Good morning.
Insurance is the science of balancing probabilities and consequences. The higher the chances that something will happen, the more it will cost you to insure against its consequences. The more you can do to reduce that likelihood – whether it’s setting off an alarm or visiting a threatened president-elect impose customs duties of 25%. on everything you export to their country—the less likely those negative consequences are likely to occur.
That was apparently the hope for Canadian Prime Minister Justin Trudeau in the race down to see President-elect Donald Trump on Friday. At the Truth Social, Trump described the meeting as “very productive,” underscoring Trudeau’s commitment to border security.
What are the odds that the US will impose high tariffs on its own the two largest trading partnerswhose supply chains are integrated with US companies as part of a free trade zone? Not high for Canada, in my opinion, because the fix doesn’t involve complex economic disputes like Canadian exports of softwood lumber or hers drug price controls. Instead, Canada must commit to stemming the flow of illegal immigrants and drugs coming into the US
The risk is more acute, but still relatively low, when it comes to the southern border of America. Mexican President Claudia Sheinbaum expressed her belief last week that a tariff war could be avoided after a phone conversation with Trump.
Has such an approach reduced the prospect of a tariff war to zero? Not. But encouraging rhetoric from all sides can reduce fears to the point where it’s almost business as usual. (Let’s wait and see how the threat of 100% of the tariff now they face the BRIC countries.)
Fear is a difficult emotion to suppress, even if it is not based on real threats. Take, for example, the supposed panic over the possibility of using period tracking apps monitor abortions. Our CEO Tom Hale, whose ring can track sleep, fertility and more, insured Wealth that the Finnish company is bound by customer preferences, not to mention privacy laws in the US and Europe.
“I don’t know of any cases where someone’s biometrics have been challenged or used against (people),” Hale said. “It’s probably more of a statement about the political atmosphere. That said, it’s important to make that risk zero if we can.”
In the meantime, emphasizing the low probability of these rumored consequences may help reduce panic.
More news below.
Diane Brady
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This edition of CEO Daily is prepared by Ian Mount.
