Canada-US Trade War Could Permanently Alter Cross-Border Trade

A trade war between Canada and the US could permanently alter cross-border trade, according to economist Peter Schiff.

New tariffs and the unreliability of the US as a trading partner are prompting Canadian companies to seek out different markets and set up new trade deals.

'To the extent that over the next few years other relationships are established, they may not be so easily unwound,' said Schiff, chief economist and global strategist at Euro Pacific Asset Management.

The shift away from the US could become even more pronounced if the US dollar weakens, making it less attractive as a trading partner.