The Decibel What Trump’s trade deals could mean for Canada
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May 15, 2025 Mark Rendell, an economics reporter for The Globe's Report on Business, dives into the implications of recent U.S. trade deals with Britain, China, and the Middle East. He discusses how these agreements impact Canada's economy, especially in the auto industry and under the USMCA framework. Rendell breaks down the details of the new tariffs and their potential risks, as well as the challenges Canada faces amidst evolving trade negotiations. Expect insights on market reactions and the complexities of global trade dynamics.
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Devastating Impact of High Tariffs
- Triple-digit tariffs between the US and China effectively destroy profitable trade.
- The recent huge reduction in tariffs marks a major de-escalation of the trade war.
Trade War's Economic Damage
- The trade war disrupted supply chains and caused fears of product shortages and inflation.
- A continued trade war risked stagflation and recession in both the US and China.
Fragile 90-Day Truce with China
- The 90-day tariff truce between the US and China is fragile and may end if talks fail.
- The remaining 30% tariffs still heavily disrupt trade, especially on low-margin goods.