Summary
The White House claims Canada has “misunderstood” Trump’s new 25% tariffs as a trade war, while Mexico is cooperating.
Trump justified the tariffs by citing trade imbalances, illegal immigration, and fentanyl trafficking.
Canadian officials view the move as an economic attack, while Trump insists it is a negotiation tactic.
The market corrected within hours of opening. The arbitrage opportunity is already over and was so small that only people operating with large scale portfolios made any real money off of it.