Will “President Peace Prize” Trigger a Trade War?

Hi guys.  How’s your economy doin’?

I was just wondering.  Because while your POTUS was busy playing footsie with Iran, getting publicly schooled by Putin, playing his 150-somethingth round of golf, and unloading successive failed policies, you may have missed the news that your friendly neighbors to the north have inked a free trade deal with Europe.  This is yet another of a series of trade deals Canada’s Prime Minister has successfully negotiated since taking office.

You see, it isn’t just the President’s blocking of the Keystone project that has Canada’s PM looking for other economic dance partners, or the knowledge that your guy is destabilizing your economy.  But by adding protectionist “buy American” provisions to your various infrastructure and other government procurement projects, your various levels of government have blocked Canadian participation in your economy that was previously provided for by NAFTA.

To your side’s credit, there was an agreement in place exempting Canada from those restrictions.  But that ran out in September, and Obama, in his usual *cough* great statesman form, let it lapse without either extending or renegotiating it.  It’s yet another example of how Obama curtsies to your enemies and flips the bird to his allies.

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Here’s the problem.

This may shock some of you, but Canada is USA’s biggest trading partner – bigger even than China — and according to this article in Canada’s National Post, pressure is now being put upon Canadian governments to “apply reciprocal measures”.  That means your guys won’t be able to apply to Canadian contracts.  For those of you paying attention, that would mean jobs.

Just something to think about.
Cheers!

 

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