This reaction in Canada has mostly to do with the constant barbs that Trump is throwing at Trudeau, who’s still in power for another 22 days. There’s a very negative relationship there and it’s just gotten worse because Trudeau has been putting out posts stirring up anti-Trump sentiment. And so Trump keeps going with, let’s buy it as the 51st state. That has made Canadians crazy. The truth is that that is not being discussed at all. That’s not part of the actual narrative that’s occurring in Washington, D.C.. Premiers in Canada are down with their teams trying to focus on a new deal, if you want to call it NAFTA III. There is a slight chance this whole thing gets punted until April 2nd after the report comes out on the impact of tariffs on Canada and Mexico. But this nationalism in Canada is the noise. It’s not the signal.
