Yesterday, President Trump backed off on imposing tariffs against Canada and Mexico for 30 days after agreeing to pledges for increased border protection from both countries - something both had offered and Trump had previously refused.
But Trump will be back to bully Canada and Mexico again soon. Indeed, Trump hinted his next area of focus when he falsely stated Canada prohibited U.S. banks from doing business in Canada. Nonsense!!! There is plenty of U.S. financial institutions which engage in commercial banking north of the border.
U.S. banks do not engage in retail banking in Canada and the only Canadian bank which does retail banking in the U.S. is the TD Bank which began doing business in the Northeast about 20 years ago. When I moved to the U.S., there was no CIBC retail bank so I opened a Bank of America account.
The point here is that while Trump might not impose tariffs against Canada and Mexico now or ever, he will continue to belittle and bully Canada and Mexico. In Canada’s case, it will be the 51st state and why America doesn’t need Canada for anything. In which case, Canada and Mexico will respond in kind - again.
The question is how much the American voter likes it. Well, perhaps not so much if Elon Musk withholds Social Security and Medicare payments. But if one is not directly affected one might think, “Better that Trump punish Canada and Mexico as long as he doesn’t come after me,” even if it results in higher prices and fewer jobs.
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