Canada’s punditry class is in overdrive analyzing President Trump’s tariff threats and other provocations toward the country. The prime minister’s gathering of corporate and union executives together with his advisory council is a welcome initiative, and so are his consultations with political leaders in Europe and Asia worried about the implications of U.S. tariffs on the global trade system.
Ideally, Canada’s response will be with a unified voice, but lessons from other eras—Nixon’s devaluation of the U.S. dollar, the extreme protectionism of Congress in the 1980s, and Trump’s first term—will inform the timing and nature of countermeasures ...
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