📝Canada And Mexico Much More Sensitive to Tariffs Than U.S.: Nordea

Trump holds significant leverage over his neighboring countries. The three North American countries are very well integrated, but tariffs would hurt Canada and Mexico much more than the US, because their economies are very dependent on trade. Trade makes up about 70% of GDP for both countries and the US accounts for more than 70% of both of their total export. Tariffs would deal a devastating blow to the automotive sector in Mexico and a big blow to the critical energy sector in Canada. - Nordea