UBS On-Air: Paul Donovan Daily Audio 'The “Heated Rivalry” threat'
UBS On-Air: Market Moves · Podcast owner
February 10, 20262m 35s
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Show Notes
US President Trump’s social media accounts published an attack on Canada, threatening to block the opening of a US-Canada bridge (named after a Canadian hockey player), and suggesting a Canada-China trade deal would end the playing of ice hockey in Canada. This seems an unlikely outcome in the post-“Heated Rivalry” environment. Despite the tone of the statements, markets are likely to discount this rhetoric (tariffs on US importers of goods from Iranian trading partners, 100% tariffs on US importers of Canadian goods, and 50% tariffs on US importers of Canadian aircraft have yet to materialize).