O'Leary warns Trump, Trudeau's 'very negative' relationship has 'just gotten worse'
Published On Mar 3, 2025, 12:06 PM
Kevin O'Leary has stated that the relationship between the U.S. and Canada has worsened due to ongoing tensions caused by President Trump's proposed tariffs on Canadian goods. The tariffs, including a 25% charge on imports from Canada to combat drug flow, are set to take effect on March 4. O'Leary highlighted that the political climate between Trump and Canadian Prime Minister Justin Trudeau is very negative, further fueled by Trudeau's anti-Trump rhetoric. Additionally, Canada will face a 10% tax on energy products. The situation's escalation has resonated within Canadian public sentiment, leading to visible signs of anti-American sentiment in events such as sports.
Stock Forecasts
XLE
Negative
The worsening relationship between the U.S. and Canada, alongside the new tariffs, may lead to increased costs for Canadian exports to the U.S., potentially impacting Canadian companies dependent on trade. There will likely be negative sentiment towards Canadian companies, especially in the energy sector, as the tariffs are expected to raise costs for Canadian oil and electricity products.
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