If you’re getting tired of hearing about tariffs, you’re not alone. But US President Donald Trump’s ongoing, expansive threats to use economic force to devastate our economy and annex Canada remains the story in our nation.
Canada Under Threat
In case you missed it, earlier this week we released a five-part story: Canada, we have a problem. Our aim is to help you better understand the issue, the stakes, and our options, as well as illustrate the far-reaching impact the trade war might have on other pressing global issues.
As always, we end with a question: Where to from here? Indeed, our nation is facing an unparalleled crisis and there are no easy answers. We need you to help chart a path forward, and we hope this story can be a guide that allows you to find your place – and your voice – in this critical national conversation.
More Tariffs
Another week, another tariff threat – this time with Trump pledging to slap an additional 25% tariff on Canadian steel and aluminum imports into the US. What would a 50% steel and aluminum tariff mean to Canadian communities?
Steel and aluminum tariffs: Who will they hit, and how will Canada respond?
Of course, Trump has also threatened tariffs on other global allies, threatening the global economy and further destabilizing the rules-based international order (while somehow still remaining fixated on making Canada the 51st US state).
Trump rolls out reciprocal tariffs: ‘Canada is going to have to start paying up’
Trump signs a plan for reciprocal tariffs on US trading partners, ushering in economic uncertainty
Why is Trump doing this? Well, in part, it is because Trump doesn’t believe in the laws of economics, argues The Logic’s Kevin Carmichael:
Carmichael: Trump defies the laws of economics because he doesn’t believe in them
As you know, we like to investigate history in the hopes of better understanding the issues at hand. Here’s one deep dive into Trump’s personal history that might better explain his love for tariffs:
How Japan sparked Trump’s 40-year love affair with tariffs
And lest we forget, as we cited in our Canada Under Threat story, that tariffs and trade wars have a history of turning violent:
History shows how a trade war can become a violent conflict: Brock expert
The Annexation Threat is Real
In a speech to business leaders that was intended to be off-the-record, outgoing Prime Minister Justin Trudeau confirmed that Trump’s threat to annex Canada is real:
Don’t believe Trudeau? Well, then take it directly from the horse’s mouth (again):
Trump doubles down on annexation threat, says Canada would be ‘cherished state’
The threat is being taken seriously by almost every Canadian decision-maker, including our former prime ministers. In a speech earlier this week, Stephen Harper stated that Canada must accept “any level” of economic damage to fight back against Trump and protect our sovereignty:
Stephen Harper says Canada should ‘accept any level of damage’ to fight back against Donald Trump
For a deeper dive into Trump’s annexation thinking, we recommend this story:
Trump’s plan for ‘hemispheric control’: Steve Bannon on why tariffs may only be the start
If you know your history, you probably also know this isn’t the first time the US has flirted with annexing Canada. The last time, during the 1930s, America went so far as to draft a plan for invasion. Curious? Take a walk down (scary) memory lane:
Taking Sudbury’s nickel mines part of U.S. invasion plan of the 1930s
And in case you forgot, there is a rather large hockey game tomorrow between Canada and the US. The stakes might be a bit higher than usual and, for that reason, all of our former (living) prime ministers are urging Canadians to fly the flag and show their pride in an unprecedented show of Canadian unity:
5 former prime ministers say fly the maple leaf on Saturday to stand up to Trump
The Problem with Growth
We’ve talked about this extensively in Nature Labs: many business leaders and decision makers in this country believe that our productivity and economic growth problems emanate from an abundance of red tape – specifically environmental red tape. And a new study released this week affirms this concern:
Sharp rise in regulatory burden is harming Canada’s economic, job growth: study
But that wasn’t the only study released this week:
Economics, not politics, main reason mines fail to materialize in B.C., researcher suggests
This is a major issue, as it directly relates to Trump’s tariff threats, our retaliatory options, and Canada’s position on numerous global issues, including biodiversity and climate change. As you can imagine, this has led to a flurry of hot takes:
GREEN: Canada should match or eclipse Trump’s red-tape cutting plan
KLEIN: A North American Union could greatly benefit Canadians
Let’s not get too excited about pipelines. Canadians can’t afford another
More pipelines won’t make Canada more secure. Renewable energy will
Business Brief: A new pipeline? In this economy?
Christopher Dummitt: The push Canada needs to achieve true independence
Don’t You (Forget About Me)
That’s not only the title of the greatest goal song in hockey (not remotely biased here), but it’s also a helpful reminder that nature – and the impacts of environmental degradation – is an economic issue:
Climate disasters lead to billions in insurance losses. Could they trigger a financial crisis?
And some believe that the economic fall-out of climate change and biodiversity loss is at the heart of Trump’s annexation threats:
Climate change is fuelling Trump’s desire to tap into Canada’s water and Arctic resources
Trump’s possible not-so-secret agenda: Canadian water exports and lots of them
Should we take environmental issues more seriously? That’s an open debate, but one researcher says taking action isn’t rocket science:
Saving species ‘not rocket science,’ but few faring better than long ago: researcher
And though the news isn’t getting better for biodiversity, scientists are finding new ways to help address the problem:
Gene pools are getting dangerously shallow for many species. Researchers find five ways to help
Indeed, there is always hope. But to communicate the issue – to rally all of society to embrace science – repeating facts doesn’t help. What does? Researchers believe it all comes down to building conversation and community:
Two Final Stories
Before we sign off for the week, two last stories we think are worthy of you attention. The first is a nation-building opportunity that is of increasing importance to Canada’s sovereignty:
Anne-Raphaëlle Audouin: Building the North is critical for a stronger Canada
The other story? A dire warning from Germany:
Why more young men in Germany are turning to the far right
On that note, while patriotism is only a hop, skip, and a jump from nationalism and its many problems, Canadian patriotism – and unity – is absolutely called for in this moment. And what better way to unite a nation than through the game we love: hockey!
Enjoy the games and 🇨🇦Go Canada Go🇨🇦!