The latest flareup in trade tensions between the U.S. and Canada will likely pass, AGF Investments strategist Greg Valliere said early Friday.
President Donald Trump said he was ending all trade talks with Canada, in a social media post late Thursday, due to an anti-tariff TV advert aired by the Ontario government. The advert featured audio of Ronald Reagan criticizing tariffs in a 1987 radio address.
Valliere said that while Ontario premier Doug Ford, who launched the ad campaign on his X account last week, could be “explosive,” Prime Minister Mark Carney “had been moving forward toward a conciliatory stance in recent weeks.”
“Trump imposed sanctions on Canada in late June, and then rescinded his stance two days later. Our guess is that this crisis will pass, but it may require a diplomatic apology from Ford and Carney,” Valliere added in a morning note.
