menu_open Columnists
We use cookies to provide some features and experiences in QOSHE

More information  .  Close

Globalism hangover

3 0
02.07.2025

For the past six months, U.S. President Donald Trump’s trade policies have been widely mocked, criticized, and condemned.

Some of it is certainly warranted. The Wall Street Journal, for instance, recently likened his tariff-heavy approach to global trade as a direct path toward another Great Depression. But data out of the United States tells a more nuanced story—one that challenges conventional wisdom.

Despite persistent headwinds, the U.S. economy continues to outperform expectations.

The Federal Reserve Bank of Atlanta projects second-quarter GDP growth at 3.8%. In May, the U.S. economy added 139,000 jobs, outpacing forecasts, while inflation remained subdued at 0.1% month-over-month and 2.4% annually. The U.S. trade deficit has been cut nearly in half, pointing to stronger export performance and a rebalancing of trade relationships.

Canada, by contrast, is showing signs of economic strain.

The national economy is shrinking, manufacturing is struggling under U.S. trade pressure, and food inflation is outpacing general inflation. In short, our economy is not keeping pace — despite our public criticism of the Trump administration.

To make matters worse, the Trump administration has now halted all trade negotiations with Canada, signalling that our bilateral economic relationship holds little........

© Castanet