Let's call the tariffs what it is: a tax on the Americans, not an assault on foreign countries. Sure, it can have an effect on certain Canadian businesses (still haven't seen a lot as of now, just people spreading fear), but it just put to light our vulnerabilities, and we should concentrate on patching them up rather then pleading with our neighbor:
I know what you are talking about. Canada with it's expertise and resources should be more immune to economic blackmail, but isn't. I put that down to the stupidity of the controlling interests, both political and business self serving lacking vision ever the past decades. Maybe even as far back as Diefenbaker when he cancelled the advanced Acro Arrow over a few million bucks.
Problem with Canada is that it is spread out east-west, right next to the US, and the population is concentrated within the corridor 200 miles from the Canada-US border, and lack of capital.. It's much easier to trade with the US and the Mulroney-Reagan NAFTA deal 1994 promoted that trade , raising the standard of living in
both countries, something that Trump does not acknowledge.
Due to NAFTA, the Auto Pact, those being the most well known and impacting the Canadian economy the greatest, Canadian companies and politicians had an easy route to prosperity, and thus neglected nation building and market diversification nationally as well as internationally. But they did try - remember senior Trudeau's attempt to bring in several Japanese and Korean car companies into Canada ( Hyundai Bromont 1989, but export to the US was hindered due to US tariffs on non Auto Pact vehicles as one of the reasons that led to the plant closure some 5 years later ).
Canadian banks, and to an extent private enterprise , were/are somewhat averse risk to investment within Canada. The Quebec James Bay Hydro project was financed through NY, probably because it took up less of a liability on their balance sheet, but more importantly, they could see the potential.
Since the small Canadian market is quickly saturated, growth naturally means expansion to the south -Tim Hortons, CN, Jean Coutu are a few Canadian companies that have enjoyed success through this route. ( Tim Hortons' present difficulties are due to an overbearing venture capital firm ). Carney's Brookfield Asset Management ( $ 1 trillion ) moved its head office from Toronto to NY 2024 to go where the money is, to be closer to its investments and investors.
The one province taking most of the brunt of the Trump administration agenda is Ontario, which can explain Doug Ford's dislike, and his ranting and raving. How to explain to his fan base the loss of their jobs. Just recently, according to Howard Lutnick, and expressed at the Trump Carney meeting, the Aito Pact is dead - US cars to be made in the US, others suffer tariffs. Thus a potential elimination of up to 86,000 Ontario manufacturing jobs ( that must be manufacturing, assembly, and support related such as trucking 80% o the vehicles to the US ) ( Quebec auto sector lost hers, year 2000-ish( the giant GM plant on HWY 15 ST Therese shuttered for good ). To be seen where thus leads in the immediate future.
The heavy duty truck tariff of 25% will hit Quebec's Peterbilt plant St Therese exports to the US. 1000 workers in jeopardy. And this has had the
immediate affect of increasing truck prices in the US. The US could not compete, but with a 25% tariff maybe now they can when an up and running a new US plant exists.
That's just a bit of the US-Canada economic-policy-treaty-finance integration that has people worried.
ca.news.yahoo.com
