Across this land, Donald Trump is firing up the national spirits of Canadians.

Since he came to power last month, the new U.S. President has threatened to impose crippling tariffs on Canada’s economy and expressed a desire to annex it as the 51st state.

How are Canadians reacting?

A Leger poll taken this week shows Trump is stoking both anxiety and patriotism among his northern neighbours.

The number who said they feel proud to be Canadian spiked to 85 per cent, up from 76 per cent in a poll taken in June before Trump took power.

Canadians are also turning their back on the border. A total of 56 per cent of Canadians say they will not travel to the United States or have cancelled plans to do so. Only 11 per cent said they will make no change.

The highest percentage was in Quebec where 59 per cent of respondents said they would not travel to the United States. The lowest was in Alberta at 42 per cent.

In Manitoba, the International Peace Garden that straddles the border with North Dakota has celebrated the friendship between the United States and Canada for 90 years. This year, Canadians are telling park officials they won’t be visiting.

“I have received strong emails from individuals in our local communities and cannot fault them for feeling the way they do,” Tim Chapman, the garden’s chief executive, wrote in a recent message to supporters, The Canadian Press reports.

If Canadians are protesting Trump’s actions with their feet, they are also fighting back with their wallets.

An even higher percentage, 81 per cent, say they are or plan to significantly increase buying Canadian-made goods when shopping. Almost 60 per cent say they will stop buying U.S. alcohol.

Streaming services like Netflix and Disney are another issue. Only 28 per cent said they would cancel these U.S. services, possibly because they are few alternatives.

The looming threat of tariffs is also stoking fear among Canadians. Eighty-six per cent of those surveyed in the Leger poll said they were worried that economic conditions would worsen in the next six months. In Atlantic Canada that percentage rose to 93 per cent.

Eighty-two per cent of Canadians also said they were concerned that Trump would try to force Canada into a more formal union with the United States, with 51 per cent “very concerned.”

Fears about the economy could become a self-fulfilling prophecy. Fifty-four per cent of Canadians say they are putting off major purchases because of the uncertainty.

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U.S. inflation came in hotter than expected Wednesday, raising the chance that the Federal Reserve will not only refrain from cutting its key interest rate this year, it might be forced to hike.

“Risks of the next Fed move being a hike just took a giant leap forward this morning,” said David Rosenberg of Rosenberg Research & Associates.

The consumer price index increased 3 per cent in January from a year ago, up from 2.9 per cent the previous month and from the low of 2.4 per cent in September. The CPI increase was the fastest monthly pace since August 2023.

Rosenberg notes that the discouraging data comes even before inflationary tariffs have kicked in.

“Jay Powell’s life was just made a tad tougher,” he said.

• Today’s Data: United States producer price index
• Earnings: Canadian Tire Corp Ltd., Algoma Steel Group Inc., Constellation Software Inc., Airbnb Inc.

• Canada’s Outstanding CEO of the Year: Alexandre L’Heureux
• Bank of Canada says trade war will hurt Canada more than the United States
• 63-year-old wonders whether she can retire with $100,000 debt

63-year-old Vanessa wonders whether she can retire with $100,000 in debt and Family Finance recommends comprehensive retirement income planning to resolve her worries. 63-year-old wonders whether she can retire with $100,000 debt

Calling Canadian families with younger kids or teens: Whether it’s budgeting, spending, investing, paying off debt, or just paying the bills, does your family have any financial resolutions for the coming year? Let us know at wealth@postmedia.com.

McLister on mortgages

Want to learn more about mortgages? Mortgage strategist Robert McLister’s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his mortgage rate page for Canada’s lowest national mortgage rates, updated daily.

Financial Post on YouTube

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Today’s Posthaste was written by Pamela Heaven, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.

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