{"id":57000,"date":"2025-03-05T16:50:59","date_gmt":"2025-03-05T16:50:59","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/03\/05\/trumps-tariffs-are-woke-economics-confuse-americans\/"},"modified":"2025-03-05T16:50:59","modified_gmt":"2025-03-05T16:50:59","slug":"trumps-tariffs-are-woke-economics-confuse-americans","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/03\/05\/trumps-tariffs-are-woke-economics-confuse-americans\/","title":{"rendered":"Trump&#8217;s tariffs are &#8216;woke economics&#8217;, confuse Americans"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Trump\u2019s tariffs are punitive and restrictive, and high enough to cut off trade and run the U.S. into a recession. Give it six months<\/p>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Mar 05, 2025<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 51\u00a0minutes ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">5 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"043d3ee6-7dd1-4fbd-bba0-637f3338ea03\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Trump is changing America\u2019s mindset to make them believe tariffs will benefit America. Americans who once totally and vehemently opposed him are now coming onside without thinking, writes Jerry Klassen.<\/span> <span class=\"credit\">Photo by Andrew Harnik\/Getty Images files<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">All economists, whatever the political stripe, agree on one principle: disposable income increases when the individual household spends less of their income on food and energy. The standard of living decreases when these costs increase.<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">For example, a household that spends more on food and energy has less to put their children in hockey, piano lessons or travel. United States President Donald Trump\u2019s tariffs will increase the price of food and energy for the average American consumer, thereby lowering the standard of living. For the lower-income bracket of the population, tariffs are a consumption tax. This is the bottom line.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment2558588291609955474359456429506560\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"article-block article-block-bg article-content__sign-in-group hidden\" data-aqa=\"identity-sign-in\" data-async=\"\" id=\"article-block\">\n<section 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leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__registration_only hidden\">\n<p>THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account<\/li>\n<li>Share your thoughts and join the conversation in the comments<\/li>\n<li>Enjoy additional articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Economist Adam Smith wrote The Wealth of Nations in 1776, which coincidentally was the same year as the U.S.\u2019s Declaration of Independence. Some economists may not agree with the whole book, but there is one profound statement that all agree on.<\/p>\n<p>In every country, it always is and must be the interest of the great body of people to buy whatever they want from those who sell it the cheapest. The proposition is so very manifest that it seems ridiculous to take any pains to prove it. Nor could it ever be called in question had not the interested parties of merchants and manufacturers confounded the common sense of mankind. Their interests are directly opposite to the great body of people.\u201c<\/p>\n<p>To quote economist Milton Friedman, \u201cTariffs are very protective. Tariffs protect the consumer from lower prices.\u201d<\/p>\n<p>The interested parties that want tariffs are very concentrated. Let\u2019s use steel as an example because it\u2019s one of Trump\u2019s favourites.<\/p>\n<p>In the U.S., there are approximately 235 steel companies, but three companies produce 70 per cent of the steel. It\u2019s Pareto distribution. The three main players can meet in a hotel lobby and decide steel policy with Trump. Steel tariffs benefit the big three companies.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot16 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories5886197258288981625152276038418432\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 1600w\" alt=\"Top Stories\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/18.1.3\/websites\/images\/newsletters\/icon-fp-topStories.svg\"\/><\/div>\n<div>\n<p>Top Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_HeadlineNews\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment8153000438825524817787857429069824\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>The parties that don\u2019t want tariffs are spread out and have no voice. For example, if the price of a car increases because of higher steel prices, you will not have the time, effort or funds to lobby the government to lower the price of steel so that the price of cars drops.<\/p>\n<p>The parties that want tariffs will go through great lengths to confuse or confound the common sense of mankind, just like Adam Smith said. This is why I called tariffs woke economics. Tariffs are the reverse of common sense. Trump has cried out \u201cAmerica first, build in America, bring back jobs to America.\u201d It\u2019s always under the umbrella of job growth and protection, but neglects consumers, who are the larger party.<\/p>\n<p>The non-partisan Peterson Institute for International Economics estimates that the cost of the Trump tariffs for the average household will be about US$1,200.