- If you voted out the incumbent because you thought gas prices were too high, I have yet more bad news for you. The petroleum industry is well-integrated across North America. In the American Midwest, most refined petroleum products come from Canada bsky.app/profile/gasb...
- I asked @gasbuddyguy.bsky.social for a back-of-the-envelope estimate for how much these tariffs would affect US gas prices. His response:
- Patrick De Haan (@gasbuddyguy.bsky.social) adds: “Also, I'd guesstimate the impact would be billions of dollars to U.S. motorists on a yearly basis. Perhaps $6-$10 billion per year.”
- If you voted out the incumbent because you thought he’d help the US auto industry, I have even more bad news from you. As trade expert @kclausing.bsky.social observes, auto parts cross NA borders many times in the process of making a car/truck. This will wreak havoc on the US auto sectorNov 26, 2024 02:04
- Not to mention that we import a ton of other inputs/intermediate goods from Canada and Mexico (machinery, metals, wood) that then get used by US manufacturers to make higher-value products. So the downstream US firms that depend on those firms will be screwed too.
- And we haven’t even gotten to the likely retaliatory tariffs!
- Fun fact: “The average American eats about 20 pounds of fresh tomatoes per year, two-thirds of which now come from Mexico.” asmith.ucdavis.edu/news/mexican...
