Trump and Lutnick Are 'Lying Through Their Teeth' On Trade War Rationale: Economist
Scotiabank economist Derek Holt claims that U.S. President Donald Trump and Secretary of Commerce Howard Lutnick are misrepresenting the fentanyl crisis to justify tariffs against Canada, which he argues is not a significant source of fentanyl. Holt describes the U.S. administration as "pugilistic" and asserts that the use of tariffs allows them to circumvent Congress, undermining genuine trade negotiations. He suggests that Canada’s only viable response is a robust counteraction, as the current U.S. trade stance is based on fabricated claims rather than substantive issues.
- Holt's critique highlights the complexities of international trade where national security concerns can be weaponized, raising questions about the integrity of diplomatic negotiations and economic policies.
- What implications might this approach have for future U.S.-Canada relations and the broader landscape of international trade agreements?