An Eventful Week
Canada Spared from New U.S. Tariffs... for Now. The departure of Gary Cohn, President Donald Trump’s principal economic advisor, caused some concern on the markets, but it quickly faded with the announcement of a temporary exemption for Canada and Mexico from the tariffs on steel and aluminum.
Growth Remains Widespread… but Watch Out for the Risk from Protectionism
We have not factored in a trade war at this point, but the arduous renegotiations of the North American Free Trade Agreement (NAFTA), the proliferation of U.S. protectionist measures and possible counter measures against them add a lot of uncertainty to our economic forecasts.