Business consultant and commentator Kirk Lubimov is warning that Canada’s escalating trade fight with the United States could backfire, as tariffs squeeze Canadian industries and Washington looks elsewhere for energy.
On today’s episode of Straight Up with Marc Patrone, Lubimov breaks down the latest Canada-U.S. trade tensions, including President Donald Trump’s threat to block Bombardier sales in the U.S. and Canada’s roughly $20 billion in retaliatory tariffs.
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“This is such a good example because Bombardier is heavily involved into the U.S. economy,” Lubimov says, pointing to the thousands of American jobs tied directly and indirectly to the Canadian aerospace giant.
Lubimov also weighs in on the collapse of Canada-U.S. trade talks, arguing tariffs are particularly damaging to deeply integrated industries such as auto manufacturing, where parts can cross the border several times before a finished vehicle rolls off the line.
Plus, Lubimov takes aim at Ottawa’s efforts to attract investment while Canadian projects remain tangled in regulation, questioning how the government can sell Canada to foreign investors when domestic companies are reluctant to put their own money on the line.
Finally, Lubimov warns Canada could lose ground in its most important energy market as the U.S. turns increasingly to Venezuelan heavy crude. With Canadian export capacity constrained and new pipelines potentially years away, he says the country risks losing investment and being left with nowhere to ship additional oil production.
