The Big Story Weekend Listen: Deal or no Deal? How U.S. Trade talks will determine Canada's 2026 economy
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Jan 10, 2026 James McCann, a Senior Economist at Edward Jones, shares insights on the turbulent economic outlook for Canada in 2026. He analyzes how U.S.-Canada trade talks will shape the future, and the implications of Venezuela's oil situation on Canadian energy. McCann discusses the cautious approach to diversify energy markets and the impacts of potential interest rate decisions from the Bank of Canada. He also offers investment strategies uniquely suited for Canadians, including sectors like gold, AI, and mid-caps.
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Venezuela Reaction Was Overstated
- Markets initially priced Venezuela's arrest as a big oil supply win before reality checks set in.
- James McCann says unlocking Venezuela's heavy crude is complex, costly and slow.
North American Trade Links Are Sticky
- Canada cannot quickly diversify away from the U.S. due to entrenched trade ties and geography.
- McCann argues three quarters of Canadian exports go to the U.S., so near-term change is unlikely.
Brexit Parable About Diversification
- McCann uses his UK background and Brexit experience as an example when discussing trade diversification.
- He warns that trying to rapidly shift trade patterns is difficult, citing the UK's struggle post-Brexit.