(Jeff Rubin – Toronto Star)
Finance Minister Bill Morneau can be excused for tabling a budget last week that can best be described as treading water insofar as new tax or program spending initiatives are concerned. When your major trading partner who imports roughly a fifth of your GDP declares it’s about to make a U-turn on everything from energy to trade policy, it’s prudent to keep your powder dry.
A new oil-friendly Trump administration that is openly skeptical about climate change has raised hopes for getting a long-sought pipeline built for Canada’s beleaguered oilsands.
At the same time, Trump’s threatened protectionist measures against soaring auto and parts imports from Mexico is widely perceived as a threat to Canada’s largest manufacturer sector, which fears it will become collateral damage in NAFTA renegotiations. However, the ultimate consequences for Canada from these policy shifts may be quite different than what their optics suggest. Click here to read more.