During a Nevada rally, President Trump endorsed a proposal to eliminate all federal income taxes. This suggestion followed a crowd member’s request to suspend all federal taxes, prompting Trump to propose funding the government solely through tariffs on imported goods. He cited a historical period without income tax, suggesting tariffs could generate sufficient revenue. Trump argued this system, while not without drawbacks, led to a period of great American prosperity.
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Canadian Foreign Minister Mélanie Joly warned that President-elect Trump’s threatened 25% tariff on Canadian goods would result in a “Trump tariff tax” for Americans. Canada plans retaliatory tariffs, targeting key American industries and products, should the tariffs be imposed. This action risks significant economic harm to both nations, impacting sectors such as autos, energy, and agriculture, with Canada prepared for a substantial response. The potential economic fallout is substantial, impacting both GDP and numerous American jobs, as highlighted by both Joly and former finance minister Chrystia Freeland.
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Following meetings in Washington, D.C., Foreign Affairs Minister Melanie Joly briefed Canadian first ministers on January 15th, 2025. The update focused on Canada’s ongoing efforts to mitigate the impact of U.S. tariffs. These Washington meetings covered key areas of border security, trade, and investment. Minister Joly’s report aimed to inform the first ministers on the progress made in addressing these crucial bilateral issues.
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John Q. Hosedrinker