James Moore: Canada must keep calm amid this trade chaos and uncertainty
BNN Bloomberg
Former cabinet minister James Moore says despite ongoing trade uncertainty, time is increasingly on Canada's side as U.S. President Donald Trump's tariff regime is collapsing after a Supreme Court ruling.
When it comes to where Canada is positioned regarding U.S. President Trump’s tariff and trade policies, it seems increasingly clear that time is on Canada’s side. That is a difficult thing to assert when I know that our business and investment interests, consumer confidence, trade-dependent firms and their workers are all craving stability in the Canada-U.S. relationship on trade and tariffs.
But it seems the landscape may be shifting in Canada’s interests when we analyze last week’s U.S. Supreme Court majority decision on President Trump’s tariff policy approach and the economic and political landscape that is tilting against the Trump agenda.
It has been nearly a week since the 6-3 majority decision of the U.S. Supreme Court to strike down President Trump’s use of the International Economic Emergency Powers Act (IEEPA) to impose tariffs at his discretion.
After several justices of the court seemed skeptical and dubious of the Trump administration’s arguments in November in defence of the president’s use of the IEEPA tariff powers, the ruling that President Trump was acting unconstitutionally was not entirely unexpected.
However, one consequence of the decision was the acceleration of the erosion of public confidence in the tariff policy broadly and the credibility of President Trump personally when it comes to his handling of the economy. And make no mistake, if Donald Trump’s first and second term have any overarching signature policy emphasis, it is tariffs and the president’s obsession with their use as a force for economic renewal, reorganization, government revenue and flexing tactical political strength abroad.
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Prime Minister Mark Carney is again heading overseas, this time to Norway to observe NATO Cold Response exercises as Canada deepens ties with Nordic countries.
The Canadian Security Intelligence Service says the threat level in Canada from Iran or its proxies has not changed since the war in Iran began nearly two weeks ago, while adding that threat-related activities are “likely to continue.”
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Prime Minister Mark Carney announced Sunday the date for three upcoming byelections.
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Scott Moe says Canada needs to separate its trade talks from its national security concerns when dealing with certain countries if it is serious about diversifying trading partners beyond the United States.
Prime Minister Mark Carney has landed in Japan on the final stop of a 10-day trip that also included Australia and India.
Prime Minister Mark Carney has landed in Japan on the final stop of a 10-day trip that also included Australia and India.
Prime Minister Mark Carney has landed in Japan on the final stop of a 10-day trip that also included Australia and India.
Prime Minister Mark Carney has landed in Japan on the final stop of a 10-day trip that also included Australia and India.
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