It didn’t take long for Trump to reverse his stance on Carney’s China deal, threatening 100% tariffs on all U.S. exports in the event of a free-trade deal. While Canada isn’t pursuing one with China…

… as it’s not permitted under CUSMA, the escalation further illustrates the tightrope Carney walks in attracting foreign investment and diversifying end markets.

It’s plausible Trump’s reaction was influenced at least in part by Carney’s Davos speech, with some speculating he’s gearing up to go for the majority…

… using the same “elbows up” rhetoric that won over voters the first time around. Let’s see what happens.