Trump’s Canada bridge meltdown dismissed by UBS as an unlikely TACO trade ‘in the post-Heated Rivalry environment’

A year ago, if the Oval Office had threatened to axe a major piece of infrastructure shared with Canada, markets would have been in disarray. But it’s February 2026, and investors barely batted an eye.

Overnight, President Trump made a series of threats against the Canadian government, including blocking the Gordie Howe International Bridge, which connects the state of Michigan with the Canadian province of Ontario and was expected to open this year.

The reason for the furore appears...