Tag: economy

Mapped: The U.S. States Hit Hardest by Canada’s Tariffs

Trade talks between the U.S. and Canada have broken down, with Canada responding to broad U.S. duties with dollar-for-dollar tariffs on key American products.

This map shows the value of exports in each U.S. state covered by Canadian counter-tariffs, using the latest data from BBC for September 2026 from Scotiabank and Statistics Canada. Figures are in U.S. dollars.

States are shaded according to the value of their exports to Canada that are subject to Canadian duties.

Tariff Blues in the Midwest

The Great Lakes region stands out on the map, reflecting its central role in the roughly $870 billion bilateral trading relationship.

Ohio and Illinois have more exports covered by Canadian tariffs than any other states, at $2.3 billion and $2.1 billion, respectively. They are followed by Pennsylvania at $1.8 billion.

The table below lists each state alongside the value of its exports covered by the new Canadian tariffs.

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Democrats Still Don’t Know How to Read Charts

Democrats can be unintentionally hilarious sometimes. Gov. Gavin Newsom (D-Calif.) reposted a chart on X Tuesday claiming housing prices are “the most unaffordable in history,” and that it was Trump’s fault.

There was just one huge problem.

The chart Newsom shared showed that the housing affordability gap actually widened during Joe Biden’s presidency, and X users noticed almost instantly, flooding his replies with screenshots of the very data he’d just posted as though it helped his argument. It didn’t take long for the pile-on to turn Newsom’s own post into a meme about his reading comprehension.

But the funny thing about it is that Democrats keep doing this. In July 2025, the Democratic National Committee posted a chart that they thought proved grocery prices were spiraling out of control in Trump’s second term.

The chart told a different story. It showed a huge spike under Biden. The DNC had unwittingly undermined its own attack on Trump. Social media users mocked the party within hours, dissecting the chart line by line, forcing the DNC to quietly delete the post… not that that stopped us from making fun of them anyway.

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“I’d Be Okay With That”: Trump Says He’s Open To Chinese Automakers Building Cars In US

In comments that most people missed on Friday, President Donald Trump suggested that he’s open to letting Chinese automakers build cars on US soil. 

Speaking with Fox News, Trump said that while he wouldn’t allow Chinese cars to operate in the United States because the US market would be overrun – he might be open to manufacturing them here. 

“We don’t allow his cars into the United States, and I never did,” he said, referring to Chinese leader Xi Jinping, noting that then-President Joe Biden had kept his policies on Chinese cars. 

“If China wanted to come in and open a plant to build their cars here, I’d be okay with that. Japan does it, but they hire our people. The big thing is they hire our people,” he continued, adding “What I don’t want is them to build in Mexico and just … build it inexpensively and ship it across the border.”

As The Epoch Times notes further, a regulation imposed by the Biden administration in early 2025 effectively bans all Chinese automakers from selling or building passenger vehicles in the United States. Washington also maintains more than 100 percent tariffs on Chinese electric vehicles.

Trump’s remarks came ahead of Xi’s planned visit to the United States later this month. The president said on July 23 that he would discuss artificial intelligence with the Chinese leader during the visit. The two leaders last met during Trump’s visit to Beijing in May, where Trump formally invited Xi and his wife, Peng Liyuan, to the White House.

The Alliance for Automotive Innovation, a Washington-based group representing major U.S. automakers, on Sept. 3 urged Congress to permanently ban the sale, import, and manufacture of Chinese-connected vehicles, hardware, and software before the current congressional session ends.

“Right now, Chinese automakers are dumping subsidized vehicles with connected software and hardware around the world,” John Bozzella, the group’s president and CEO, said in a letter to the congressional leadership.

Bozzella warned that China is gaining market share in Europe, Australia, Southeast Asia, Mexico, and South America with vehicles that can collect, process, and transmit “sensitive vehicle and consumer data to the Chinese Communist Party.”

It hasn’t happened yet inside the United States, he said. He urged lawmakers to act quickly, given the scale and urgency of the threat.

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The Crippling Effects of Unnecessary War

In California, gas stations are facing a unique challenge. The station signs are only configured to go up to $9.99 per gallon and at several stations the price of diesel has reached that maximum. Diesel prices are higher than they have ever been in history.

