Source: The Daily Economy
by David Hebert
“Hours after the trade negotiations collapsed and the United States imposed a 50-percent tariff on roughly $20 billion worth of Canadian goods on August 22, Canada’s prime minister, Mark Carney, stood before reporters and told them what lesson Canada had drawn from 18 months of dealing with Washington. In his words, Canada understood that America ‘would put a series of tariffs on its closest allies and use economic integration as a weapon. That its signature was written in pencil.’ … Tariff rates can be haggled over and retaliation can be unwound, but a signature written in pencil means that there is no real reason for anyone to negotiate, because there is no commitment. Canada did not arrive at this position quickly. It got there the hard way, by giving Washington what it asked for three times and watching a trade deal spearheaded by the very same man evaporate and be replaced by new tariffs.” (08/26/26)