Canada has a lot at stake in tomorrow’s U.S. presidential election – particularly in the event of a Donald Trump victory, which could inject a wee bit of volatility into global trade.
That poses a major risk to the Canadian economy: More than 70 per cent of Canada’s exports go to the U.S. – worth around $650-billion in 2023. A large amount of business investment is premised on seamless access to the much larger market to the south, the reporters write. Ottawa and its economic allies might already have their hands full anyway. European Union officials are unprepared for a potential Trump-inspired tariff onslaught, which could trigger a global trade war,would roll back the Biden administration’s climate-friendly policies, which would have a significant impact on some states in particular.Economists don’t believe he’d hit Canadian oil with tariffs, but one of the only predictable things about Trump is that he can be, at times, unpredictable.
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