Worse, according to some news reports the advertising of the maximum price of $9.99 per gallon is meant to signal to truck drivers that they have run out of diesel altogether. Expensive diesel is a hit to the economy, but running out of the fuel at any price is a whole different kind of crisis.

Our highways are filled with semi-trucks burning diesel to bring the products we depend on to the markets. Our freight trains use diesel to transport what is not transported by truck. When the price of diesel increases, the cost of everything moved by that diesel also increases. This is one reason we are seeing much more inflation than the government wants to admit.

The diesel crisis is getting so serious that even President Trump has been forced to admit it. Of course, instead of taking at least part of the blame over his war of choice against Iran and his continuation of the proxy war against Russia through Ukraine, he is blaming Ukraine’s military strikes on Russian energy infrastructure.

President Trump is now asking Ukraine to stop attacking Russian energy resources because diesel is a global commodity and the scarcity produced by the attacks is hitting us here at home. But the strikes deep inside Russia are guided by US intelligence, which provides the targeting data for Ukraine.

The Russia/Ukraine war is only part of the problem. Despite President Trump’s bluster about controlling the Strait of Hormuz, the fact is Iran is in control and very little oil – or anything else – makes it out without Iranian approval.

Yemen’s Iran-allied Houthis joining the fight only makes matters worse. Over the weekend they attacked Saudi Arabia’s bypass pipeline, taking much more oil off the market.

The real problem here is not oil or diesel. The real problem is that wars of choice spin out of control and destroy the economies of those who launch them. Empires throughout history have been undone by endless overseas wars. No amount of bragging about the size and strength of our military can change this reality.

Now we are seeing the chickens coming home to roost.

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Americans Were Hungry. FDR’s Government Was Killing Pigs to Raise Prices.

In 1933, about one-quarter of America’s workforce was unemployed. Hunger and malnutrition were widespread, families had lost homes and savings, and millions were trying to survive an economic catastrophe.

Franklin Roosevelt’s government responded to part of that crisis by paying farmers to destroy things Americans could use.

From the Library of Congress:

In a country with abundant resources, the largest force of skilled labor, and the most productive industry in the world, many found it hard to understand why the depression had occurred and why it could not be resolved. Moreover, it was difficult for many to understand why people should go hungry in a country possessing huge food surpluses. Blaming Wall Street speculators, bankers, and the Hoover administration, the rumblings of discontent grew mightily in the early 1930s. By 1932, hunger marches and small riots were common throughout the nation.

In June of 1932, nearly 20,000 World War I veterans from across the country marched on the United States Capitol to request early payment of cash bonuses for their military service that weren’t due to be paid until 1945. The marchers, who the organizers called the “Bonus Expeditionary Force” but who became widely known as the Bonus Army, spent several days in Washington, D.C., pressing their case, but a Congressional bill to pay the bonus was defeated. On July 28, U.S. troops and tanks commanded by General Douglas MacArthur dispersed the marchers and destroyed their makeshift camps in the city.

The Agricultural Adjustment Act rested on an economic theory that sounded tidy in Washington. Farm prices had collapsed because farmers were producing more than markets could absorb.

Reduce the supply, officials reasoned, and prices would rise, and higher prices would restore farm income.

Farmers desperately needed help. The question is what Washington chose to do with that desperation.

In the summer of 1933, the government launched an emergency hog program. Federal officials bought about 6.2 million young pigs and another 222,000 sows to remove them from future markets.

Pigs that couldn’t economically be processed for food were turned into grease and tankage. About 100 million pounds of edible pork did reach relief programs.

The USDA’s own history says officials expected the slaughter to provoke public outrage but considered the action necessary. Agriculture Secretary Henry Wallace later acknowledged how disturbing the policy looked, describing the destruction of growing production as a grim consequence of an economy Washington believed had become badly unbalanced.

The administration understood exactly what it was doing.

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DATA CENTER MYTH BUSTED: No Jobs, Higher Debt, Slower Housing

The data-center gold rush has marched into local communities on one familiar promise: Big Tech brings jobs, growth, and prosperity.

A new 75-page academic working paper found something very different.

