Canada used to have a ‘special’ relationship with its top trading partner – not any more
by Naomi Powell (feat. Eric Miller)
June 1, 2018
Canada’s quick retaliation to U.S. President Donald Trump’s latest volley in his “America First” campaign has raised fears of a trade war between two of the world’s friendliest allies – and thrown doubt on Canada’s long-held status as a favoured partner of the economic superpower.
Friday, Trump fired back at Canada over the retaliation against Washington’s steel and aluminum tariffs, and appeared to threaten possible action against Canada’s lumber industry.
The consequences of U.S. steel and aluminum tariffs for Canada’s economy are expected to be modest. The greater concern is the future of Canada’s relationship with its largest trading partner, said Benjamin Tal, deputy chief economist of CIBC World Markets.