biggest goods trade deficits with Canada are in states like California and Illinois that voted for Clinton.

The major exception is Michigan, which runs a large trade deficit in goods with Canada and voted for Trump by a slim margin in 2017.

Trump's trade complaints also include a fundamental misreading of the overall U.S, trade position with Canada.

Chrystia Freeland On Canada Being A Threat To The U.S.: 'Seriously?'

  Chrystia Freeland On Canada Being A Threat To The U.S.: 'Seriously?' Foreign Affairs Minister Chrystia Freeland had a blunt response to the notion that Canada could be considered a national security threat to the United States. "Seriously?"Freeland was speaking to CNN's Dana Bash on the network's "State of the Union" Sunday about the White House's recent decision to slap Canada, as well as Mexico and the European Union, with a 25 per cent tariff on steel and a 10 per cent tariff on aluminum.

Voters who supported President Donald Trump in 2016 can be expected to cheer his tough stance on trade policy with Canada . But a close look at U.S. trade data suggests that Trump supporters in states that sent Get More at CNBC.com.

I live in a "blue" state and fuck the new tax bill hard . Very very very hard . My dad is a Trump supporter . He gets all of his news through right-wing talk radio, Fox News, and his friends at work. I doubt he'll ever come to Canada again, but if he does, he won't get the welcome he's expecting.

Trump insists that trade relations are unfair because of a large U.S. trade deficit in goods with Canadian producers, suggesting that Canada is "winning" on trade.

That claim ignores a full accounting of the exchange of U.S. goods and services with Canada, Last year, goods exports totaled $282.5 billion; goods imports totaled $300.0 billion, for a trade deficit in goods of $17.5 billion, according to White House data.

But the U.S. economy, and the bulk of jobs it produces, is much more heavily weighted toward the delivery of services, from the production of television and movies to the delivery of a college education.

Those services also represent a major U.S. export. When a family from Montreal visits Disney World in Florida or a student from Toronto pays tuition to a university in Kansas, that exchange represents an export of U.S. services.

As it does with most of the rest to the world, the United States runs a trade surplus in services with Canada. Last year, services exports were $58.7 billion; services imports were $32.8 billion, for a services trade surplus of $25.9 billion.

That services surplus more than offset the deficit in goods, giving the U.S. an overall trade surplus with Canada of $8.4 billion.

(Reuters contributed.)

Trump says 'getting there' in NAFTA talks with Canada, Mexico .
U.S. President Donald Trump said on Tuesday progress was being made in slow-moving talks to update the NAFTA trade accord between the United States, Canada and Mexico, but he held out the prospect of striking bilateral pacts if a three-way deal could not be reached. "We're trying to equalize it. It's not easy but we're getting there," he told a group of U.S. small business executives. "We'll see whether or not we can make a reasonable NAFTA deal."Renegotiating the North American Free Trade Agreement, which Trump called a "disaster" for the United States, was a goal he had set out during his election campaign.

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