Finance scholars Liu Ee Chia, Jess Cornaggia, David Haushalter, and Qiang Wang compared U.S. counties with operational data centers against “near-miss” counties that attracted proposals but never got operating facilities.

They found little corresponding improvement in fiscal capacity, local employment, or business formation.

Instead, local-government borrowing costs climbed as data-center development grew. Water-bond yields rose 26 basis points more in water-scarce counties than in water-abundant counties.

The paper also found higher school-bond yields in major data-center hubs, where housing-price growth slowed. The authors said those patterns aligned with a weaker expected property-tax base.

“Overall, we conclude that investment without labor strains public infrastructure without generating widespread agglomeration gains.” — Liu Ee Chia, Jess Cornaggia, David Haushalter, and Qiang Wang

Saagar Enjeti highlighted the study’s bottom line: data centers can pull capital and utilities into a county without delivering the broad labor-market gains that politicians and corporate developers sell.

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Canada hits the U.S. with tariffs on $20 billion worth of U.S. exports as trade war escalates

Canada retaliated against the tariffs President Donald Trump has imposed on imports from Canada with tariffs on approximately $20 billion worth of U.S. goods. 

The tariffs impact hundreds of American products, including steel, aluminum, cheese, appliances, clothing, cosmetics and farm equipment, the Associated Press reported. 

The tariff rates run from 15% to 50% and match Washington’s tariffs dollar for dollar. They took effect at 12:01 a.m. Tuesday. 

Canadian Prime Minister Mark Carney said U.S. tariffs could severely impact key Canadian industries and limit the country’s sovereignty. 

Trump, meanwhile, has warned that Canada’s economy could collapse if Carney continued to treat him as an enemy, and the president threatened consequences “worse than anything that has ever happened to a Canadian Politician.”

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Canada’s Tariff Strategy Designed To Interfere With U.S. Midterm Elections

Late last month, Canadian Prime Minister Mark Carney walked away from a trade deal with the United States. According to Treasury Secretary Scott Bessent, Canada was “offered the best trade deal of any country on the globe,” but Carney abandoned the deal “at the last minute.”

According to the White House, “the U.S. offered Canada the most preferential market access of any country on Earth, with deep cuts on steel, aluminum, autos, lumber, and more. Instead of partnership, Canada chose unreasonable demands, walk-backs, and flat-out rejection.” Canada responded with retaliation rather than negotiation, becoming the only other country besides China to do so.

And the reason is that Canada is trying to influence the 2026 midterm elections in the United States.

After the trade negotiations failed, Canadian officials announced that tariffs of up to 50% will hit roughly 700 American products starting September 8, covering close to $20 billion in goods, about 7% of everything Canada imports from the United States. The rates range from 15% to 50%, and tariffs on American steel and aluminum will double from 25% to 50%. This was a targeted economic strike meant to hit key states before the midterm elections.

Ottawa has barely bothered to deny it. Canadian Industry Minister Mélanie Joly said the tariffs were built to apply political pressure on specific states, telling reporters: “We are also targeting products that can target specific states in the United States. We are being smart and strategic in order to apply political pressure, and I think it’s the right thing to do right now.”

Asked directly about the political intent by the Canadian Broadcasting Corp., Joly did not walk it back: “We are putting pressure clearly on different states and different people. We don’t want to do that. We don’t want this trade war. We didn’t start it.”

The target list reads like a midterm map. Cheese products from Wisconsin. Washers and dryers from Kentucky, where GE Appliances is a major employer. Steel, aluminum and auto parts from Michigan. The Wall Street Journal reported that Canadian officials designed the package to protect domestic industry and to “sting President Trump and his Republican Party” heading into November.

“The states that are most reliant on Canada as an export market are often the northern-tier states – Maine, Michigan, Minnesota, Wisconsin, New Hampshire,” Ed Gresser told the Wall Street Journal. He argued that Canada is “trying to show the Republican party that there’s a systemic cost to doing this sort of thing.”

Trade consultant Eric Miller, who heads the Washington-based Rideau Potomac Strategy Group, said Canada picked targets with available substitutes, either domestic production or imports from Mexico and China, items like air conditioners and appliances, while simultaneously hitting producers in swing states and reliably Republican territory.

