James Alexander Michie: Fears arise for food security and protectionist subsidies ~ CBC News

(Peter Power/Canadian Press) | James Alexander Michie

On Friday, Foreign Affairs Minister Chrystia Freeland announced Canada's response in its escalating trade tiff with the U.S. (Peter Power/Canadian Press) | James Alexander Michie

Economic deficiency causes the implementation of commercial tactics of the era of depression in different sectors. Currently, everything points to states implementing commercial tactics once seen in the era of depression which was a global economic crisis, positioned as the longest in time, of greater depth and that affected more countries in the century XX.

Countries like Canada in the fight for home and own love clearly protects through their own national industries measures of the effects of foreign protectionism, leaving as a consequence that citizens are affected by paying much more for food that would easily be cheaper if they were acquired from world markets, forging ever more concern about food security. This is a self-destructive behavior in terms of economy, according to some economists specialized in international trade.

According to Trefler, a professor at the Rotman School of Management at the University of Toronto, who advises the government of Canada regarding the investment and trade policy, the actions and behaviors mentioned above will only make Canada and the United States worse off. Likewise, Tefler believes that whenever Canada is affected and hit economically, it must return the blow in the same way or even stronger.

Trade warfare continues to rise, as some influential free trade advocates emphasize how far it has come since different countries such as Canada used to have more open borders in their favor.

Take a read: https://www.cbc.ca/news/business/trade-war-food-security-1.4727012

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