{"id":17012,"date":"2025-10-24T11:05:48","date_gmt":"2025-10-24T11:05:48","guid":{"rendered":"https:\/\/topat10.com\/?p=17012"},"modified":"2025-10-24T11:05:48","modified_gmt":"2025-10-24T11:05:48","slug":"trump-shutting-down-trade-talks-with-canada-could-give-beijing-another-advantage","status":"publish","type":"post","link":"https:\/\/topat10.com\/?p=17012","title":{"rendered":"Trump shutting down trade talks with Canada could give Beijing another advantage"},"content":{"rendered":"\n<p>President Trump has terminated trade talks with Canada over an anti-tariffs ad featuring Ronald Reagan. If Canada\u2019s Prime Minister Mark Carney has any frustrations he wants to share about his southern neighbor, he may be able to do so with China\u2019s President Xi as soon as next week.<\/p>\n<div>\n<p>Hours ago, Trump wrote on Truth Social, the social media site he owns, that \u201call trade negotiations with Canada are hereby terminated.\u201d His fury was prompted by a Canadian TV commercial featuring President Reagan\u2014a legend among conservatives\u2014saying tariffs and trade barriers \u201churt every American worker and consumer.\u201d<\/p>\n<p>While President Trump <a href=\"https:\/\/www.youtube.com\/watch?v=5t5QK03KXPc\" target=\"_blank\" rel=\"noopener\" aria-label=\"Go to https:\/\/www.youtube.com\/watch?v=5t5QK03KXPc\" class=\"sc-5ad7098d-0 lcJVdL\">claimed the ad is \u201cfake\u201d<\/a>, the Ronald Reagan Presidential Foundation said the advert \u201cmisrepresents\u201d the radio address President Reagan made in 1987 on free trade.<\/p>\n<p>Yet ahead of the talks collapsing between Ottawa and Washington, Canadian officials said in a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-23\/carney-hopes-to-meet-china-s-xi-soon-in-bid-to-ease-trade-tensions\" target=\"_blank\" rel=\"noopener\" aria-label=\"Go to https:\/\/www.bloomberg.com\/news\/articles\/2025-10-23\/carney-hopes-to-meet-china-s-xi-soon-in-bid-to-ease-trade-tensions\" class=\"sc-5ad7098d-0 lcJVdL\">background briefing<\/a> that Carney is pursuing a \u201cstrategic relationship\u201d with China\u2014America\u2019s key adversary on the global economic stage, and its most robust opponent in the tariff war. <\/p>\n<p>The officials said Carney hopes to meet with the Chinese premier at the Asia-Pacific Economic Cooperation summit in Gyeongju, South Korea\u2014though nothing has been confirmed. The Canadian leader and former Bank of England governor is keen to talk to leaders from across the geopolitical spectrum, the aides added, but will be clear on the areas where Canada and China cannot cooperate. <\/p>\n<p>While Canada is, of course, free to pursue a relationship with the world\u2019s second-largest economy, it provides Beijing with another keen partner as it navigates a new relationship with America. <\/p>\n<p>So far Beijing\u2019s response to President Trump\u2019s tariff plans have been to come to the negotiating table but diversify its trading partners as well. <\/p>\n<p>According to data released by the General Administration of Customs earlier this month, China\u2019s shipments to the U.S. fell 27% in September, the sixth month of double-digit declines to its once most valuable customer. Meanwhile it charted strong growth to areas like the European Union (currently operating under a 15% tariff rate from the White House), leading to export growth to non-U.S. countries of 14.8%.<\/p>\n<p>The shift away from the U.S. means exports are actually up 8.3% in September compared with a year ago, raking in $328.6 billion\u2014its highest total for 2025 so far.<\/p>\n<p>This development comes a matter of days before a scheduled meeting between President Trump and President Xi, with the pair also due to meet at the South Korean summit. It comes after a yo-yoing rhetoric from the White House, and Trump threatened an 100% tariff on China come November.<\/p>\n<p>Beijing\u2019s Ministry of Commerce\u00a0maintained its steadfast rebuttal to the threat, and <a href=\"http:\/\/www.news.cn\/world\/20251012\/b1616d202ffb4d48a81abdadb242e17f\/c.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Go to http:\/\/www.news.cn\/world\/20251012\/b1616d202ffb4d48a81abdadb242e17f\/c.html\" class=\"sc-5ad7098d-0 lcJVdL\">said<\/a>: \u201cFrequently threatening high tariffs is not the right approach to engaging with China. China\u2019s position on a tariff war is consistent: We do not want one, but we are not afraid of one.