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What do tariffs on Canadian goods have to do with me?

The effects of possible price increases due to tariffs on Canadian goods might hit you harder than you think.

As of today, the United States has placed a 25% tariff on everything we import from Canada and Mexico, as well as a 20% tariff on most Chinese goods. Canada has responded with retaliatory tariffs on over $100 billion worth of American goods entering Canada. 

Canada is the US’s second-biggest trading partner. The US exported $349 billion to Canada in 2024, about 17% of all US exports. The US imported $413 billion worth of goods from Canada in 2024.

Let’s take a look at all of the things you might encounter during a typical day that are likely to have been imported from Canada. They’re about to get more expensive. 

You sit down at your kitchen table with a cup of coffee and your morning newspaper and start reading about these new, steep tariffs. The paper in your hands was almost certainly printed on Canadian newsprint. 

🗞️ 99% of the newsprint imported to the US comes from Canada. 

You pour some sweet maple syrup on top of your pancakes. Don't use too much!

🍁 Almost 100% of imported maple syrup comes from our northern neighbors with the maple leaf on their flag.

What’s that delicious smell? Mmmm… bacon. Canadian bacon, actually.

🥓 98% of the Bellies (streaky) and cuts thereof of swine, salted, in brine, dried or smoked that we import comes from Canada. 

Off to work. You jump into your car, a 2024 Ford Edge. Your car probably crossed the US/Canadian border several times during its manufacturing process. NAFTA led carmakers to spread their supply chains across North America.

🚗 It turns out that 28% of your car was manufactured in the US and Canada, and it was assembled in Canada. 

Argh! The gas light is on. You better shop around for low gas prices. 

🛢️Canada is the largest source of imported petroleum to the US, totaling $96.5 billion in 2024. 

You settle in to work after arriving at your office. You haven’t even answered your emails when your phone rings with bad news. It’s the contractor you hired to do the extension on your house. Turns out that most of the lumber your contractor will use comes from Canada, and the estimate for the job just went up 25%. Great.

🪵 In 2024, 72% of construction lumber came from the Great White North. 

All of these price increases are stressing you out. After work, you meet up with a friend for some dinner at your favorite pub. You order a burger, fries, and a cold beer. You do a double take at the prices, which are 25% higher than your last visit. Then you realize that Canada is the largest source of beef imports to the US. 

🥩 Last year, the US imported $2.5 billion worth of fresh or chilled beef from Canada, making up 42% of overall imports.

As you bite into a crisp french fry, you ponder the spud’s origin. Yep, Canada again. 

🥔 86% of the volume of imported frozen french fries to the US comes from Canada. 

You start to crush the empty beer can in your hand in frustration, staring at the twisted metal… which reminds you that the US imported $11.3 billion worth of Canadian aluminum last year.

🍺 41% of imported aluminum came from Canada in 2024.

Then you start to wonder: what do we import from Mexico?

Source: United States International Trade Commission; Trade.gov.

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Microsoft makes dramatic shake-up to its gaming division as gaming CEO Phil Spencer and Xbox President Sarah Bond depart

Microsoft’s gaming division underwent a major shake-up on Friday, as the tech giant announced the departure of gaming CEO Phil Spencer, who led the division for 12 years and championed its Game Pass subscription service.

Xbox President Sarah Bond is also out, according to Spencer’s memo to employees.

Xbox has fallen significantly behind rivals Sony and Nintendo in recent years. Microsoft raised Xbox console prices twice last year and bumped subscription fees up 50%. In November, the console was even outsold (in unit sales) by the motion-controlled Nex Playground console.

The pair have overseen a shift at Xbox from standard consoles to an array of consoles, handhelds, and various devices and screens accessed via cloud gaming.

Spencer’s replacement as the head of gaming is Microsoft’s president of CoreAI product, Asha Sharma. In a memo to staff, Sharma made three commitments: great games, the “return of Xbox,” and to “invent new business models and new ways to play.”

