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Drew Fagan
Munk School, University of Toronto
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Where they stand
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Drew Fagan tells BNN Bloomberg that Canada matching US tariffs dollar-for-dollar was the right strategy despite the 12x GDP mismatch.
We are fighting a country by ourselves that's 12 times our size in terms of GDP, but meeting the amount of tariffs, I think, was the right strategy.
Drew Fagan tells BNN Bloomberg that the US-Canada trade war is in an escalating spiral with no negotiations in sight and US counter-counter tariffs likely.
We're in a spiral right now. There's no talk of negotiations, and let's remember the negotiations that the U.S. offered over the course of the last six, nine months, it was effectively a take it or leave it offer.
NeutralCanada
leaning · 2026-09-08
Drew Fagan tells BNN Bloomberg that only economic pain on both sides will bring the US and Canada back to the table, and Canadians are currently primed to fight.
I think pain on both sides. Canadians, the polling shows are primed for a fight.
BearCanada
leaning · 2026-09-08
Drew Fagan tells BNN Bloomberg that a spiraling trade war will hurt Canada more than the US and the tit-for-tat will continue for a while before sanity prevails.
We're a medium-sized economy. They're a super-sized economy, but there's going to be tit for tat for tit for tat for a while, I think
Drew Fagan tells BNN Bloomberg that Trump's global tariffs raise government revenue but are a net negative for the US economy.
The global tariffs that Trump has imposed has had a positive impact on the revenue for the government. You can get addicted to that, but it's had a negative impact on the economy.
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