The Big Story How short-sighted was Trump's Liberation Day?
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Apr 6, 2025 Randall Bartlett, Chief Deputy Economist at Desjardins, dives into the fallout from Trump's 'Liberation Day.' He analyzes the chaotic impact of recent tariff announcements on American and Canadian markets. The conversation highlights how Trump's policies may backfire, increasing consumer prices while dismantling international trade relationships. Bartlett also examines rising job losses in Canada and the looming recession threat, as well as challenges faced by the Bank of Canada in navigating interest rates amidst persistent inflation.
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Trump's Trade Policy
- Trump's approach to trade policy is unusual, directly challenging the global system.
- This approach may harm both U.S. and global citizens, impacting financial markets.
Populist Politics and Business
- Trump's focus on populist politics includes antagonizing large U.S.-based companies.
- He prioritizes his voter base, disregarding CEOs, investors, and the affluent elite.
Unclear Trade Strategy
- Trump's trade strategy is unclear, causing market uncertainty due to contradictory signals.
- The lack of transparency makes it difficult to predict his next move.