Liz Peek joined Fox Business’ The Bottom Line with Jackie DeAngelis and Brian Brenberg to assess Canadian Prime Minister Mark Carney’s effort to build closer ties with Europe amid his trade dispute with President Trump.
Peek said Carney’s anti-Trump posture is paying dividends at home: with an approval rating around 70 percent, he has an incentive to keep taking a more abrasive and antagonistic line toward the United States. She said the European outreach is understandable, but stressed that Canada remains deeply dependent on the U.S. market, which takes roughly 70 percent of Canadian exports.
Canada has abundant energy resources, Peek said, but its weak regulatory environment, poor business leadership and brain drain are holding it back. She noted that many Canadian technology entrepreneurs and executives are moving to the United States, leaving the country with serious structural problems.
Still, Peek said the U.S.-Canada dispute should be resolved. The auto industry, where parts routinely cross the border several times, shows how intertwined the two economies are. If the personalities can be put aside, she said, a deal is likely.
Source: Fox Business, The Bottom Line