Xbox has fallen significantly behind rivals Sony and Nintendo in recent years. Microsoft raised Xbox console prices twice last year and bumped subscription fees up 50%. In November, the console was even outsold (in unit sales) by the motion-controlled Nex Playground console.

The pair have overseen a shift at Xbox from standard consoles to an array of consoles, handhelds, and various devices and screens accessed via cloud gaming.

Spencer’s replacement as the head of gaming is Microsoft’s president of CoreAI product, Asha Sharma. In a memo to staff, Sharma made three commitments: great games, the “return of Xbox,” and to “invent new business models and new ways to play.”

business

Judge rejects Tesla’s attempt to overturn $243 million verdict over fatal 2019 autopilot crash

Tesla’s effort to appeal a $243 million jury verdict related to a fatal 2019 crash that occurred when a Tesla vehicle was in self-driving mode was rejected by a federal judge in a ruling made public on Friday.

Tesla is expected to appeal the decision to a higher court.

The case was the first federal lawsuit surrounding an autopilot death to go to a jury trial for Tesla. In August, a jury found the automaker 33% responsible for the 2019 crash. The jury determined that Tesla was partly to blame for enabling the driver to take his eyes off the road, and the company was ordered to pay an additional $200 million in punitive damages.

Tesla reportedly turned down a $60 million settlement offer prior to the trial. According to Electrek, dozens of similar cases involving the EV maker are working through the court system.

This month, Tesla stopped using the term “autopilot” in its marketing in order to avoid a sales ban in California. Tesla appears to have replaced the term with “Traffic Aware Cruise Control” and added “supervised” to its mentions of Full Self-Driving tech.

The case was the first federal lawsuit surrounding an autopilot death to go to a jury trial for Tesla. In August, a jury found the automaker 33% responsible for the 2019 crash. The jury determined that Tesla was partly to blame for enabling the driver to take his eyes off the road, and the company was ordered to pay an additional $200 million in punitive damages.

Tesla reportedly turned down a $60 million settlement offer prior to the trial. According to Electrek, dozens of similar cases involving the EV maker are working through the court system.

This month, Tesla stopped using the term “autopilot” in its marketing in order to avoid a sales ban in California. Tesla appears to have replaced the term with “Traffic Aware Cruise Control” and added “supervised” to its mentions of Full Self-Driving tech.

business

Sony is reportedly considering pushing the PlayStation 6 to 2028 or 2029 as AI RAM demand squeezes consumer electronics

AI’s ongoing need for more memory chips, which some are referring to as “RAMmageddon,” is reportedly shifting Sony’s plans for its next PlayStation console.

According to reporting by Bloomberg, the company is weighing a delay of the PS6 to 2028 or 2029 — a pivot from the company’s typical six- to seven-year console life cycle.

Memory costs could also result in Nintendo hiking the price of the Switch 2, per the report.

The report is part of a larger trend of AI demand impacting consumer electronics, including gaming equipment. Earlier this month, reports said that Nvidia will not release a new gaming graphics chip this year — a first. Steam owner Valve delayed its forthcoming Steam Machine console, and its popular Steam Deck handheld is currently unavailable for purchase in the US. Per Valve’s website: “Steam Deck OLED may be out-of-stock intermittently in some regions due to memory and storage shortages.”

Amid the AI memory squeeze, gaming stocks have also experienced major recent sell-offs following the release of Google’s AI interactive world-generation tool, Project Genie.

Memory costs could also result in Nintendo hiking the price of the Switch 2, per the report.

The report is part of a larger trend of AI demand impacting consumer electronics, including gaming equipment. Earlier this month, reports said that Nvidia will not release a new gaming graphics chip this year — a first. Steam owner Valve delayed its forthcoming Steam Machine console, and its popular Steam Deck handheld is currently unavailable for purchase in the US. Per Valve’s website: “Steam Deck OLED may be out-of-stock intermittently in some regions due to memory and storage shortages.”

Amid the AI memory squeeze, gaming stocks have also experienced major recent sell-offs following the release of Google’s AI interactive world-generation tool, Project Genie.

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