Here in Canada, the default position is that revenue generated from counter-tariffs should be used to support workers at risk. I agree with that, but some significant portion should also be set aside for immediate defence spending & strategic industrial adjustments as well. 1/2 - ThreadSky

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stateofthecity.bsky.social • 2 days ago

Here in Canada, the default position is that revenue generated from counter-tariffs should be used to support workers at risk. I agree with that, but some significant portion should also be set aside for immediate defence spending & strategic industrial adjustments as well. 1/2

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stateofthecity.bsky.social•2 days ago

2/2 On the defence side, one-time costs like refilling our drained supplies of anti-tank, anti-air and drone munitions from European & Cdn suppliers would be ideal. On the industrial side, I mean supporting one-time costs to retool Cdn factories where doing so would allow them to replace imports.

olybackstrom.bsky.social•2 days ago

By abandoning our partnership, he might finally get Canada to spend more on defence. That’s quite a Jedi mind trick /s

stateofthecity.bsky.social•2 days ago

(The one-time point being; we can't assume revenues from tariffs will remain stable, so in budgetary terms, treat at least part of this grim 'windfall' as a one-time funding source for strategic, one-time capital needs rather than assuming it will last forever)

stateofthecity.bsky.social•2 days ago

If we are looking for precedents for defence OR rapid import replacement, ironically, the one I'd turn to is Roosevelt's economy in '40-'41. We did well in Canada at moving to a wartime industrial economy, but the Americans did it bigger and faster, and their lessons are easier to adapt to 2025.

stateofthecity.bsky.social•2 days ago

(More on that later, but we have local policy fish to fry today here in Winnipeg as well...)

rwpickard.bsky.social•2 days ago

Love the five-post thread that begins "1/2"

stateofthecity.bsky.social•2 days ago

6/ I haven't finished yet, let me just get this billion dollar thing at work out of the way first

shaunmckinnon.bsky.social•2 days ago

Wait, won't arbitration eventually find these tariffs in violation of CUSMA and force us to pay them back (same for the US)? Isn't that what happened with softwood tariffs?

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