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I am sorry, Mr. Prime Minister, Canada’s economy will not grow from the heart out. Instead it will hurtle downward # backwards into a self-inflicted deep recession

Trump Will Tear Up the NAFTA Agreement


By —— Bio and Archives--September 24, 2018

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Trump Will Tear Up the NAFTA Agreement
Canadian Foreign Minister and chief NAFTA negotiator Chrystia Freeland once again undiplomatically thumbed her nose at U.S. President Trump, the U.S. negotiating team and GOP leaders who had wanted a trilateral NAFTA 2.0 deal with Mexico and Canada in principle by the end of September.

In the midst of critical discussions, which have obviously stalled due to Liberal pig-headedness and incompetence, Freeland left the NAFTA negotiations on Thursday to rush back to a foreign ministers meeting in Montreal for Friday.  She has no plans to return to Washington for the following week because as foreign minister she will be attending the U.N. General Assembly.

Remember when Freeland and her department undiplomatically tweeted criticism against the Saudi government about its civil rights abuses and the Saudi government reacted with disproportionate ferocity and anger?

Well, that is nothing compared to what Trump and the GOP will do to Canada and its economy.

It is predictable and foreseeable that Trump, with the support of GOP leaders will terminate the NAFTA deal and transform NAFTA into a bilateral deal with Trump and America’s new best friend and trading partner, Mexico.

Freeland and Trudeau have not only inflamed Trump with their numerous and intentional insults and slights, but they have alienated the U.S. NAFTA negotiating team and GOP House leaders.

Recall 75% of Canadian goods and services are sold to the U.S. market, whereas the Canadian market represents only 15% of American exports. It is a self-evident and inconvenient truth that Canada will be hurt multiple times worse than the US with the termination of the current NAFTA agreement. Also the U.S. with its booming economy and vast resources and massive internal market can better weather the storms following a NAFTA divorce between the U.S. and Canada.

In abrogating the NAFTA agreement it is predictable and foreseeable that Trump and the GOP in the upcoming midterms will paint Trudeau/Freeland and Canadians in the worst possible light as unreliable trading partners.

Capital and business are nimble, flexible and inherently entrepreneurial

Since Canada is so unreliable, stubborn and adversarial, it is also predictable that Trump and the GOP will campaign on moving and encouraging American investments in Canada’s auto sector to come back to the U.S.

In other words, Trump, the GOP and American states will encourage with all kinds of subsidies, grants and incentives, Chrysler in Windsor, Ford in Oakville and GM in Oshawa to wind down their plants in Canada and relocate to a more friendly, stable, reliable, lower cost American heartland and American south, thus bringing back hundreds of thousands of auto and auto-related jobs to America First.

What Trudeau and Freeland fail to grasp is that capital and business are nimble, flexible and inherently entrepreneurial.

Trudeau and Freeland also fail to grasp that in this zero-sum world, Canada’s pain is America’s gain.

The so-called complicated supply chain between the U.S. and Canada is not etched in stone or Canadian steel.

The American government has the resources to dismantle the U.S/Canadian supply chain and rebuild very effectively over time within America. The U.S. has vast resources and the will to subsidize those American companies and American workers temporarily affected by the end of the US/American trading and economic relationship.

 

Continued below...

Trudeau’s self-inflicted deep recession

It is predictable that Trump will publicly berate the foolish and feckless Trudeau/Freeland team citing a whole host of bad behaviour and conduct in which the Trudeau/Freeland team engaged.

Trump may go so far as to suggest to the Canadian people that Canada will be denied preferential access to America’s vast and booming market, unless and until there is a regime change in Canada.

It is predictable that Trump will levy tariffs on Canadian autos which will lead to the loss of hundreds of thousands
of auto and auto-related jobs in Canada.

I am sorry, Mr. Prime Minister, Canada’s economy will not grow from the heart out. Instead it will hurtle downward # backwards into a self-inflicted deep recession.


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Mitch Wolfe -- Bio and Archives | Comments

Mitch Wolfe, a graduate of Harvard University, is the author of “Trump: How He Captured The Trump White House”, which he wrote and had published prior to the election. (available on Amazon.com)


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