Trump doubles down, threatens NEW 50% tariff on China (on top of everything else)

Truth Social.com ^ | 4/7/2025 | Donald Trump

[mn-bush-man]

The recent stock market moves are insignificant (1) against other corrections, recessions, bear markets and (2) are a natural consequence of taking steps to protect our future, rather than maintaining the status quo and being bilked into a spiral toward second and third world status like has been the case for decades. Screw the recent stock market moves. There should be far more concern about protecting our grandchildren and the generations that follow.

[MalPearce]

That’s not true either. They DO allow it, but the American banks aren’t that interested.

Any American bank, or indeed any international bank, can operate in Canada if it plays by Canada’s rules. Those rules are totally uncontroversial, and they’re reciprocal. L

Would the USA allow a foreign bank that refuses to comply with even the bare minimum of American banking regulations, to compete at large scale with banks that are compelled to toe the regulatory line? You wouldn’t want Shari’a banks undercutting American banks... Same principle applies in Canada as in the USA. “You can play here, so long as you’re prepared to play by our rules not your rules.”

Rule 1: it’d needs to establish a Canadian subsidiary or receive special government permission to do business. How’s that any different to Trump saying that businesses looking to avoid trade barriers in the USA can set up subsidiary businesses inside the USA, or get some other dispensations?

Rule 2: Canada’s stringent banking rules include having physical banking presence (ie banks you can actually visit in person). Again, hardly objectionable for anyone in the USA who doesn’t trust online-only banks.

Rule 3: Banks should have a hefty sum of cash-like assets in reserve. Totally sensible given that nobody wants another Lehman Brothers level fiasco.

Exactly what is objectional there, unless you don’t mind banks being at risk due to sub prime lending and having no idea what their customers look like?

[nwrep]

Thanks.