Since late January, a protest sparked by some Canadian truckers in opposition to Covid-19 vaccine mandates has caused a lot of disruption for car factories in the Great Lakes region. The protest has brought trade to a halt along the Ambassador Bridge, which carries a quarter of trade between the United States and Canada.
The jam comes just as Canada reclaims the title of America’s biggest trade partner from China. And keeping along that theme of international trade, the U.S. Bureau of Economic Analysis revealed that 2021 saw a record high trade deficit of $859 billion.
Today, Darian Woods and Adrian Ma present their indicators of the week. A look at the Freedom Convoy protests and trade deficits. What do they mean for the economy?