Really interesting op-ed given that Trump was complaining US banks aren’t allowed in Canada:
President Donald Trump’s chief economist, Stephen Miran, a Harvard-trained PhD and hedge fund strategist nominated to chair the President’s Council of Economic Advisers, wrote in November “A User’s Guide to Restructuring the Global Trading System.”
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He points to the 2018-19 tariffs the first Trump administration imposed on China (and the Biden administration retained) as proof his theory has merit and that it “should inform analysis of future trade conflicts.” In that case the Chinese currency fell, the U.S. dollar strengthened, and the trade deficit remained. But the important thing is that inflation was manageable, China got the message, and new revenue was raised for the U.S. Treasury, according to Mr. Miran.
We will need to come to terms with the fact that the U.S. will assess its relationship with us based on a criteria matrix that includes, as Mr. Miran suggests, if Canada “opens its markets to U.S. firms in the same way America opens its markets to foreign firms operating stateside.”
This has implications for Canadian agricultural supply management, the telecom sector, restrictions on investments, service barriers to online streaming and barriers to digital trade such as the digital service tax.
There is no plan. Psycho-analyzing the pigeon shitting on the chess board is masturbation at best.
…Well that’s certainly a memorable phrase.