A new U.S. president is in the Oval Office but the same protectionist policies will likely remain.
Canada's major wireless companies often act in tandem with one another, the result of years of regulatory protection from competition.
“Undoing globalization would be very costly....”
The Trump administration fancies the use of protectionist measures to boost production and employment in the U.S., to the detriment of other countries if need be. Such interference with economic globalization wouldn't just infringe on prosperity. It would probably also rekindle old and new political conflicts.
In re-opening NAFTA, President Trump runs the risk of falling into the same kind of black hole created by Smoot-Hawley 87 years ago. Millions of Americans eventually lost everything after having been sucked in by their government's predictions of prosperity -- much in the same way as they are being sucked in today.
The Trudeau government has been calling CETA the "most progressive" free trade deal ever. But the deal does not require the payment of living wages; it does not mandate a crackdown on tax evasion; and it certainly does not try to guarantee the "peace of mind ... that come[s] with stable, full-time contracts."
Trump may not want a fight — only a quick political victory.
Climate change is "Made in China," but they get off scot-free. We need to admit one simple truth: handicapping Canadians with a tax will have zero effect on global climate change. However, that doesn't mean we can't exert influence and pursue real solutions.
But currency traders could defeat the proposed border tax.
It's the non-energy exporters who have something to fear.