Thank you very much for the question.
I'll tie this with something that Mr. McKay said earlier. What the Trump administration is consistent on is wanting to promote American investment and stand up for what it perceives as unfair practices around the world. This whole “make America great again” and “put America first again” is real. There is real support by millions of Americans for that idea. What that means is that you have an aggressive trade enforcement regime. We see that with Secretary Ross. We see that with Mr. Navarro. I think you'll see that with Mr. Lighthizer when he's confirmed as the U.S. trade representative. You have a very “America first” attitude, and that is supported. That's politically popular in the United States, just as a “Canada first” position would be here, in theory, although Canadians are more globalists and more trade supporting, as a general statement, than Americans are at the moment, politically.
That having been said, you're right to observe that the President is flexible in his tactics and approaches, so whatever negotiating posture he thinks gets him the furthest along in what he needs to do is what he'll take. I think the reality of the position of president is really sinking in. Whereas the campaign rhetoric was really strong—isolationist, “America first”, and whatever—the reality of an interconnected world in U.S. foreign policy is that you have to govern in a much more nuanced way. I think we've seen that with the President not backing down on Russian sanctions, not calling out China as a currency manipulator, and all of the other things that he said. I think he's consistent in the “America first” idea, but I think the reality of a complicated foreign policy is dawning on him. However, on trade in particular, enforcement will be what he leads with. That is what is so troubling to our trading partners—in particular, our best trading partner, which is right here in Canada.
Merci.