Marc Ross Daily | March 5
Marc Ross Daily is geopolitical business news + intelligence for senior executives + comms pros.
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Happy Wednesday.
Here’s today’s Marc Ross Daily:
*** Ross Rant ***
Trump to #GlobalGreatLakes: Drop Dead
+ "The trouble with tariffs, to be succinct, is that they raise prices, slow economic growth, cut profits, increase unemployment, worsen inequality, diminish productivity, and increase global tensions. Other than that, they’re fine." -- David Kelly, Chief Global Strategist @ JP Morgan Asset Management
In today's interconnected global economy, the promise of protection through isolation is more a mirage than salvation. Sure, a policy of protectionism is good politics, but it is poor economics.
President Trump's push toward aggressive tariff policies signals troubling times ahead for those living and working in the Global Great Lakes region—where economic prosperity depends on seamless cross-border collaboration.
The economic ecosystem spanning the US-Canadian border isn't just about trade statistics; it's about real communities whose livelihoods depend on manufacturing supply chains that crisscross international boundaries. Our region has flourished precisely because of the symbiotic relationship between manufacturing, agriculture, and global trade.
History has repeatedly shown that trade partners rarely absorb tariffs passively. Nations defending their economic sovereignty respond with countermeasures, creating a cascade effect that amplifies economic downsides far beyond feel-good talk and political talking points that Trump administration staffers spout to friendly media outlets.
Trump's economic policies threaten the Global Great Lakes region.
These policies aren't abstract. These policies translate directly to:
- Higher costs for manufacturers who rely on imported components
- Restricted market access for agricultural exports
- Disrupted supply chains that took decades to optimize
- Diminished competitiveness in global markets
Because of Trump's tariffs, businesses, entrepreneurs, and consumers now face increased friction and economic hardship instead of the promised protection. The policies that Trump administration staffers claim will revitalize manufacturing will now stifle growth and undermine the financial security of those living and working in this interconnected region.
The Global Great Lakes economy wasn't built on isolation but on collaboration. The region's strength comes from leveraging comparative advantages across borders, not erecting barriers between partners.
Business and civic leaders must advocate for commonsense trade policies recognizing regional economic realities.
The future of communities in the Global Great Lakes depends not on divisive economic nationalism but on recommitting to the cooperative approach that made our region an economic powerhouse in the first place.
Enjoy the ride + plan accordingly.
-Marc
*** Globalization + Geopolitics ***
Toronto Star: THIS MEANS (TRADE) WAR
G+M: ‘We’re going to fight, we’re going to win,’ Trudeau says
AFP: 'Renewed nationalism each time Trump makes a move against Canada'
Elbows up, Canada! In the face of Trump tariffs, call to arms hits social media: Calgary Herald reports Canadians called to mobilize and wield power of their wallets in response to across-the-board tariffs imposed by United States.
Justin Trudeau slams Donald Trump’s ‘totally false’ justification for tariffs: Toronto Star reports Trudeau says Canada will retaliate in a "trade war" that Trump launched using border security as a "pretext" to ruin this country's economy.
WP: Trade war escalates as China, Mexico, Canada retaliate
+ @JustinTrudeau: Today, the United States launched a trade war against Canada: their closest partner and ally — their closest friend. Canadians are reasonable, but we will not back down from a fight. Not when our country is at stake.
+ "The trouble with tariffs, to be succinct, is that they raise prices, slow economic growth, cut profits, increase unemployment, worsen inequality, diminish productivity and increase global tensions. Other than that, they’re fine." -- David Kelly, Chief Global Strategist @ JP Morgan Asset Management
Bloomberg: Trump’s goal in trade war is to annex Canada, Trudeau says
+ Canada discussing non-tariff measures against US, PM says
+ US claims about Canada drug trafficking are ‘bogus’: Trudeau
+ A new YouGov survey found that 82 percent of US residents viewed Canada as a friend or ally, with six per cent considering it as unfriendly, or an enemy.
Justin Trudeau channels an insulted Canada’s anger with Donald Trump Susan Delacourt
Donald Trump is trying to destroy Canada: The US’s tariffs are meant to break us. The only thing that they’ve certainly broken is the trust between historically close neighbours - maybe forever. Andrew Coyne
Trump wants to go back to 1913. Canadians and Americans will suffer the consequences: Turning back the clock would be neither easy nor painless. Aaron Wherry
Canada and Mexico gambled on a free trade future. The bet is turning sour. US tariffs imposed Tuesday mark the end of a decadeslong era in North America. WSJ
Xi just got the chance he’s been waiting for: Beijing is positioning itself as the global grown-up, while the US disrupts decades of stable foreign policy. Karishma Vaswani
China retaliates against Trump tariffs as superpower trade war escalates: NYT reports Beijing imposed broad tariffs on imports of American food and said that 15 US companies could no longer buy from China without special permission.
