Trump’s trade policies got the man elected, but now Canadian Prime Minister Mark Carney is watching his country’s economy fold under pressure from the tariffs that got him into office.
The Wall Street Journal today has two interesting and relevant-to-Trumpnomics articles. One deals with U.S. consumer sentiment, the other with Canada’s economy.
On the Canadian front, manufacturing is being especially hard hit, what with 25 percent tariffs on car parts and automobiles and 10 percent on energy. Their economy is expected to grow only 0.9 percent this year, well below inflation.
On the U.S. front, the University of Michigan index of consumer sentiment fell to 50.3, nearing a historic low.
As I asked in my post yesterday, will Trumpnomices lead to a U.S. Trumpcession. Now, I need to ask if that Trumpcession might go global.
[PICTURED: President Trump greets Canadian Prime Minister Mark Carney at the White House]
