Scotiabank: Tensions in US-Canada trade relations will not affect the overall situation
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Golden Ten Data reported on April 23 that Derek Holt, an economist at Canada's Scotiabank, stated that renewed tensions in US-Canada trade relations will not affect Canada's long-term economic prospects. US and Canadian officials have been engaging in mutual blame and threats over trade issues, with the US Trade Representative even threatening new retaliatory measures over some Canadian provinces' bans on US wine and spirits imports. Holt considers the impact of US-Canada trade negotiations on Canada to be severely overstated. He noted that, due to the provisions of the US-Mexico-Canada Agreement, most Canadian exports are not subject to tariffs. Holt added that it is unlikely that Trump would revoke this duty-free treatment, as it would disrupt the integrated supply chain network, and that reaching an agreement is possible.
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