An atmosphere of anxiety and panic in Canada as soon as Donald Trump becomes President

US Presidential Election 2024: There is an atmosphere of anxiety and panic in Canada after Donald Trump’s victory in the US presidential elections. Analysts believe that Trump’s return may increase difficulties for Canadian Prime Minister Justin Trudeau, especially when America is the main destination for most of Canada’s exports. Along with this, concerns are also being raised about a possible recession in Canada due to the already strained relations between Trump and Trudeau.

Trump has announced that he will impose a 10% tariff on all imports and give priority to American energy production. This policy will have a direct impact on Canada, which is the fourth largest crude oil producing country. 75% of Canada’s exports go to the US, and as such this tariff could have a deep impact on the Canadian economy. According to the Canadian Chamber of Commerce, Trump’s tariff policy would reduce Canada’s income by 0.9% annually and labor productivity by about 1%. If trade tensions increase, its impact on Canada’s economic growth could be more serious.

Trump-Trudeau relations
Relations between Trump and Trudeau have always been tense. At the G-7 summit in Quebec in 2018, Trump criticized Trudeau as “dishonest and weak.” After this, in 2022, Trump also called Trudeau crazy regarding Covid-19 vaccination. Due to these comments of Trump, tension has been seen on the public platform between the two leaders. However, Trudeau congratulated Trump on his victory, saying that the friendship between the two countries was the “envy of the world” and that they would work together.

Fear of recession and economic uncertainty in Canada
Many concerns are emerging regarding the possibility of economic recession in Canada. According to the Canadian Chamber of Commerce, Trump’s tariff policy could lead to a major decline in Canada’s real income and labor productivity. At the same time, there may be a decrease in confidence among investors, which may have a long-term negative impact on the Canadian economy. Laura Dawson of the Future Borders Coalition says that if Trump’s four-year term continues, it could prove to be very challenging for Canada.

Challenge for Justin Trudeau in the upcoming elections
Elections are going to be held in Canada next year, and according to current polls, Justin Trudeau is expected to lose. Even before Trump’s second term, new problems have arisen in politics for Trudeau. According to analysts, due to the policies of Trump’s tenure, Canada’s GDP may decline by up to 1.7 percent.

Also read: India, China, Indonesia, Philippines… What will be the impact of Trump’s victory on Asia, experts made scary claims for these countries.