Trump has singled out us Canadians for special treatment in his tariff war – there is no choice but to get nasty | Matt Gurney
Context
The White House fails to understand that Mark Carney and Canada’s regional leaders can’t cave in to the US president: it’s too toxic to voters • Matt Gurney is a journalist based in Toronto Though many hate to admit it, Canadians have long wished for more attention from the US. Well, we’re getting it now. And it turns out that President Trump and some of his top supporters in the Maga movement don’t much like us. The first big hint was when he started talking about annexing us, saying we couldn’t survive without American support. But the most recent example of Trump’s dislike for Canada can be seen in his latest tariff policies. Canada was largely spared the impact of his “Liberation Day” tariffs in April 2025 by its pre-existing free trade deal with the US (and Mexico), but earlier this month, as expected, the US declined to extend that deal for another 16-year term. It’s now subject to annual renegotiations. Then, last week, the White House announced tariffs as high as 50% on a selection of Canadian products including, for the first time, items previously protected by the trade agreement. The US called it retaliation for Canadian trade practices. Matt Gurney is a journalist based in Toronto, and co-editor of The Line, an online magazine Continue reading...
What it means
No call: the only market channels here were low-conviction — below our selectivity bar, where the track record shows no reliable edge.
Causal chain
No clear market signal
How to read a signal
- Severity
- the event's market impact, 1–5
- Direction
- ↑ / ↓ likely price move for the asset
- Exp. move
- the size of the abnormal move we'd expect if the call plays out — not a claim a move will happen:Most flagged events don't move beyond noise; those count against us (see the track record).Ssmall<1%Mmoderate1–5%Llarge>5%
- Timeframe
- the window we measure over:1dshort5dmedium21dlong
- Conviction
- how well-established the directional call is (textbook → speculative) — not a guaranteed outcome:lowaveragestrong
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Sign up free →Not investment advice · for informational purposes only. Generated 29 Jul, 11:44 UTC