<\/p>\n<p>Since December 2021, the U.S. unemployment rate has been hovering near historical lows. U.S. wages during January 2025 were up 4.1 per cent from 12 months earlier. There were more than seven million job vacancies in the U.S. at the end of December 2024. U.S. corporations had record profits during the second, third and fourth quarters of 2024 as equity markets traded at or made fresh historical highs.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment9726378915730846423333002643767296\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>The trade policies that have been in place have been very good for Americans. However, Trump wants Americans to believe otherwise. According to him, the trade agreements that were in place have hurt Americans over the past few years.<\/p>\n<p>The truth is that Trump\u2019s trade policies will hurt the American consumer. Walmart Inc., Home Depot Inc. and Target Corp. have all raised concerns about weaker consumer spending, which comprises about two-thirds of U.S. gross domestic product (GDP).<\/p>\n<p>The Conference Board and the University of Michigan sentiment polls say consumer confidence is waning. The Federal Reserve Bank of Atlanta\u2019s GDPNow economic model projects U.S. first quarter GDP at minus 2.8 per cent. This comes after a solid eight quarters of stellar growth with GDP in the range of positive two per cent to four per cent.<\/p>\n<p>Trump\u2019s other fallacy has to do with the U.S. trade deficit or trade imbalances. The terms can be misleading. He believes that if a country imports more than it exports, this is unfavourable. According to him, the U.S. should export more than it imports.<\/p>\n<p>Let\u2019s look at this from a practical view. If a factory or a household sends out more than it brings in, the factory or household is worse off. Sending out more goods than are coming in is not feasible long term. Common sense tells us that it\u2019s more favourable when the factory or household brings in more than it sends out. This is wealth accumulation.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_5\">\n<section aria-describedby=\"advertisment711470947068013610316764465332224\" class=\"ad\">\n<p>Advertisement 5<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Tariffs erode wealth. Trade deficits or trade imbalance can have negative connotations, but that\u2019s not the case in economics and trade. A U.S. trade deficit with a specific country is not negative for the U.S. consumer.<\/p>\n<p>Trading nations are the most prosperous nations. Resources are put to their most efficient use when countries trade.<\/p>\n<p>Look at your breakfast; there are products from five countries. Look at your clothes; they come from all over the world. Trading builds wealth. Wealth is taxes, health care, the symphony, the arts, the roads, the bridges, food and everything in between.<\/p>\n<p>Trump\u2019s tariffs of 25 per cent are punitive and restrictive. These tariffs are high enough to cut off trade and run the U.S. into a recession. Give it six months.<\/p>\n<section aria-labelledby=\"moreTopicLabel9317533324414288765125864949022720\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" trump=\"\" heist=\"\" in=\"\" broad=\"\" daylight=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=5&sig=kSw8H3s2MrUpO3lZGpXxAA&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=5&sig=kSw8H3s2MrUpO3lZGpXxAA&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=5&sig=kSw8H3s2MrUpO3lZGpXxAA&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=5&sig=kSw8H3s2MrUpO3lZGpXxAA&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=5&sig=kSw8H3s2MrUpO3lZGpXxAA&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=5&sig=kSw8H3s2MrUpO3lZGpXxAA&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=5&sig=kSw8H3s2MrUpO3lZGpXxAA&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=5&sig=kSw8H3s2MrUpO3lZGpXxAA&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=5&sig=kSw8H3s2MrUpO3lZGpXxAA&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=5&sig=kSw8H3s2MrUpO3lZGpXxAA&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=5&sig=kSw8H3s2MrUpO3lZGpXxAA&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"No matter how chaotic Trump's flurry of actions, a bright thread holds them together. France's Louis XIV first summarized it as: \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=80&sig=oMk5unJS5qmPAOZWwazWig\" fifu-data-src=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=5&sig=kSw8H3s2MrUpO3lZGpXxAA&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=96&strip=all&quality=80&sig=oMk5unJS5qmPAOZWwazWig, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=192&strip=all&quality=80&sig=HPr1BPXJh8g10oxhabIdfg 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-trump.jpg?h=288&strip=all&quality=80&sig=fIahSQnRLEFgnVN-90UZwQ 3x\" c=\"\" class=\"lazyload\" elon=\"\" for=\"\" height=\"96\" it=\"\" l=\"\" loading=\"lazy\" me=\"\" might=\"\" moi.