A group of business executives and economists paraded in front of a Parliamentary committee Tuesday to tell us what we already knew: namely, that the current trade war with the United States will hurt Canada more than the U.S.
The sheer size and power of the American economy on the world stage is a given, but with that power, comes responsibility, and responsibility is not something Donald Trump acknowledges.
WATCH: Bill Morneau says U.S. tariffs not helpful, defends Canada’s tariffs
Canada’s retaliatory tariffs go into effect next week, and the warning from some of those economists is that Canada’s action will only anger Trump and could trigger even more hurtful tariffs on the Canadian auto industry.
But really, what choice do we have? Do we sit back and watch the Canadian steel industry wither and die because of Trump’s steel tariffs, which were imposed to fix a problem that doesn’t exist? How do you negotiate with someone who doesn’t want to negotiate, but to dominate?
Let’s not forget that Canada is not alone in this battle. Germany, France and the U.K., among others, are pushing back against Trump’s unjustified and punitive actions.
The economists were quite correct: when you stand up to a bully, you run the risk of getting banged up yourself.
But the alternative, to become subservient to the bully, is a far more ominous scenario.