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In today’s post we’ll look at how the tumultuous start to the Trump Presidency is likely to affect Canadian mortgage rates, because really, given the current news cycle, how could we not?
Last week President Trump announced a series of controversial immigration measures that touched off waves of condemnation both at home and abroad. The implementation of these new measures served as confirmation, and a warning, that President Trump plans to follow through on the promises he made on the campaign trail, even in the face of overwhelming opposition. Say what you will about President Trump - he is doing what he said he would as candidate Trump.
This is a concerning development for America’s main trading partners, who until last week might have held out some hope that President Trump’s protectionist trade rhetoric would eventually be tempered by the light of cold, hard economic reality. But we now find ourselves in a world where every traditional, evidence-based warning by economic experts about the damage that trade barriers will inflict on the U.S. economy is met with “alternative facts” that are free from any burden of proof (or reality).
To cite a few examples: