Personal politics aside, a Trump victory in November could bring on “a negative impact on trade and could not come at a worse time for Canada considering how a recovery in export growth to the U.S. will be crucial to stimulate business investment and growth locally.”
This a warning from Charles St-Arnaud of the Nomura economics group.
St-Arnaud, a known expert commentator on the Canadian economy, states that Hillary Clinton would be “only marginally negative compared with the status quo” where Canada’s economy is concerned, and that we’d suffer “a much bigger negative impact” from a Trump presidency.
The biggest impact would be, but not limited to, trade as Trump proposes to rip up the free trade agreement, impacting 76% of our total goods exported.
Unlike Mexico, Trump is not proposing walling off the Canada-U.S. border, but likely there would be tougher controls at border points that would immediately impact almost $600-billion in trade, and could add friction to what is now an easy border for Canadians to cross.
Mr. St-Arnaud also discusses oil, international policy, the environment and the markets and the results of a Trump presidency, which could all in all add significantly to the negative impact on Canada.