Alice Han

But at the end of the day, there's a lot of money on the table and a lot of vested interests in those countries.

that want to see business between the two countries.

You know, we can go into the numbers, but that's sort of my broad brushstroke view of why these countries are moving, it seems, in lockstep.

And everyone will be convening in Davos, as you know.

They're all convening on this sleepy, snow-capped town of Davos, where I think a lot of drama will happen.

I would agree with you, James.

You know, the expression, while the cats away, the mice will play.

I'm thinking maybe the Canadians and the Europeans and the mice in this analogy.

As long as the U.S.

is subsidizing their national security and is running a trade deficit with those two trading blocs, Canada and the EU.

It's just a natural bedfellow for those two regions of the world, whereas China, the opposite, is a national security threat and is running massive trade surpluses.

So I think this is a tactical short-term move in order to extract some short-term gains rather than a strategic pivot.

And certainly in the short term, some agricultural producers in Canada and the EU will benefit.

Airbus, we haven't talked about, will likely benefit as well.

China's already considering purchasing more French and European aircraft.

And Airbus' market share in China is already 55%, which just recently overtook U.S.

's Boeing's market share.

So there are some winners and losers, but I think I broadly agree with you, James, that this is a tactical move as opposed to a strategic one.

But we'll see how Greenland blows up, because if Trump's threat of tariffs do get put into place, the 10% that he's threatening on the European countries effective February 1, we might be in for a broader EU-US trade conflict in mirror image of what we saw last year between China and the US.

Yeah, I mean, this might be a little bit facetious, but there probably is no better way to unify the Europeans than to hit the Greenland button, which we've seen in the last few days.