The Imperial Presidency

[MilkmanConspiracy]

Frankly, yes, with the stated goal that the economic damage to limited in the short term. That was stated during the campaign, and economic depression is an easy campaign promise to keep.

It is certainly within their power to depress the economy, but what remains to be seen is if they can rebuild it once their goals are achieved. I don’t foresee any major powers helping substantially in recovery if things continue as is. Even if they are dragged into economic depression as well, I think many countries will push for inner resiliency over rebuilding a once ally (And one that has often bullied their allies and antagonized them, with economic interdependence and security guarantees keeping them aboard) to a bully and ally in name only.

Canadians are in a strong position being among the first to be targeted. Unenviable, but strong. Whatever Canadians do in this time is likely to shape the playbook of what other countries do in response once significant tariffs are used against them. As an economically entwined country, Canada has the opportunity to build other trading ties, both between its provinces and with other nations. I expect European, Japanese, Korean and perhaps Chinese or even Indian, auto manufacturers, to eat the marketshare left by American auto manufacturers, who may encounter supply difficulties of their own given historic use of Canadian parts in American supply chains. I anticipate the reduction in the supply of timber and processed lumber to seriously harm the construction industry, and for Canadian oil and power generation to be blocked increase energy prices.

Edit notice: Small Copyedits.