Today, Canada's dollar-for-dollar counter-tariffs went into effect on more than $20 billion of U.S. imports following the breakdown in trade talks between the Canadian government and the Trump Administration last month.
Canadian Prime Minister Mark Carney addressed the matter in both English and in French. True to form, Carney spoke intelligently and in complete sentences. He also spoke of the opportunities and the costs. While Canada is pursuing greater trade relationships within Canada and with partners in Europe and Asia, the United States remain a large market and there will be pain. Carney didn't tell Canadians there would be so much winning.
Canadians have braced for impact and this evening the Trump Administration has announced bans on the import of Canadian alcohol and motorcycles along with 50% tariffs on molasses and motorboats to take effect at the end of the month. Canadian access to the U.S. government procurement programs will also be restricted.
But, for the moment, Carney has goodwill on his side as reflected by an approval rating of 70%. This isn't to say that approval won't fall if Canadians lose their jobs in earnest. But as long as Trump insists on saying "I don't want Canadian anything", demanding Canadian companies do business in the U.S. that already do business in the U.S. and renaming the Great Lakes and being the jerk he is then Canadians will stand with Carney.
Let me put it this way, Canadians are more likely to put up with the pain than Americans and this intolerance could soon be reflected in mid-term election results which will weaken Trump considerably. Should this come to pass, it will strengthen both Canada's stand and its resolve.
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