Art of the Tariff: What Trump Wants from Canada and Implications of a Global Trade War

Aaron Ettinger 01:39-12:45 01:39 Making sense of Trump's thinking and the rationale for tariffs 06:42 Does Trump really want to annex Canada or is he trolling? 08:31 What strategies can Canada pursue to hedge against tariffs and protect itself economically? Dan Ciuriak 13:05-37:01 13:05 How the United States views tariffs, how tariffs fit into US economic strategy, and bringing back manufacturing to America 19:36 Implications of tariff war on Canada, North American economy and trade, on the bilateral relationship, how Canada can respond, and lessons learned from Trump's first term 28:36 Tariffs in a historical context, how the US-Canada relationship will move forward, the impact of tariffs on the American economy, and how the tariff dispute will end Douglas Porter 37:38-52:39 37:38 Long-term implications of a tariff war for Canada 39:03 What industries are most at risk in a trade war with the United States? 40:23 How would a tit-for-tat tariff escalation impact consumers in North America? 42:25 How do tariffs or the threat of tariffs impact the budget and government spending? 44:09 Impact on the North American economy broadly and how businesses can navigate 46:22 Can Canada seize this moment to become more economically self-sufficient and diversify its trade relationships, and what does it mean for the US-Canada relationship? 50:23 How Canadians and Canadian leaders can weather the storm Érick Duchesne 52:58-1:11:06 52:58 Strategies for Canadian economic diversification or "de-risking" from the US 57:03 The rationale and effectiveness of tariffs 1:00:54 How a tariff war could play out and consequences for the US economy 1:05:11 The state of American power and global leadership, global trade realignments, and the impact of US isolationism In today’s Expert Series episode, we meet with Dr. Aaron Ettinger, Dan Ciuriak, Douglas Porter, and Dr. Erick Duchesne to discuss U.S. tariffs on Canadian exports, including the potential for broader tariffs on non-energy goods, as well as the ongoing negotiations between Canadian officials and U.S. policymakers. The panel explores the economic nationalism driving U.S. tariff strategies and Canada’s responses, which include efforts to diversify trade relationships, retaliatory tariffs, and strengthening its economic resilience. Together, our guests examine the potential impact on key sectors in Canada and consider the broader global implications of these tariffs, including how they may contribute to a shift toward protectionism and alter global trade dynamics. As a whole, this discussion highlights the challenges Canada faces in reducing its reliance on the U.S. market while navigating an increasingly fragmented global economy. CDA INSTITUTE ➡️ LinkedIn: https://www.linkedin.com/company/cdainstitute/ ➡️ Twitter/X: https://x.com/CDAInstitute 📬 Visit our website and subscribe to our newsletter to receive the latest defence and security updates delivered to your inbox: https://bit.ly/4fQ2wDV