Canada’s trade war with the United States is escalating as Canadian counter tariffs have taken effect and the Americans have widened the scope of their own tariffs. It’s unclear whether this might lead to further escalation or whether there’s a path back to the negotiating table. It’s also not clear what the government’s ultimate objective is or how long they’re prepared to fight this battle. In this interview, National Post’s Rob Breakenridge speaks with Carleton University business professor Ian Lee about the need for Canadians to accept some of the basic economic realities we’re facing and the potential economic damage from a prolonged trade war. If we’re not careful, Lee warns that we could stumble into a recession or even see capital flight out of the country.
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