When the next crisis hits, global markets may not be able to count on America's financial backstop

The new prime minister is a seasoned economist unafraid to stand up to bullies. He vows to continue with tit-for-tat tariffs until America "respects Canada's sovereignty".

Tariffs and countermeasures are fracturing the system of globalisation on which the post-Cold War world was built. Prosperity and interconnectedness may break with it. The world stands on the brink.

Canadian exports to its southerly neighbour reached $440bn last year so talk of the United States slapping customs duty on those goods has triggered a tête-à-tête

Trump's upcoming presidency comes with great uncertainty for global markets, considering his economic policies, which are widely viewed as extreme. He is expected to ramp up America's trade war with…

In late June, the leaders ofChinaandthe United Statesannounced at the G-20 meeting inOsaka, Japan, that they had reached a détente in their trade war.U.S.PresidentDonald Trumpclaimed that the two…