US, Canada trade war poses sourcing risks for agriculture, consumer goods

President Donald Trump announced on Thursday that he is renaming Lake Ontario to Lake America in the United States as part of his ongoing trade conflict with Canada. The Republican president signed an executive order updating the lake's name in the US geographic naming service. However, Trump cannot compel Canada to adopt the new name.

The US has recently imposed 50% tariffs on $20 billion worth of Canadian goods following the breakdown of talks between the two countries. Canada has responded with retaliatory tariffs on $20 billion worth of American goods, including steel, dairy products, appliances, and farm equipment.

Trump, seated at the Resolute Desk in the Oval Office, displayed a large map behind him with the updated name, "Lake America," on it. He claimed that Canada is "the worst" to deal with on trade, stating that they feel entitled and cannot have that.

The Canadian Prime Minister's office did not immediately respond to a request for comment. The move, effective immediately, echoes a previous attempt by Trump to rename the Gulf of Mexico as the "Gulf of America" last year. Trump hinted that his efforts to rename bodies of water may not end there, suggesting the US might rename the Atlantic and Pacific oceans as well.