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The Big Story

Are we entering another trade war?

Nov 26, 2024
In this engaging discussion, Ian Lee, an Associate Professor at Sprott School of Business, shares insights into looming trade tensions. He analyzes the implications of potential new tariffs from the U.S. and how they could reshape North American trade agreements. Ian explores the impact on small businesses, the interconnection of trade and immigration policies, and calls for Canada to enhance its negotiation strategies. The conversation dives into the urgency for Canada to secure favorable terms amidst a rapidly changing political landscape.
21:29

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Podcast summary created with Snipd AI

Quick takeaways

  • The proposed 25% import tariff by the incoming U.S. president is indicative of a strategic shift in North American trade dynamics.
  • Increased tariffs could jeopardize Canada’s economy, disrupt supply chains, and necessitate urgent negotiations to protect trade access.

Deep dives

The Impact of Proposed Tariffs on North American Trade

The potential implementation of a 25% import tariff by the incoming U.S. president on Canadian and Mexican goods has raised significant concerns regarding the dynamics of North American trade. This decision appears to be a strategic move rather than an impulsive threat, aiming to reshape trade negotiations and policies between these nations. The tariffs could not only undermine existing trade agreements but also signal a shift towards a more aggressive U.S. trade policy, where economic motivations might intertwine with other issues like border security and illegal drug trade. Such a scenario could drive both Canada and Mexico into a defensive position, prompting immediate negotiations to safeguard their economic interests and access to the U.S. market.

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