Canada has outgrown our close relationship with the U.S., writes Peter Watson.
Like any relationship, puppy love is a wonderful thing. But at a certain time, you know when it is time to move on.
Canada is looking for a mature relationship with countries that we can trust, which have integrity, and consistency. Not with a leader who changes his mind consistently, including often in mid-sentence. That eventually wears thin.
We still care for the millions of Americans we consider to be our friends. Unfortunately, their country has drifted in an unknown direction.
Regrettably, the checks and balances written in the American Constitution have somehow evaporated. The chaperones of the presidency are missing in action.
An immediate problem is the automobile industry, which is concentrated in Ontario. U.S. tariffs could destroy car companies, and we would lose high-paying jobs for our workers. That affects our economy and standard of living. We need new partners to preserve this industry.
Canada has opened its borders to Chinese cars. The goal is to have these cars made in Canada and to protect the car-building industry, which is critical to Ontario. Another similar strategy being considered by the federal government is to buy fighter jets from Sweden on the condition that they be built in Canada.
In time, we will look back on our close ties with America with fondness. But for now, we must take control of our future and forge new relationships.
The U.S. breakup is our past. Our future presents a world of opportunities.
Peter Watson, of Watson Investments MBA, CFP®, R.F.P., CIM®, FCSI offers a weekly financial planning column, Dollars & Sense. He can be contacted through www.watsoninvestments.com.
