Eh, I don’t think it will increase tensions. Carney’s spoke about this today while in Malaysia IIRC, and he said what he’s said before. That he can’t control the US, so he doesn’t bother worrying about that, that he can control what happens in Canada, so he’s focused on that…including increasing ties with Asian economic powerhouses like where he’s visiting today.
In other words, Carney doesn’t care about Trump’s daily rant anymore. We’re proceeding under the assumption of irrationality from the US.
The US is humped going forward. All the international trade is being redrawn outside of and around the US. The paths are being laid down. And once they’re in place, the US won’t be able to just reroute them. e.g. if Canada strikes a deal with China over EV cars, and we start manufacturing them here in exchange for sending them our agricultural products,then in 3-4 years the US isn’t going to get far saying 'hey, we should start manufactring Chrysler’s in Windsor again. Uh, thanks, but those folks are busy making China’s EV cars.
So the USA has apparently resolved its soybean issue with China? Too bad for Canada as we are still subject to 100% tariffs on OUR soybean exports to China which was retaliation by China for Canada supporting the US on ITS tariffs on China. We can’t break our trade ties with the US soon enough so we can have freer trade with China and others. Trading with the US is a mug’s game.
So the USA has apparently resolved ITS soybean issue with China? Too bad for Canada as we are still subject to 100% tariffs on OUR soybean exports to China which was retaliation by China for Canada supporting the US on ITS tariffs on China. We can’t break our trade ties with the US soon enough so we can have freer trade with China and others. Trading with the US is a mug’s game.
As much as I’m sure the tariffs will have a horrible effect, companies love to make use of excuses for sucky management decisions or just unpopular decisions. So I wouldn’t be surprised to find that plans for the 150 stores extend back before the tariffs. Similar to what happened with minimum wage a little while back, where the closures because of minimum wage occurred before the change in minimum wage went into effect. Or Amazon blaming the cut of 30,000 jobs on covid today.
Largely symbolic (rescinding Trump’s clearly illegal and politically motivated tariffs on Brazil) but I assume the price increases due to the tariffs (coffee specially) are starting to sting.
Some car production has shifted back to the US from Canada. I am not sure how long those jobs will last as the export market for US-made cars will shrink.
This article summarizes Canada’s best hope for its own car manufacturing: Chinese investment. The more likely scenario in my mind is that car manufacturing in Canada will decline until it disappears.
I can see certain provinces (Quebec specially) propping up car production with heavy public subsidies for quite a while. The end result will be an uncompetitive industry with lots of money spent fairly uselessly.