Never mind Trump’s tariffs. The Chinese Communist Party is defiant. Chinese leaders are gathering in Beijing for their annual confab and, despite the slowing economy and an escalating trade war, they are projecting confidence. WP
Trump’s trade war could be his biggest economic gamble: President Trump has offered a confusing mix of reasons for upending global trade relations, leaving America’s biggest trading partners baffled and angry. NYT
No one wins a trade war: Protective tariffs risk triggering a cycle of escalation that ends well for no one. William J. Bernstein
+ "The test of policy is how it ends, not how it begins." -- Henry Kissinger
The economic costs of Trump’s assault on the global order: America is trying to undo the very system of open trade that it created. Martin Wolf
WP: Tariff compromise with allies will ‘probably’ come soon, Lutnick says
Global News: Trump may meet Canada, Mexico ‘in the middle’ on tariffs Wednesday: Lutnick
AP: Howard Lutnick says Trump will reach a tariff compromise with Canada, Mexico
+ @l_stone: #BREAKING: Commerce Secretary Howard Lutnick called Premier Doug Ford today after his press conference - call described as "tough" and "aggressive" with Lutnick telling Ford to stand down. Premier said no and that if anything, he'll go harder, acc to 2 senior govt sources #onpoli
Reuters: Italy farm lobby worried about US tariffs' impact on Prosecco and Parma ham
Reuters: EU debates support for Europe's steel industry as US tariffs loom
The art of the peace deal: Can talks between the US and Russia reach a lasting settlement over Ukraine? So far, argues historian Margaret MacMillan, the signs are not looking good. FT
Vance ignites outrage in Britain with ‘random country’ comment: NYT reports the vice president denied that he was talking about Britain and France when he downplayed “20,000 troops from some random country” protecting Ukraine. No other countries have pledged troops.
Europe reacts with outrage to Vance insult: Semafor reports the vice president dismissed European nations’ offers to send peacekeeping forces to Ukraine in a Fox News interview Tuesday.
The Times: JD Vance ‘disrespected war dead’ with troops remark, say veterans
Vance ignites outrage in Britain with ‘random country’ comment: NYT reports the vice president denied that he was talking about Britain and France when he downplayed “20,000 troops from some random country” protecting Ukraine. No other countries have pledged troops.
+ @afneil: JD Vance dismissing Britain as ‘some random country’ which hasn’t ’fought a war for 30/40 years’ is beneath contempt. British forces fought alongside US troops in Iraq (twice) and Afghanistan. In recent years. Is he stupid? Or just ignorant?
Volodymyr Zelensky expressed regret that his meeting with Donald Trump ‘did not go the way it was supposed to.’
Zelensky offers terms to stop fighting, assuring US that Ukraine wants peace: NYT reports: “We are working on all possible scenarios to protect Ukraine,” said President Volodymyr Zelensky, whose country was looking to European allies for support.
The lesson from Trump’s Ukrainian weapons freeze: And the grim choice facing Volodymyr Zelensky. Economist
Russia sends warship into Channel to escort suspected arms shipment: The Times reports a sanctioned cargo vessel was given armed protection to transport military hardware from Syria for possible use on the front line in Ukraine.
EU floats $158 billion fund to boost military spending after US halts Ukraine aid: WSJ reports the package allowing higher military spending marks a sea change in the bloc’s approach to defense.
Germany will set up a €500 billion ($528 billion) fund as part of a sweeping policy overhaul to tackle urgently needed investments in defense and infrastructure, according to chancellor-in-waiting Friedrich Merz.
FT: Germany’s Merz strikes ‘game-changing’ deal to boost defence spending
Reuters: Pope Francis battles pneumonia - and rumours of resignation
‘Malaparte’ review: Soldier, diplomat, writer, enigma: Curzio Malaparte was an Italian war hero and an envoy for Mussolini. His bracing, strange writing survives. David Mason
Record number of Americans apply for UK citizenship: FT reports the election of Donald Trump and British tax changes are believed to be behind 40% rise in applications.
Denmark to ban mobile phones in schools and after-school clubs: Guardian reports government accepts advice of commission that also says children under 13 should not have their own smartphone.
