Where do things stand for Canada after the United States imposed a new, higher tariff last Thursday evening?
In the short run, not much has changed. In the long run, a lot may yet change.
Since the signing of the landmark Canada-United States Free Trade Agreement in 1988, the relationship has been about ever-lower trade barriers and ever-easier movement of goods and services across the border. It was part of a global trend. Under President Donald Trump, the U.S. is reversing course, hard and fast.