=\"\" now=\"\" state=\"\" that=\"\" to:=\"\" trump=\"\" update=\"\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">President Trump&#8217;s heist in broad daylight<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" time=\"\" for=\"\" some=\"\" tough=\"\" choices=\"\" canada=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=5&sig=sMd-x-lxwYrQoKtxeEvB-A&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=5&sig=sMd-x-lxwYrQoKtxeEvB-A&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=5&sig=sMd-x-lxwYrQoKtxeEvB-A&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=5&sig=sMd-x-lxwYrQoKtxeEvB-A&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=5&sig=sMd-x-lxwYrQoKtxeEvB-A&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=5&sig=sMd-x-lxwYrQoKtxeEvB-A&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=5&sig=sMd-x-lxwYrQoKtxeEvB-A&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=5&sig=sMd-x-lxwYrQoKtxeEvB-A&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=5&sig=sMd-x-lxwYrQoKtxeEvB-A&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=5&sig=sMd-x-lxwYrQoKtxeEvB-A&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=5&sig=sMd-x-lxwYrQoKtxeEvB-A&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"The status quo is gone, and we must act, not acquiesce. We must be firm, clear and convincing that Canada can and will stand up for itself and prosper, write Kevin Lynch and Paul Deegan.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=80&sig=M4RAsKtQpZUZ4C-deSgESg\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=5&sig=sMd-x-lxwYrQoKtxeEvB-A&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=96&strip=all&quality=80&sig=M4RAsKtQpZUZ4C-deSgESg, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=192&strip=all&quality=80&sig=NqFrcDfED9iVhjs6ozvQvg 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-canada.jpg?h=288&strip=all&quality=80&sig=nDK4OSZK0_VD3ZyOAceudw 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">It&#8217;s time for some tough choices, Canada<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" sets=\"\" right=\"\" tone=\"\" on=\"\" trump=\"\" tariffs=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=5&sig=4a-44n41nwjDby1-XSsG3w&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=5&sig=4a-44n41nwjDby1-XSsG3w&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=5&sig=4a-44n41nwjDby1-XSsG3w&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=5&sig=4a-44n41nwjDby1-XSsG3w&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=5&sig=4a-44n41nwjDby1-XSsG3w&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=5&sig=4a-44n41nwjDby1-XSsG3w&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=5&sig=4a-44n41nwjDby1-XSsG3w&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=5&sig=4a-44n41nwjDby1-XSsG3w&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=5&sig=4a-44n41nwjDby1-XSsG3w&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=5&sig=4a-44n41nwjDby1-XSsG3w&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=5&sig=4a-44n41nwjDby1-XSsG3w&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"While Trudeau may have delivered a powerful riposte, he is single-handedly responsible for weakening Canada over the past decade, writes Diane Francis.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=80&sig=ZNpfcJsUQIc6OthwuGZ6uw\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=5&sig=4a-44n41nwjDby1-XSsG3w&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=96&strip=all&quality=80&sig=ZNpfcJsUQIc6OthwuGZ6uw, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=192&strip=all&quality=80&sig=XG7BcxVcREUE8-QAqbVqMg 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0305-mg-justin.jpg?h=288&strip=all&quality=80&sig=dioF976daLorpCt0CW_aQg 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Trudeau sets right tone on Trump tariffs<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>Trump is changing America\u2019s mindset to make them believe tariffs will benefit America. Americans who once totally and vehemently opposed him are now coming onside without thinking. These types of organizations or institutions usually implode from the inside, just like Justin Trudeau and the Liberal Party.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_6\">\n<section aria-describedby=\"advertisment9269113690579886796153992643608576\" class=\"ad\">\n<p>Advertisement 6<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-6\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"6\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-6\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>After five quarters of negative GDP on a per capita basis, the Liberal Party decided it was time for a change in policy and leadership. We can only hope that the same happens south of the border.<\/p>\n<p><em>Jerry Klassen has been a commodity trader for 30 years. From 2010 to 2019, he was chief executive of Canadian operations for Swiss-based GAP SA Grains &amp; Produits Ltd. He was chair of the Grain and Oilseed Exporters Association for four years from 2017 to 2021.<\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Trump&#8217;s tariffs are &#8216;woke economics&#8217;, confuse Americans<\/a><br \/>\n<br \/>2025-03-05 16:50:59<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links Economy Trump\u2019s tariffs are punitive and restrictive, and high enough to cut off trade and run the U.S. into a recession. Give it six months Published Mar&#8230;<\/p>\n","protected":false},"author":2,"featured_media":57001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/0306-mg-tariffs.jpg?quality=90&strip=all&w=288&h=216&sig=GBFqs54Gx2iR-9zErmukcw","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-57000","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/57000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=57000"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/57000\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/57001"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=57000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=57000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=57000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}