12/03/24 Afternoon CommStock Report – Oh Canada!

DJTs tariff threat is just another brick laid on Canadians who are already struggling under the weight of 907.185 kilos (ton) of them. US consumers responded to inflation as the top concern in our election and Canadians have responded similarly. Prime Minister Justin Trudeau has just a 33% approval rating which is worse than Biden’s at 36%. We frequently talk to Canadians and their ire toward Trudeau is something that they all agree on. Things Canadians are worried about are not much different than what concerns Americans. They are focused on high rents and food prices. Canadian food prices have gone up 37% more than US food prices. They have a national health care system and yet 45% of Canadians express strong concerns over it. The average Canadian makes $22,000 less annually than the average US income. That makes labor costs cheaper in Canada. Home purchases and rent in Canada is twice as unaffordable as ours. The average Canadian income would not cover the cost of buying a home. More Canadians then are forced to rent, forcing rents higher. In 2023, the total value of trade between the United States and Canada was $774 billion, with the U.S. importing $421.1 billion…