Trade
February 12, 2025
Update on U.S. Steel and Aluminum Tariffs
The White House has announced the restoration of Section 232 Tariffs on Steel and Aluminum that were originally imposed in 2018. The rate on steel will return to the 25% implemented in 2018, while the rate on aluminum will rise to 25%, from 10% previously.
January 28, 2025
Potential Hazards Ahead: Trade Risks in the North American Automotive Industry
The automotive industry accounts for over 10% of intraregional trade in North America, equating to hundreds of billions of dollars in cross-border trade flows and millions of jobs. Proposed blanket tariffs of 25% on Canada and Mexico, if retaliated against in equal measure, would likely result in a material contraction in vehicle sales in all three North American nations as price increases would ripple through supply chains.
January 21, 2025
Canada-U.S. Trade Relationship Infographic
Infographic that explores the strong trade relationship between Canada and the United States. Canada is the largest export market for the U.S., while maintaining a small trade deficit. Additionally, Canada is a net importer of $5 billion in U.S. automotive products, highlighting the deep economic ties between the two nations.
January 21, 2025
Setting the Record Straight on Canada-U.S. Trade
In addition to border security concerns, Trump has argued that “the United States can no longer suffer the massive trade deficits that Canada needs to stay afloat,” claiming that the U.S. subsidizes Canada to the tune of US$200 billion annually. How “massive” is the deficit and is there validity to this claim of subsidization?
January 17, 2025
Ready or Not, Here He Comes
Donald Trump will be inaugurated on Monday, and Canadians are bracing for the economic threats in recent weeks to turn into action through a flurry of executive orders. To assess the magnitude of this threat, here are the areas of economic growth and jobs most at risk on Trump’s return to the White House.
November 06, 2024
Markets Brace For Higher Inflation and Interest Rates Under President Trump
As of 11 AM ET, Donald Trump has secured 277 of the 538 Electoral College votes, becoming the 47th president. While ballots are still being counted, President Trump also looks to have won the popular vote, which has not happened for a Republican president since George W. Bush in 2004.
October 24, 2024
Trump Tariffs: A Trade Canada Doesn’t Want
The U.S. election is around the corner and it’s still anybody’s guess as to who will take the win. In this report, we’ll focus specifically on what Trump’s tariff proposal – notably a 10% across-the-board levy on U.S. imports – could mean for Canada’s economy.
September 13, 2024
U.S. 2024 Election: Economic and Financial Implications
Elections matter for the economy, but financial markets are likely to be particularly attuned to the current election cycle given America’s unsustainable fiscal trajectory. The make-up of Congress will determine how much of the future President’s agenda can be implemented. A divided Congress will likely force the next President to make significant concessions relative to their current platform proposals.