\u201d\u00a0<\/p>\n<p>Trump quickly reversed course, saying he didn\u2019t want to \u201churt\u201d the Chinese economy and added he had a good relationship with President Xi. It\u2019s also worth noting that, in addition to reducing America\u2019s leverage by experimenting with its export markets, China maintains\u00a0<a href=\"https:\/\/www.ft.com\/content\/583abbd2-ffa8-4232-931f-66f55949b5d5\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Go to https:\/\/www.ft.com\/content\/583abbd2-ffa8-4232-931f-66f55949b5d5\" class=\"sc-5ad7098d-0 lcJVdL\">a stranglehold on the rare earth minerals<\/a>\u00a0that the U.S. doesn\u2019t have.<\/p>\n<h2 class=\"wp-block-heading\">The impact<\/h2>\n<p>Economists are largely unconcerned by the shift in tone between the U.S. and Canada. As UBS\u2019s Paul Donovan told clients this morning: \u201cThis has happened before, but past threats were over specific policies of the Canadian government. This time the trigger seems to be political advertisements \u2026 that might suggest a resolution is more difficult to come by. There is no policy measure that can be reversed in order to bring about a reset. <\/p>\n<p>\u201cHowever, financial markets are likely to be muted in their reaction, for now. The trade negotiations do not cover all trade or even most trade between Canada and the United States.\u201d <\/p>\n<p>He added: \u201cDespite the greater difficulties of engineering a U.S. climb-down this time, past experience does suggest that these sort of issues are resolved before too long.\u201d <\/p>\n<p>Markets are more concerned about the ramifications of Xi and Trump\u2019s meeting. \u201cIncreased uncertainty or antagonism in the Sino-US trade relationship would potentially have more serious economic consequences,\u201d Donovan added. <\/p>\n<p>Jim Reid of <a href=\"https:\/\/fortune.com\/company\/deutsche-bank\/\" target=\"_blank\" aria-label=\"Go to https:\/\/fortune.com\/company\/deutsche-bank\/\" class=\"sc-5ad7098d-0 lcJVdL\">Deutsche Bank<\/a> told clients this morning the confirmation of the meeting had \u201cbuoyed hopes of a d\u00e9tente between the world\u2019s two largest economies. This would be the first in-person meeting between the two leaders since Trump returned to office in January and comes as the current 90-day US-China tariff truce is due to expire on November 10.\u201d\n<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>President Trump has terminated trade talks with Canada over an anti-tariffs ad featuring Ronald Reagan. If Canada\u2019s Prime Minister Mark Carney has any frustrations he wants to share about his southern neighbor, he may be able to do so with China\u2019s President Xi as soon as next week. Hours ago, Trump wrote on Truth Social, [&hellip;]<\/p>\n","protected":false},"author":367,"featured_media":17013,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[123],"tags":[],"class_list":["post-17012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Trump shutting down trade talks with Canada could give Beijing another advantage | Unlock Informed Choices with Us<\/title>\n<meta name=\"description\" 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Pringle","author_link":"https:\/\/topat10.com\/?author=367"},"uagb_comment_info":0,"uagb_excerpt":"President Trump has terminated trade talks with Canada over an anti-tariffs ad featuring Ronald Reagan. If Canada\u2019s Prime Minister Mark Carney has any frustrations he wants to share about his southern neighbor, he may be able to do so with China\u2019s President Xi as soon as next week. Hours ago, Trump wrote on Truth Social,&hellip;","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/posts\/17012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/users\/367"}],"replies":[{"embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17012"}],"version-history":[{"count":0,"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/posts\/17012\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/media\/17013"}],"wp:attachment":[{"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}