US: Trade rhetoric seen as market noise – UBS
Par FXStreet Insights Team
Date de publication: 11 Feb 2026 | Date de modification: 11 Feb 2026
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UBS’s Paul Donovan comments on US President Trump’s social media attacks on Canada, including threats to block a US-Canada bridge and link a Canada-China trade deal to ice hockey in Canada.
UBS’s Paul Donovan comments on US President Trump’s social media attacks on Canada, including threats to block a US-Canada bridge and link a Canada-China trade deal to ice hockey in Canada. Donovan argues such outcomes are unlikely and expects markets to discount this rhetoric, noting that several threatened tariffs on Canadian and Iranian-linked trade have yet to materialize.
Trump threats and market reaction
"US President Trump’s social media accounts published an attack on Canada, threatening to block the opening of a US-Canada bridge (named after a Canadian hockey player), and suggesting a Canada-China trade deal would end the playing of ice hockey in Canada."
"This seems an unlikely outcome in the post-“Heated Rivalry” environment."
"Despite the tone of the statements, markets are likely to discount this rhetoric (tariffs on US importers of goods from Iranian trading partners, 100% tariffs on US importers of Canadian goods, and 50% tariffs on US importers of Canadian aircraft have yet to materialize)."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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