Down to Business Podcast Episode 108
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The coronavirus pandemic has forced Canada to close its border with the United States to all but essential traffic. More than a year later, it remains closed and the two countries have experienced the pandemic in radically different ways.
This week on Down to Business, David Jacobson, former US Ambassador to Canada from 2009 to 2013, and Vice President of BMO Financial Group, spoke about what is happening in the relationship between Canada and its biggest partner. commercial, the United States.
The border closure has certainly had economic impacts, Jacobson said, but not all impacts can be measured. Some impacts have been unexpected: for example, more Canadians vacation in the United States than the other way around, and so the border closure may in fact have created positive effects on the Canadian economy.
Nonetheless, he said cutting off traffic for such a long time has an untold impact on the efficiency of many businesses. We also talked about what lies ahead as new US President Joe Biden abandons Trump’s trade tariffs and enacts new policies like President’s “Buy American” designed to ensure government contracts go to domestic companies. As always, the interview has been edited for clarity and brevity.