ELBOWS UP? DUMB STRATEGY
CANADA'S ELBOWS UP STRATEGY WAS DOOMED TO FAIL, AND IT JUST DID
As we first alluded to January 20, 2025, Canada's "retaliatory tariff" – or in the Prime Minister's view, our "elbows up" – strategy was a bad idea and of "questionable economic policy". We also described it as a fight that Canada could not win for Bloomberg Daily Tax.
Perhaps expectedly, Prime Minister Carney has today backed off the heart and sole of that retaliatory response, creating an exception for US origin goods.