Discussions on X regarding tariffs proposed by US President-elect Donald Trump intensified between 20 November and 5 December 2024, with a focus on two distinct policy proposals. One proposal involved a 25% tariff on goods from Canada and Mexico, conditional upon their actions against illegal immigration and fentanyl trafficking. The second proposal is a 100% tariff on BRICS nations should they adopt a rival reserve currency to the US dollar. These proposals elicited varied responses among influencers on X and raised substantial concerns about potential economic repercussions, reveals the Social Media Analytics Platform of GlobalData, a leading data and analytics company.
Shreyasee Majumder, Social Media Analyst at GlobalData, comments: “Influencer sentiment regarding the proposed tariffs on Canadian and Mexican goods was overwhelmingly negative during the last week of November. Many argued that these measures would inevitably raise prices for American consumers, harming their purchasing power and potentially triggering inflationary pressures.
“Furthermore, influencers highlighted the potential for significant harm to businesses and industries reliant on imports from these countries, particularly in the agricultural and automotive sectors. The implications, according to influencers, could include economic slowdowns in both the US and its North American partners, as well as job losses in affected sectors.”
Influencers also predominantly expressed negative sentiment toward the 100% tariff targeting BRICS nations. The discussions highlighted rising consumer prices, import-dependent industry burdens, risks of trade wars, and alternatives to the US dollar challenging the US-led financial system. The possibility of retaliatory measures from affected nations was also identified as a potential threat to the economic stability of the US.
Below are a few popular influencer opinions captured by GlobalData’s Social Media Analytics Platform:
“25% tariff on all Canadian imports will devastate gas prices. Keep in mind that the majority of US-produced domestic oil cannot be easily refined in the U.S.— we actually export “light”/“sweet” crude and instead import “heavy” crude to use in U.S.—ergo tariff penalty==>gas price”
“I joined @ABC to discuss the wide-reaching impact of Trump’s proposed tariffs. These measures will likely raise prices for consumers while straining industries and business sectors reliant on imports, creating challenges across the economy. #USecon”
“To be clear, according to Trump the 25% tariffs will not be implemented, or if implemented will be removed, once Mexico and Canada stop the flow of illegal immigrants and fentanyl into the U.S. In other words, @realDonaldTrump is going to use tariffs as a weapon to achieve economic and political outcomes which are in the best interest of America, fulfilling his America first policy. This is a great way for Trump to effect foreign policy changes even before he takes office.”
“if you take Trump’s threat to put a 25% tariff on all Canadian goods seriously, one of the first results would be an immediate increase in gas prices, especially in the midwest—Canadian pipeline-transported crude feeds key refineries throughout the US”
“Donald Trump announced Saturday he would impose a 100% tariff on BRICS nations if they try to replace the dollar in international trade. 1. The fact Trump feels entitled that the world must keep using the dollar against its own interest shows he’s deranged. 2. Trump’s announcement will work counterproductive as sovereign states don’t want to be enslaved by a weaponized dollar.”