TST: French Navy aircraft carrier visits Singapore as part of 5-month mission in region
Taiwan says 'impossible' for US to abandon Indo-Pacific: DW reports Taiwan says it will increase its defense spending and help its semiconductor industry expand to the US — both issues that Trump had complained about.
‘Chips on the table’: Taiwan pushes for closer US ties as China threat looms: Trump-Zelenskyy clash crystallises fears about whether a more volatile White House will back Taipei. FT
Egypt unveils $53 billion plan to rebuild Gaza as alternative to Trump's proposal: Le Monde reports the reconstruction plan places Gaza under Palestinian Authority control while sidelining Hamas, with security forces trained in Egypt and Jordan to maintain order.
Trump says he is open to a trade deal with Argentina: BAT reports US President Donald Trump responds positively to question speculating over likelihood of US-Argentina free-trade deal.
The ‘hustling expert’ behind Argentina’s $250 million crypto scandal: Hayden Davis had a string of short-lived business ventures when he met Javier Milei. Together they pumped a crypto token that’s shaking Milei’s presidency. WSJ
Foxconn’s planned mega-AI server plant near Guadalajara, Mexico, will complete construction in a year despite the threat of new tariffs from President Donald Trump, according to Jalisco Governor Pablo Lemus Navarro.
Track one car part’s journey through the US, Canada, and Mexico—before tariffs: No sector is as exposed to possible Trump tariffs as the auto industry. WSJ
How Donald Trump’s tariffs threaten an iconic US pick-up truck: Chevrolet Silverado’s complex supply chain leaves it particularly vulnerable to a looming trade war. FT
How Trump’s tariffs will crush American carmakers: They must hope the levies do not endure. Economist
At the Windsor-Detroit border, truckers feel blunt impact of trade war: Busy truck stops in the border town were empty on Tuesday as tariffs took effect, but residents in the area were divided on Trump’s trade escalation. G+M
Global News: Trump tariffs mean auto sector ‘will shut down within 10 days’: Doug Ford
Trump tariffs set to raise US auto industry's costs by $61bn: Nikkei reports duties on Mexico, Canada could slash new-vehicle demand by 12% this year.
Experts: Auto industry can only tolerate Trump tariffs on Mexico, Canada for a few weeks Detroit Free Press
AFP: 'We will endure': Mexican truckers stoic in face of Trump tariffs
Australia, with no auto industry to protect, is awash with Chinese EVs: The United States has effectively banned Chinese electric vehicles over concerns about unfair trading practices and national security. Not so in Australia. WP
*** US Politics + Elections ***
NYT: Trump tells Congress that he is ‘just getting started’
+ Says US is ‘reclaiming’ Panama Canal and will ‘get’ Greenland
+ President Trump assailed Biden-era policies and mocked Democrats. Some Democrats turned their backs on him, wearing T-shirts with the word “Resist.”
WP: Trump ‘appreciates’ Zelensky overture in foreign policy remarks
+ President touts actions as cheers, heckling greet first speech of second term
WSJ: Trump touts early actions, says he’s ‘just getting started’
+ In his speech to Congress, the president stood behind his tariffs and cheered Musk’s DOGE moves
Wondering how America got here? COVID is a big part of the story. David Wallace-Wells
Trump is walking into danger on his tariffs: The president’s tariffs on Canada and Mexico are due to start Tuesday, but the polling and economic dynamics point to political peril. Aaron Blake
WSJ: Trump’s tariffs spark retaliation, whipsawing stock markets
Fortune: Target CEO joins swarm of Fortune 500 executives warning of bigger bills as Trump’s tariff fallout hits the grocery aisle
+ Target shoppers can expect to see price increases on produce “over the next couple of days,” boss Brian Cornell said on Tuesday.
Donald Trump’s tariffs will bring ‘nothing but pain’ to rural America, farmers say: FT reports the agriculture industry warns customers are looking elsewhere for key commodities.
Detroit Free Press: Michigan Democrats pounce on tariffs, say Trump move could hurt state badly
Republican mayor braces for tariffs: 'We didn't budget for this': Mayor Bryan Barnett of Rochester Hills, Michigan, says Trump’s Mexico and Canada tariffs will cause a hit to his city’s coffers — and its auto industry. Bloomberg
America vs. the World: Trump shows how far he is willing to take ‘America First.’ President Trump has frayed alliances across the globe with his words and actions. NYT
Congressional Republicans bristle at Trump’s tariffs: Semafor reports: “What does the stock market think of them?” one senator responded. “That tells you something.”
