CHARLEBOIS: Trade uncertainty back on menu after top U.S. court ruling |
The U.S. Supreme Court’s unsurprising decision to strike down President Donald Trump’s emergency-based tariffs may, paradoxically, make things more complicated for Canada — not less.
It didn’t take long to see the reaction. Rather than accept the court’s limits on his authority, Trump pivoted immediately, criticizing the ruling and announcing new tariffs under a different statute, with hints that rates could rise further. The response was entirely consistent with the brand.
CHARLEBOIS: Trade uncertainty back on menu after top U.S. court ruling Back to video
Some pundits rushed to claim the decision was a humiliation. That is nonsense. If anything, the ruling handed Trump an opportunity to inject even more uncertainty into global markets. A Supreme Court endorsement of the original tariffs would have created a predictable — if unpleasant — framework. Predictability allows businesses to adjust. What we now face instead is fluidity. And fluidity, in trade policy, is far more destabilizing.
Canada conducts roughly $100 billion........