Economic, Environmental, and Safety Threats Associated with a Trump Presidency
Within the past six decades, Canada has enjoyed a strong economic and political bond with the United States. The US has remained one of Canada’s most important trading allies. However, experts have argued that the victory of Donald Trump to become the 45th president of the United States might have numerous implications for the nation. The first threat that a Trump presidency might bring to Canada is economic. To begin with, Trump believes strongly that the North American Free Trade Agreement (NAFTA) has been a disaster and should be renegotiated or scrapped (Perez-Pena & Austen, 2017). Mr. Trump has also vowed to persuade different American multinational companies to return their businesses home. This move can hurt the “country’s economy because U.S. corporations have over $28 billion in Canadian banks” (Perez-Pena & Austen, 2017, para. 3). Some analysts believe that a Trump presidency will result in the death of the TPP. The end of the TPP will diminish the influence of the United States in Asia. This move will have disastrous impacts on Canada’s economic performance.
As the president of the United States, Trump might decide to repudiate the existing greenhouse gas reduction targets that were accepted as “part of the 2015 Paris climate change agreement” (Business Council of British Columbia, 2016, para. 3). Trump’s government is expected to boost gas and oil production. Oil exploration activities might also be embraced within the next few years. Trump has also assured his people that he is going to approve the infamous Keystone Pipeline program. The program will definitely result in environmental degradation. A Trump presidency might fail to implement or sign any carbon pricing law shortly (Business Council of British Columbia, 2016). These measures will have significant implications for the environment of Canada. This is the case because the environmental interests of Canada cannot be realized by working together with the United States on every issue focusing on energy security and climate change.
Some analysts have argued that the United States might encounter numerous safety concerns and unrest due to the tensions experienced in the nation. Any form of unrest arising from the proposed immigration policies might force Canada to deal with a wide range of safety issues. With the potential changes in the economic position of Canada, chances are high that the country might encounter numerous safety concerns. The presidency has also become a wakeup call for many conservatives in Canada (Perez-Pena & Austen, 2017). This means that the country might have to deal with a revolt in the coming days. The construction of a physical boundary between Mexico and the United States can result in an increased number of immigrants in Canada. This kind of development will affect the level of security in the country.
Canada can embrace various strategies to protect itself from most of these threats. For instance, the government can renegotiate some of its trade agreements with the United States to promote economic performance. It is also the high time when Canada identified new trade partners in an attempt to support its future economy (Austen, 2017). The projected threat to Canada’s natural environment might have negative implications on the country’s economy. However, Canada’s policymakers should work harder to create a powerful strategy to deal with the problem of climate change. This goal can be achieved by putting a sustainable price on greenhouse and carbon emissions (Tandt, 2017). New policies aimed at minimizing human ecological footprints can deliver positive results in the country. The federal government of Canada should take security concerns seriously than ever before. New laws dictating the nature of immigration should be proposed to ensure the country’s citizens are safe. With these measures in place, Canada stands the chance to support its economic position in the world.
Economic, Environmental, Safety Benefits of a Trump Presidency
Canada has increased the chances of benefiting from a Trump presidency. The first economic benefit arises from the Keystone XL Pipeline project. This project will support the economy of Alberta and the livelihoods of more citizens. Trump has promised to revive the United States-Canada free trade agreement. This new partnership will boost the country’s trade operations and support its key sectors. A Trump presidency is also expected to promote and support many Canadian industries (Hendricks, 2017). That being the case, many Canadian suppliers and corporations will find it easier to export their products to the United States. This new development will support most of the domestic industries such as manufacturing and engineers. Since President Trump appears to embrace the use of coal as a major source of energy, the government of Canada can consider this emerging issue in an attempt to support its economy.
A Trump presidency will create the best environment for Canada to move forward with its environmental policies and agendas (Business Council of British Columbia, 2016). The anticipated changes under President Trump will encourage Canada to focus on sustainable measures that can safeguard the natural environment. The country stands a better chance to partner with other countries to achieve its sustainability goals (Austen, 2017).
Canada has always collaborated with countries such as the United States to defeat global terrorism. Donald Trump has outlined several objectives for his administration such as defeating the Islamic State of Iraq and the Levant (ISIL). If this goal is realized, the number of Syrian refugees in the country will reduce significantly and promote safety. Additionally, the Canadian soldiers involved in the fight against ISL will be brought back home (Tandt, 2017). Increased border security and protectionism policies will support the safety experienced in Canada.