Trump seeks to put 443 federal properties up for sale: Bloomberg reports the government’s list of “non-core” assets totals almost 80 million square feet of commercial space across 47 states, Washington DC and Puerto Rico.
Veterans, who make up a disproportionate share of federal employees, are feeling the brunt of the Trump administration’s rapid push to downsize the workforce, generating discord in a reliable political base for Republicans.
This DOGE staffer’s GitHub posts might help us understand how Elon Musk wants to bring AI into the government: Jordan Wick’s GitHub posts reveal tools for analyzing federal employees and their digital histories, raising questions about how Musk’s government efficiency group wants to wield AI. Wired
How Elon Musk could spark a government shutdown Ed Kilgore
Tesla charging stations torched in apparent arson near Boston, latest attack on Elon Musk company: NBC News reports this could be the latest in a string of fires intentionally targeting the electric vehicle company owned by the billionaire Trump adviser.
AFP: Tesla shares fall on weak China auto sales
Tesla is down $207 a share since the middle of December.
Commerce to overhaul ‘Internet for all’ plan, expanding Starlink funding prospects: WSJ reports agency plans changes that will make Elon Musk’s satellite-internet service eligible for more rural broadband funding.
Reuters: US CHIPS Act office lays off about a third of its staff, sources say
Trump’s rollback of AI guardrails leaves US workers ‘at real risk’, labor experts warn: Measures issued by Joe Biden were swiftly repealed, leaving employees vulnerable to downgraded jobs. Guardian
People are paying millions to dine with Donald Trump at Mar-a-Lago: Business leaders are paying as much as $5 million to meet one-on-one with the president at his Florida compound, sources tell Wired, while others are paying $1 million apiece to dine with him in a group setting.
AL-SEN: Sen. Tuberville (R-AL) is telling associates and other senators that he wants to run for governor in 2026 instead of seeking reelection to the Senate.
A Michigan Senate race is wide open … again: Republicans look for a 21st-century Senate win. Nat Journal
Google is urging officials at President Donald Trump’s Justice Department to back away from a push to break up the search engine company, citing national security concerns, according to people familiar with the discussions.
*** Distribution + Innovation ***
The mysterious billionaire behind the world’s most popular vapes: Geekvape, Lost Mary, Elf Bar, and other top disposable brands all trace back to one man in Shenzhen. Bloomberg
China races to govern the country with DeepSeek -- but at what risk? Worries over AI 'hallucinations' and data security take a back seat to FOMO. Nikkei
Reuters: Big Tech opposes YouTube exemption from Australia's ban on social media for children
Reuters: Apple launches new iPad Air with AI features to stoke demand
Bloomberg: Tencent’s AI bot passes DeepSeek as China’s favorite on iPhones
AI massage startup raises $83 million, brings robots to Equinox: Bloomberg reports massage startup Aescape is raising money from investors including Valor Equity Partners and basketball player Kevin Love.
UM set to use AI to 'benefit society' in consortium of 15 universities working with OpenAI: Detroit News reports the University of Michigan is among a consortium of 15 universities and institutions that will work to accelerate research breakthroughs with artificial intelligence in collaboration with OpenAI, a non-profit research company that created ChatGPT.
GM hires first-ever artificial intelligence chief: Detroit Free Press reports Barak Turovsky is the company's first ever artificial intelligence chief. Turovsky, 49, has more than 25 years of artificial intelligence experience, GM said, most recently serving as vice president of AI at Cisco. He previously held leadership roles at Google as head of product for languages artificial intelligence. He will work out of GM's Mountain View Technical Center in California, which opened last year.
*** Culture ***
Here’s why Zelensky didn’t wear a suit to the Oval Office: Donald Trump, JD Vance, and conservative commentators took issue with the Ukrainian president’s attire but, as Jeremy Langmead reports, he has his reasons. The Times
Chinese architect Liu Jiakun wins 2025 Pritzker Prize: The Chengdu native is known for his thoughtful approach and his use of salvaged and remade materials. FT
*** Sport ***
The United States is becoming a global sports supervillain Will Leitch
Analytics transformed sports. Has it also made them less entertaining? The “Moneyball” era changed how teams play, coach and are built. But the quest for efficiency is increasingly being blamed for robbing sports of their beauty. WP
AFP: Mavs' Irving ruled out for season with ACL injury - reports
Detroit v Ferrari: Four Cadillac Hypercars lead Motown assault on 2025 Le Mans Detroit News
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Marc Ross Daily | March 5
