this post was submitted on 30 Jan 2025
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[–] Mechanize@feddit.it 166 points 4 weeks ago (4 children)

“Look, Mexico and Canada have never been good to us on trade,” he continued. “They’ve treated us very unfairly on trade, and we will be able to make that up very quickly because we don’t need the products that they have.”

Hahahahaha...oh god, comedy heaven!

...Wait, what do you mean this is not the onion?

[–] FlyingSquid@lemmy.world 118 points 4 weeks ago (4 children)
[–] Stamets@lemmy.world 98 points 4 weeks ago (1 children)

They also import a shitload of electricity.

[–] FlyingSquid@lemmy.world 73 points 4 weeks ago (1 children)

And pretty much anything made out of a tree.

[–] morbidcactus 49 points 4 weeks ago* (last edited 4 weeks ago)

Lots of metals as well, TD has an analysis if interested.

Canada and Mexico are the 2 largest trading partners. Cusma review is next year, didn't he do the exact same thing going into the NAFTA 2.0 negotiations? Just wish we'd do a united front with Mexico on this.

[–] Aurenkin@sh.itjust.works 52 points 4 weeks ago (1 children)

Tariffs on oil and microchips, should make a nice dent in cost of living.

[–] mjhelto@lemm.ee 1 points 4 weeks ago

Yeap. Lot cheaper to live without a house payment!

[–] Serinus@lemmy.world 17 points 4 weeks ago (1 children)

Those Biden "I did that" sticker on gas pumps are gonna look a hell of a lot different in hindsight.

[–] Bytemeister@lemmy.world 8 points 4 weeks ago* (last edited 4 weeks ago) (1 children)

Couldn't have picked a better week to switch to an electric car.

[–] Cethin@lemmy.zip 9 points 4 weeks ago (1 children)

Bad news. Cost of petroleum increasing probably increases the cost of electricity too. Energy is energy. If cost of one source of energy increases then other sources also increase price.

It probably won't be as bad as gas prices, but it's probably all going up.

[–] Bytemeister@lemmy.world 2 points 4 weeks ago (1 children)

Good news, my EV holds about 5 dollars of electricity in it. Doubling the price isn't going to be a huge deal. My partner's civic holds ~ 48 dollars worth of gas. Doubling that is going to be painful.

[–] Cethin@lemmy.zip 2 points 4 weeks ago

Yeah, good point. Electric is just always going to be cheaper. Still, it doesn't totally remove the effect of oil prices, which should be higher but not like this.

[–] floofloof 1 points 4 weeks ago (2 children)

The United States is one of the world’s largest oil producers, producing enough crude oil for domestic consumption and exporting millions of barrels daily. In 2023, it exported just over 10 million barrels per day, or b/d, of petroleum to 173 countries and three US territories.

Yet, the US also imports roughly 8 million b/d, mostly heavy crude,60% of which comes from Canada, up from 33% in 2013. US oil refining capacity stood at 18.4 million barrels per day (b/d) as of Jan. 1, 2024. This may seem counterintuitive, but there are several reasons why the US still relies on imports.

That says that 60% of the oil the USA imports comes from Camada, not that the USA imports 60% of its oil from Canada.

[–] FlyingSquid@lemmy.world 4 points 4 weeks ago (1 children)

Sorry... what's the difference? Both are about how much of the oil the U.S. imports comes from Canada.

[–] floofloof 4 points 4 weeks ago* (last edited 4 weeks ago)

Maybe I'm not reading it the way others would. I would have understood "The US imports 60% of its oil from Canada" to mean that 60% of the oil the USA consumes comes from Canada, not 60% of the oil the USA imports. The oil consumed will include both domestically produced oil and imported oil.

[–] chuck 3 points 4 weeks ago* (last edited 4 weeks ago)

I lost track isn't Canada a reliable exporter of medical isotopes too?

Edit hmm seems the us imports alot of those https://healthimaging.com/topics/medical-imaging/molecular-imaging/why-us-still-dependent-foreign-medical-isotope-production

[–] Bieren@lemmy.world 61 points 4 weeks ago (3 children)

Someone should tell the talking Cheeto that we are a net exporter on oil and the majority we import is from Canada and Mexico. You know, the whole thing of there being different types of oil and the refineries in the US are set to refine foreign oil and not our own oil.

[–] Rhaedas@fedia.io 84 points 4 weeks ago (1 children)

"Who knew oil was so complicated?"

Anytime he finds something out, "nobody knew". Anytime he finds out he went too far, "no one knew it was this complicated".

[–] LifeInMultipleChoice@lemmy.world 21 points 4 weeks ago (1 children)

I assume this is referring to his "Who knew healthcare could be complicated" comment 8 years ago that we have yet to hear his plan for after promising one in two weeks

[–] MutilationWave@lemmy.world 14 points 4 weeks ago

He said it pretty often in his first term. The commenter you replied to has it right. "Nobody knew..." translates directly to "I just found out"

[–] lazylion_ca 8 points 4 weeks ago

Sort of. As I understand it, theres a pretty specific weight/grade/thickness of oil that can be refined into products. Most of the US oil is too thin. Most Canada oil is too thick. So we mix the two and viola!

It'd be nice if someone in Canada would build a refinery here. But then we'd have to import thin oil to mix with.

[–] ShepherdPie@midwest.social 34 points 4 weeks ago (2 children)

The Agreement between the United States of America, Mexico, and Canada (USMCA) was entered into force on July, 1, 2020, under the USMCA Implementation Act, H.R. 5430; Public Law 116-113. It replaces the North American Free Trade Agreement (NAFTA) which was in force from January 1, 1994 to June 30, 2020.

Hmm who was president in 2020?

https://www.cbp.gov/trade/priority-issues/trade-agreements/free-trade-agreements/USMCA/FAQs

[–] foggenbooty@lemmy.world 29 points 4 weeks ago

I know, it's crazy how his supporters don't put two and two together. HE MADE THE TRADE DEAL HE'S SUPPOSEDLY GETTING SHAFTED ON!

[–] HellsBelle@sh.itjust.works 5 points 4 weeks ago* (last edited 4 weeks ago)

The USMCA was signed by Trump in 2018 (revised version signed in 2019). Implementation didn't occur until 2020.

https://en.m.wikipedia.org/wiki/United_States%E2%80%93Mexico%E2%80%93Canada_Agreement

[–] Kecessa@sh.itjust.works 14 points 4 weeks ago

"We don't need the products that they have but we might not tax oil coming from Canada... Because... We... Eeeh... Don't need it?"