It looks like we’re in another round of Donald Trump saying incredibly intelligent things, with “Lake America” now joining our lexicon. That he chose the smallest of the Great Lakes by surface area to carry the name feels like a metaphor for something. I’ll leave it to you to decide what.
Either way, here we are in August 2026, with tariffs and countertariffs once again capturing the headlines.
Canadians say the Americans are out of line.
Americans say the Canadians are out of line.
It reminds me of walking into a room where my two boys are arguing: both talking at once, both explaining what the other one did, and both absolutely certain this whole thing is someone else’s fault.
I’m in a fortunate spot. My industry doesn’t really have much at stake in any of this.
A lot of our friends and neighbours aren’t so lucky.
People who chose a career 10, 20 or 30 years ago—without giving a second thought to tariffs, trade wars or whatever political fight might be happening decades later—have suddenly found themselves on the front lines of this one.
Through no fault of their own, their jobs, businesses and livelihoods have become bargaining chips in the latest round of global political horse trading.
It’s easy for the rest of us to follow along, have an opinion about who’s right or wrong, and wonder what it all means for our portfolios.
For some people, this isn’t a story about their portfolio.
It’s their paycheque.
Discussion