Publications: Notes at the Margin

The G1 Strikes: Decimating the World Economy (April 7, 2025)

 

This Notes at the Margin covers two topics. We first address the trade actions of the United States “Dear Leader,” Donald Trump. We follow that with thoughts on the steps Canada could take to thwart Trump. Regarding the latter, we note that Canada has significant leverage over the US that it could use to break our economy. This lever, linked to the United States’ dependency on imports of Canadian oil, gas, and electricity, far exceeds the tariff power applied against the Canadians by President Trump. This power, if used, would constitute “Mutually Assured Economic Destruction.” Despite the risk, Prime Minister Carney might use it to assure his party’s overwhelming victory at the polls on April 28. Its application could also strengthen oil prices, which could ultimately benefit Canadian producers.

 

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