Trump's victory could spell trouble for Trudeau in Canada - Reuters
Donald Trump has been re-elected to the presidency of the United States. But his victory could bring problems to both Canada and Canadian Prime Minister Justin Trudeau.
This was reported by RBC-Ukraine with reference to Reuters.
The agency writes that Trump's return to the White House on January 20, 2025, could result in economic problems and the need to make difficult decisions for Canadian Prime Minister Trudeau, whom Republicans once called “an extreme left-wing lunatic.”
According to analysts and economists, the possible consequences include trade demands that could lead Canada into recession, as 75% of its exports go to the US, and a stream of thousands of people heading north across the US border.
Trump's victory adds to Trudeau's problems, as polls show he is likely to lose to his Conservative opponent in an election due within a year.
Reuters notes that Canada's slowing economy and soaring cost of living over the past few years are the main themes of the election campaign, which comes amid diplomatic disputes with China and India that are hampering efforts to diversify trade.
Canada, the world's fourth-largest crude oil producer, is most vulnerable to Trump's plan to impose tariffs on all imports, as well as his pledge to increase US energy production.
Author - Dmitriy Levchenko, 07/11/2024
