The fun aspects of live TV were evident on a very busy news morning this past Saturday for the CBC News Network Weekend Business Panel. Our segment was delayed while we watched the Trump press conference on the monitor in studio as he left the G7 Summit. Although he arrived late and left early, Trump’s presence at the G7 did little to generate progress; rather, the outcome could best be described as uniting the other six countries against the US, as a result of the difficult stance they’ve been taking on a number of issues.
As someone who watches a lot of US political news, Trump’s remarks (and subsequent tweets) are more of the same, including blaming Prime Minister Justin Trudeau for being “very dishonest and weak”. In a previous tweet, Trump indicated that Trudeau’s “false statements” resulted in his decision to not endorse the G7 communique, an obvious snub to longstanding US allies. Although attacking Canada might not be the norm, finding a “villain” and taking shots from afar are typical Trump behaviors. My guess: he’s annoyed that the G7 countries didn’t go along with his demands and had the wherewithal (i.e., “nerve”) to fight back against the recent US tariffs and request exemptions. In the absence of achieving any success on this front, it’s game on.
This situation represents an uncertain time for companies globally, many of which rely on a range of partners to operate, be it suppliers, distributors, and financiers. Business (and markets) do not like uncertainty, as it can represent risk for companies, and as Trump continues making unforced errors, problems that do not need to happen appear in abundance. As Prime Minister Trudeau continues to support Canadian interests, opportunities for companies in Canada are evident, as businesses globally continue to consider the implications of uncertainty associated with US partners.
Canada is home to many companies that have the ability to rise to meet international challenges, however, they should do so only after completing the necessary research and putting the right systems, processes, and strategies in place. Growth has a way of requiring capital, and companies shouldn’t approach opportunities before fully understanding the neecessary funding and ensuring that it is in place. Sound like a lot to do? Advisors can help.
You can watch our Business Panel segment here, complete with the sounds of a busy newsroom. See you next time, CBC!