May 23, 2025 – Canada must take a strategic approach combined with clear tactics as it heads toward a full renegotiation of the Canada-United States-Mexico Agreement (CUSMA) in 2026, according to a new Communiqué from the C.D. Howe Institute’s Trade Crisis Working Group. The expert group, which met on May 16, warns that Canada cannot […]
To: Trade war watchersFrom: Lawrence HermanDate: May 22, 2025Re: Reforming Canada’s Trade Remedy System for Turbulent Times In four short months, Donald Trump’s second presidency has disrupted the circulatory system of global trade. In addition to the toll so far and potential further costs of his tariff war, which has closed off the US market to […]
From January to April 2025, employment declined significantly in several trade-exposed sectors, with manufacturing alone shedding over 42,000 jobs. Notable losses were also seen in agriculture and business support services. These declines suggest early impacts of rising trade tensions, particularly in industries tied to cross-border supply chains and export markets. In contrast, more domestically oriented […]
To: Trade war watchersFrom: Brenda González-HermosilloDate: May 15, 2025Re: Trump’s Tariffs have Wide Global Implications The world economy and financial markets are at their highest level of stress since the 2008 global financial crisis and the COVID-19 shock. The narrative is largely focused on the impact of frequently modified announcements of large US tariffs on specific […]
Published in Financial Post. In the furore around the on-again, off-again Trump tariffs, it sometimes gets lost that the international trade of goods has implications for international financial transactions and therefore for exchange rates, too. In general, a weaker currency makes a country’s imports more expensive and its exports cheaper. The U.S. dollar is down […]
To: Trade observersFrom: Lawrence HermanDate: May 13, 2025Re: Good Vibes but Lots of Fog After the Oval Office Visit There was lot of attention in foreign circles to Mark Carney’s visit with Donald Trump, reflecting avid international interest as to how the PM would handle Mr. Trump, given the unprecedentedly tense, adversarial relationship between the two countries. […]
May 8, 2025 – As the Trump administration escalates waves of auto tariffs – reigniting trade tensions and upending cross-border supply chains – Canada must act decisively to defend its auto sector and reassert its place in North American manufacturing, according to a new report by the C.D. Howe Institute. In “Back to the Future? […]
Back to the Future? Canada’s Auto Strategy The Trump administration’s auto tariffs threaten Canada’s internationally competitive vehicle manufacturing sector, encouraging production to shift south, causing inefficiencies and damaging North American competitiveness. This report proposes a modernized Auto Pact that would allow tariff-free vehicle imports from countries with which Canada does not have a free trade […]
To: Trade war watchersFrom: Jon JohnsonDate: May 2, 2025Re: Judicial Challenges to Trump’s IEEPA Tariffs – Time for Congress to Act The Trump administration has issued 13 executive orders under the International Emergency Economic Powers Act (IEEPA) imposing tariffs based on alleged national emergency concerns, including: Declaring an America First Trade policy addressing “unfair and unbalanced […]
From: Harvey NaglieTo: Trade war watchersDate: April 24, 2025Re: Reimagining Canada’s Trade Strategy in Response to US Pressures The C.D. Howe Institute’s report on Canada’s response to intensifying US trade pressures offers a pragmatic blueprint centered on economic de-risking, strategic diplomacy, and safeguarding existing trade frameworks like CUSMA/USMCA. Its recommendations – strengthening economic foundations, restrained retaliation, support for tariff-affected […]
Canada is largely following our Trade Crisis Working Group’s strategy. But how do we implement massive changes to the country’s interprovincial trade, expand globally, and improve productivity while negotiating with a president who doesn’t respect his own trade agreements? Co-chairs Mitzie Hunter and Jason Kenney explain.
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To: Trade war watchersFrom: Lawrence HermanDate: May 22, 2025Re: Reforming Canada’s Trade Remedy System for Turbulent Times In four short months, Donald Trump’s second presidency has disrupted the circulatory system of global trade. In addition to the toll so far and potential further costs of his tariff war, which has closed off the US market to […] 
From January to April 2025, employment declined significantly in several trade-exposed sectors, with manufacturing alone shedding over 42,000 jobs. Notable losses were also seen in agriculture and business support services. These declines suggest early impacts of rising trade tensions, particularly in industries tied to cross-border supply chains and export markets. In contrast, more domestically oriented […] 
To: Trade war watchersFrom: Brenda González-HermosilloDate: May 15, 2025Re: Trump’s Tariffs have Wide Global Implications The world economy and financial markets are at their highest level of stress since the 2008 global financial crisis and the COVID-19 shock. The narrative is largely focused on the impact of frequently modified announcements of large US tariffs on specific […] 
Published in Financial Post. In the furore around the on-again, off-again Trump tariffs, it sometimes gets lost that the international trade of goods has implications for international financial transactions and therefore for exchange rates, too. In general, a weaker currency makes a country’s imports more expensive and its exports cheaper. The U.S. dollar is down […] 
To: Trade observersFrom: Lawrence HermanDate: May 13, 2025Re: Good Vibes but Lots of Fog After the Oval Office Visit There was lot of attention in foreign circles to Mark Carney’s visit with Donald Trump, reflecting avid international interest as to how the PM would handle Mr. Trump, given the unprecedentedly tense, adversarial relationship between the two countries. […] 
William B.P. Robson talks with Financial Post’s Larysa Harapyn about Prime Minister Mark Carney’s agenda moving forward. 
Back to the Future? Canada’s Auto Strategy The Trump administration’s auto tariffs threaten Canada’s internationally competitive vehicle manufacturing sector, encouraging production to shift south, causing inefficiencies and damaging North American competitiveness. This report proposes a modernized Auto Pact that would allow tariff-free vehicle imports from countries with which Canada does not have a free trade […] 
To: Trade war watchersFrom: Jon JohnsonDate: May 2, 2025Re: Judicial Challenges to Trump’s IEEPA Tariffs – Time for Congress to Act The Trump administration has issued 13 executive orders under the International Emergency Economic Powers Act (IEEPA) imposing tariffs based on alleged national emergency concerns, including: Declaring an America First Trade policy addressing “unfair and unbalanced […] 
From: Harvey NaglieTo: Trade war watchersDate: April 24, 2025Re: Reimagining Canada’s Trade Strategy in Response to US Pressures The C.D. Howe Institute’s report on Canada’s response to intensifying US trade pressures offers a pragmatic blueprint centered on economic de-risking, strategic diplomacy, and safeguarding existing trade frameworks like CUSMA/USMCA. Its recommendations – strengthening economic foundations, restrained retaliation, support for tariff-affected […] 
Canada is largely following our Trade Crisis Working Group’s strategy. But how do we implement massive changes to the country’s interprovincial trade, expand globally, and improve productivity while negotiating with a president who doesn’t respect his own trade agreements? Co-chairs Mitzie Hunter and Jason Kenney explain.