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Wall Street Breakfast
Canada ready to counter Trump tariffs
Jan 13, 2025
Canada is poised to unleash counter-tariffs in response to potential trade actions from Trump. Meanwhile, Europe’s largest pension fund has sold its shares in Tesla following concerns over Musk's compensation. In another twist, the White House has postponed a decision on Nippon Steel's pursuit of U.S. Steel amid market uncertainties. Add to this the shifting landscape with global selloffs prompting advice to buy bonds, and the looming TikTok ban sparks Supreme Court debates on free speech.
05:45
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Quick takeaways
- Canada is poised to enact counter-tariffs if the U.S. imposes tariffs on Canadian imports, reflecting the importance of bilateral trade relations.
- The Dutch pension fund's divestment from Tesla highlights growing concerns over executive compensation and worker rights amidst rising scrutiny of corporate governance.
Deep dives
Canada's Response to Potential Tariffs
Canada is preparing to respond with counter tariffs if the incoming U.S. administration proceeds with its threat to impose tariffs on Canadian imports. Prime Minister Justin Trudeau stated that while Canada does not seek a trade conflict, it will have to retaliate if these tariffs are implemented. This potential trade fight arises amidst significant trade relations between the U.S. and Canada, which feature a highly integrated energy and automotive market. Notably, Canada imports more goods from the U.S. than any other country, totaling approximately $322 billion in the first 11 months of the previous year.
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