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The Conversation
The Conversation
Dustin Fergusson-Vaux, Doctoral Candidate, Department of Political Science, University of Waterloo

Canadians can’t afford to relax barriers to foreign entry in their banking system

The Bank of Canada's head office seen in 2019. Capitulating to U.S. pressure could push Canada toward a more deregulated financial environment. (Bank of Canada/Flickr)

United States President Donald Trump has made calls to ease Canadian regulatory barriers on foreign-owned banks. His criticism highlights a recurring, but often overlooked, threat to Canada: monetary sovereignty.

Alongside his material threats to use economic force to annex Canada, Trump’s repeated grievance raises concerns about Canada’s ability to maintain control over its financial system at a time when such control is crucial.

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