This discussion explains why Canada should consider the benefits that might arise from Trump’s leadership. The government of Canada can identify specific industries to export different materials to the United States. The nation can also come up with new sectors and economic activities that can support the lives of more Canadians. New policies aimed at supporting environmental conservation should be designed and implemented in the country. This approach will make it possible for “Canada to have a strong alignment for climate change action” (Tandt, 2017, para. 6). Canada should also collaborate with the U.S. to deal with the problem of global terrorism. By so doing, Canada will be able “to steal the limelight as the leader of the modern free world” (Tandt, 2017, para. 11).
Why Canada’s Approach to Trump should be Proactive
The election of Donald Trump as the president of the United States is something that should be taken seriously as Canada plans to pursue its economic goals. Canada’s privileged access and interaction with the largest market in the world appear to be threatened by a Trump presidency. To be prepared against the challenges and economic disruptions that might occur shortly, Canada should begin by implementing a proactive strategy (Hendricks, 2017). The goal of this strategy is to minimize the unique threats that might emerge due to the policies targeted by Donald Trump.
President Trump might impose duties and tariffs on goods imported from China or Mexico. This kind of strategy will definitely threaten the region’s economic stability (Goldfarb, 2016). That being the case, Canada should consider specific alignments with different trade partners across the globe. The country should also address the issue of the U.S. labor force. This is the case because Trump is expected to return to the American corporation’s homes (Perez-Pena & Austen, 2017). Canada can use the proposed proactive strategy to implement new policies that have the potential to support its interests in the global market (Goldfarb, 2016). By setting a positive standard, Canada will attract new products, technologies, people, and ideas that can drive economic performance. Perez-Pena and Austen (2017) encourage Canada to explore new opportunities in different countries such as Japan, China, Indonesia, and South Korea.
The proactive initiative will ensure new policies capable of meeting the needs of every Canadian worker are implemented. The approach will also ensure the country is aware of the unique environmental changes that might emerge due to Trump’s presidency. Issues of national security should be taken seriously to address the major challenges arising from terrorism and immigration (Goldfarb, 2016). The unique benefits that might emerge due to a Trump presidency will also be embraced to promote economic development. A proactive policy should, therefore, be the best start for Canada in an attempt to minimize the threats that might emerge from Trump’s initiatives.
Why Business Managers Should be Aware of the Issues Raised by a Trump Presidency
The issues raised by a Trump presidency have the potential to disorient the nature of trade between the United States and its partners. According to Trump, some of the existing trade agreements such as NAFTA are disasters that must be changed. The relation between the country and its neighbors might change due to the proposed foreign policies by Donald Trump (Goldfarb, 2016). These issues will definitely have numerous implications on specific sectors of the economy. These new changes will definitely transform the business operations of many corporations and industries.
This situation explains why a business owner or manager should have at least a general understanding of the issues that might be raised by a Trump presidency (Perez-Pena & Austen, 2017). With this kind of knowledge, the business manager will come up with a proactive strategy to overcome the turbulent economic period that might be experienced within the next five years. The knowledge can make it easier for these managers to design new models that can overcome the challenges emerging from a Trump presidency.
When the above measures are embraced, the corporations will understand how to streamline their supply chain processes, identify new sources of raw materials, and implement powerful business models that can withstand the anticipated challenges (Goldfarb, 2016). Additionally, the knowledge can be used to come up with new ideas that have the potential to support business performance. Businesses and corporations that fail to consider most of the issues raised by President Trump’s era will have higher chances of becoming obsolete.
References
Austen, I. (2017). Justin Trudeau, facing pressure to oppose Donald Trump, opts to get along. The New York Times. Web.
Business Council of British Columbia. (2016). Trump’s energy, environmental policies threat to Canadian business. Troy Media. Web.
Goldfarb, D. (2016). What Canada’s trade strategy should look like under Trump. MacLeans. Web.
Hendricks, B. (2017). How the Trump presidency could impact Canada. CPRS Toronto. Web.
Perez-Pena, R., & Austen, I. (2017). Justin Trudeau and Donald try to bridge some gaps while avoiding others. The New York Times. Web.
Tandt, M. (2017). Michael Den Tandt: Here are five ways Canada could benefit from a Trump presidency. National Post. Web.