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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 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.

Restricting trade with those countries would hit West Coast states the hardest because they rely most heavily on trade with Asia. But it's not clear whether the Trump administration supports the idea. In an interview with The Wall Street Journal last week, Trump criticized the plan as "too complicated."

President Trump 's move to overhaul NAFTA could end up hurting workers in states that heavily supported him. Restricting trade with those countries would hit West Coast states the hardest because they rely most heavily on trade with Asia.

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 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.

5 States That Would Get Hit Hardest in a Trump Trade War - www.thefiscaltimes.com. Which states would be hurt most by a Trump trade war ? - theweek.com. The U.S. states most economically reliant on trade with Mexico and Canada are Michigan, Texas, North "If this meeting is confirmed, it

The most politically damaging ways to hurt Trump in a trade war . Quartz analyzed US trade data from the Census Bureau and found that for each of these states there is one product that would hit that state ’s exports disproportionately hard , while disrupting international trade least.

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.

Trump 's blistering rhetoric condemning China's trade practices generated cheers of support on the campaign trail. Hardest hit . A slowdown in trade with China would be felt unevenly across the U.S., with some states hit much harder than others.

Trump - supporting states to get hit hardest by Canadian tariffs. (To our knowledge, no one has yet estimated the jobs at risk in Canada from the trade war .)

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.

Mayor John Tory takes on Trump and tariffs at board of trade speech

  Mayor John Tory takes on Trump and tariffs at board of trade speech Mayor John Tory says he stands with Prime Minister Justin Trudeau against U.S. President Donald Trump’s “sabre-rattling”, calling on other big city mayor’s to do the same.Tory, whose public addresses are normally purposefully measured, spent a large part of a lunchtime speech at the Toronto Region Board of Trade on Bay St. Thursday lecturing the U.S. president, saying his “rhetoric” on trade threatens a successful agreement and the economic well-being of two countries.The mayor said he would speak to his counterparts in Canada and the U.S., including those cities with which Toronto has strong economic ties.

Trump seeks new China tariffs as trade war worries mount. Mar.22.201801:50. “This is China’s strategy: Those agricultural products that China included in its new tariffs were targeted at Trump 's supporters , those states and people who supported Trump .

Among the hardest hit would be farm states such as Iowa, South Dakota and Nebraska Trump has argued that large trade deficits with China are a sign that Beijing is not playing fair in global trade . On Wednesday, he dismissed the idea that the escalating threats of higher tariffs amount to a trade war .

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.)

At odds with Trump over trade, Canadians say they will avoid U.S. goods: poll .
At odds with Trump over trade, Canadians say they will avoid U.S. goods: pollThe poll also found a majority of Americans and Canadians are united in support of Trudeau and opposition to Trump in their countries' stand-off over the renegotiation of the 1994 North American Free Trade Agreement (NAFTA).

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