Nowhere was the targeting clearer than Maine, and nowhere did it collapse faster. Ottawa’s original list carried a 25% tariff on American lobster, set to bite during the fall season when roughly half of Maine’s catch goes to Canadian processors. Sen. Susan Collins (R-ME), facing re-election in November, had already warned that the trade war would hurt her state. The Maine Lobstermen’s Association warned on Aug. 26 that the duty would land at the worst possible moment for an industry running on thin margins.

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Trump Declares an End to Selling Canada’s Bombardier Planes in the US Unless They Build in the US as Trade War Escalates

President Trump on Monday escalated the trade war with Canada, announcing that Bombardier, a Canadian airplane manufacturer, will no longer be allowed to sell its jets in the United States unless they build in the US.  

Last month, Trump slapped 50% tariffs on about $20 billion of Canadian goods. Canada’s Mark Carney, in response, reportedly announced plans to impose tariffs of 15% to 50% on American goods.

Now, Trump is threatening to decertify Canadian business jets if manufacturing isn’t moved to the United States.

“NO MORE SELLING BOMBARDIER IN THE UNITED STATES! Their products aren’t good enough!” Trump said, accusing the company of “treating America like a piggybank.”

“Over 50% of their revenue comes from the United States — They live off American Buyers, American Companies, American Airports, and American Service — All while Canada blocks our GREAT American Banks, and Companies, throughout the U.S.A.”

“BUY AMERICAN. FLY ON AMERICAN AIRLINERS. ENJOY AMERICAN LIQUOR AND BEVERAGES. SAIL ON LAKE AMERICA. AMERICA FIRST!” Trump added.

NO MORE SELLING BOMBARDIER IN THE UNITED STATES! Their products aren’t good enough! Over 50% of their revenue comes from the United States — They live off American Buyers, American Companies, American Airports, and American Service — All while Canada blocks our GREAT American Banks, and Companies, throughout the U.S.A.

They even blocked Gulfstream Aerospace from doing business in Canada — Completely unjust and unfair! That Era is OVER! If they want our Market, they must build here, and stop treating America like a “piggybank.”

BUY AMERICAN. FLY ON AMERICAN AIRLINERS. ENJOY AMERICAN LIQUOR AND BEVERAGES. SAIL ON LAKE AMERICA. AMERICA FIRST! Thank you for your attention to this matter. President DONALD J. TRUMP

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Israeli Economy Doing Just Fine

Israeli journalist Amir Tsarfati posted the following on his Telegram channel.

Just before Rosh Hashanah, Israel’s Ministry of Finance publishes a positive overview of the Israeli economy, stating that the economy remains stable and growing despite the challenges and uncertainties of recent years.

Growth and Investment: In the first half of 2026, GDP grew by 3.2% compared to the second half of 2025. Foreign investment increased by 78%, totaling $26 billion in 2025, and this upward trend continued in 2026. The high-tech sector continues to lead the economy, with a 53.6% increase in capital raising.

AI Powerhouse: Israel continues to solidify its position as one of the leading AI powers in the world, ranking 3rd globally in AI trading, 6th in development, and 7th in research, out of 83 countries.

Inflation, Shekel, and Stock Exchange: Inflation fell from 2.5% to 1.5% within a year. The Tel Aviv 125 index rose by 35%, and the shekel strengthened by 11% against the dollar.

Deficit and Debt: The deficit decreased from 4.7% to 3.3%, and the debt-to-GDP ratio stands at 67.9%, compared to an average of 111% for OECD countries.

Confidence and Risk: Israel’s risk premium (CDS) decreased by 29% and is approaching its level before the war. The yield on the Israeli government bond for 10 years decreased by 7.2%, meaning the cost of borrowing for the state has decreased.

Labor Market: The unemployment rate remains low at 3.3%, compared to an average of 4.9% for the OECD. The labor force participation rate is 62.5%, compared to 61% in the OECD, but the employment rate for people aged 15-64 is lower than the average: 71% compared to 74%.

Standard of Living: GDP per capita in terms of purchasing power is approximately $60,000, compared to approximately $64,000 on average for OECD countries.

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