Trump Threatens MORE Tariffs Against Canada Hours After Offering To Suspend Them Again

Donald Trump’s schizophrenic trade policy was on full display at the end of last week, after he offered to give Canada and Mexico another 30-day reprieve from his tariffs and then immediately threatening to put more tariffs on Canada. These “new” tariffs would include a 250% tax on all dairy products coming into the country, once again making products unaffordable for American consumers. Ring of Fire’s Farron Cousins explains what’s happening.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

So last week, as we all know, on Tuesday, Donald Trump put his tariffs against Canada and Mexico and China into effect. And then about 48 hours later, he uh, decided, Nope, I'm gonna lift some of the tariffs. I'm gonna leave some of them in place. It's kind of this weird, I don't know what exactly I'm doing, type thing, but some of the tariffs are lifted and some of them are not. But the ones that were lifted are only lifted for another 30 days. And then, okay, that's what it is. That was Thursday. They were lifted. Tuesday they were put in place. But then on Friday, Donald Trump came out and said, you know what the hell with it? I may put even more tariffs on Canada, including a 250% tariff on dairy goods coming across the border into the United States. So we are left with this schizophrenic tariff policy from a crazy person, right?

He doesn't know what he's doing, he doesn't know why he's doing it. I talked about in a segment late last week that he's offered multiple different explanations. All of them seemingly contradicting one another as to why he's even doing this. He doesn't know is the bottom line. He doesn't know. And that's why he doesn't know what he's gonna continue to do. If you don't have a reason for doing something, but you keep doing it, nobody can predict what the hell is gonna happen next. And that of course is creating a lot of instability and uncertainty in corporate America, in the stock market, in average, everyday consumers, nobody knows 'cause there's a crazy person with a schizophrenic policy. But here is what he said Friday about the possibility of leveling new tariffs against Canada. Canada has been ripping us off for years on lumber and on dairy products. He then said, you know, they've got a 250% tariff on our dairy exports, so we may match them dollar for dollar. We may do it as early as today, or we'll wait until Monday or Tuesday. We're going to charge the same thing. It's not fair. It never has been fair, and they've treated our farmers badly.

250% tariff on dairy goods and lumber. That is going to cripple. I mean, who God bless Almighty. That is going to raise the cost of your milk 250% because even if you're not getting milk from Canada, as I've discussed multiple times, as we saw during the initial trade war back in 2018, that Trump started, when the price of the foreign products goes up, the cost of the domestic products also goes up because they see these other high prices and they realize, wait a minute, we can raise ours. At least some if not match them. And then

We just, we stay competitive and we just get extra profits. So yes, across the board, product prices do go up even on domestically produced goods. That is what we're looking at here. That is what Trump is threatening. And that threat came less than 24 hours after he said that, Hey, maybe I'm not gonna do tariffs on Canada at all. Would you guys like a 30 day reprieve? It is a schizophrenic policy because you never know which one you're getting that particular day. Are we gonna get the Donald Trump that understands like, oh, okay, yeah, tariffs are hurting Americans, I'm not gonna do it. Let's, uh, work together diplomatically to solve the problems. I say exist. Or the guy who's like, I frigging hate everybody. Everybody's gonna pay more money. Screw you. I'm the smartest economic guy in the world. We don't know. On any given day, we may see both of those Donald Trumps. We may see both of them multiple different times per day. But that's what happens when you have a crazy person in charge of pretty much everything.