Trump's trade war is upending global economy
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Recent polling shows a significant decline in the United States’ global reputation, and that’s showing up in how people outside the U.S. are shopping. This is especially true in Canada, where anti-American backlash is changing consumer and business behavior.
U.S. Ambassador to Canada Pete Hoekstra told the audience of major business and political figures that the U.S. is "open for business" — even as President Donald Trump digs in on his claim that he will not lift tariffs on Canada,
Donald Trump's trade policies have significantly reshaped commodity markets, prompting Canada to redirect its seaborne crude exports towards China, even after the US dropped proposed tariffs. This shift highlights a desire to diversify markets and reduce reliance on the US Meanwhile,
While many Canadian companies are hurting because of the trade war, some are booming as clients look for ways to avoid doing business in the U.S.
If there is a law of unintended consequences, then a good example is how commodity markets are adjusting to both the realities and the perceived threats of the tariff war launched by U.S. President Donald Trump.
The trade dispute with Canada’s closest trading partner is hitting the labour market and household consumption. Economists now say unemployment will rise to 7.2 per cent in the second half of the year before easing in 2026.