b'PRESIDENTS MESSAGEHURRICANE TRUMPI In 2021, Trump was impeachedtwice! In 2023, met President Trump once. August 12, 2007. The mixed-use skyscraper in downtown Toronto that laterTrump was found liable in civil cases for sexual abuse became the St. Regis was then known as the Trumpand defamation and for business fraud, and in 2024, International Hotel and Tower, and Trump held theTrump was found guilty of falsifying business records and management contract for the hotel and was a minoritybecame the first U.S. president to be convicted ofshareholder in the development project. I was a guesta felony.at the groundbreaking and the subsequent lunch at the National Club on Bay. Eb Zeidler, the iconic TorontoWhy am I telling you what you already know? Im telling architect, introduced me to Donald Trump, and whatyou this because despite the overwhelming odds, Donald I remember most from that windy day in Toronto is aJ. Trump is the 47th president of the United States, and comment made by his male secretary: What Donaldhe isnt going away anytime soon. Truth be told, I have a Trump wants, he gets. grudging respect for the man. Who but Trump could take the focus of the Canadian federal election away from Fast forward 18 years and that same New York health care, education, inflation, debt-to-GDP, interest developer has become the architect of global chaos.rates, the infrastructure deficit and affordable housing And Im not just talking about the current trade war.and make it almost entirely about tariffs? During his first term as president, Trump decimatedIronically, the U.S. tariffs have very little direct impact on existing foreign policy and literally tore up longstandinga sector that really doesnt export goods or services, and international climate and trade agreements. Who doesthe much-needed retaliatory countermeasures are not that? Donald John Trump! And, for the record, history willthe only thing grinding development to a halt. My friend probably remember the U.S. trade war with China duringNiall Finnegan from Finnegan Marshall, who was the Trumps first term as an epic win for the Americans.keynote speaker at our recent AGM, put some perspective Scratch probably. on the cost consequence of the trade war.For decades, Chinas economy had been growing fourSimply put, while small and specialty projects are times faster than the U.S. economy and had beenpotentially impacted upwards of eight per cent of eclipsing their stronghold on global supply chains. Chinatotal project cost, the large residential and mixed-use also held nearly $1 trillion in U.S. debt. In classic Trumpdevelopments that account for over 60 per cent of our fashion, Donald Trump characterized Chinas escalatingGTA market are more likely impacted by less than three economic domination as the greatest theft the worldper cent. The bigger issue, if we look at HR condo for has ever known. During his run for president in 2016,example, is the revenue side of the proforma, where Trump portrayed himself as the chosen one and arguedselling prices have slipped from about $1,400 psf to Americans could only right a wrong by electing him as$1,000 plus or minus, and the $400 psf developers need president. And it worked. to find to offset the revenue slump has relatively little to After his first term, scholars and historians ranked Trumpdo with tariffs.as one of the worst presidents in American history. HeFor the record, President Trump is not the first U.S. has consistently made false and misleading statementspresident to impose tariffs. President McKinley, and promoted conspiracy theories. His attempt tolong forgotten by all but the history buffs among us, overturn the outcome of the 2020 presidential electionbecame known as the Napolean of Protection when with Joe Biden gave rise to the infamous capital attackhe increased average duties across all U.S. imports to on Congress on January 6, 2021. In her book Oath andalmost 50 per cent. And we survived despite the public Honor, Liz Chaney said Trumps actions would lead to theoutcry. Make no mistake: Trump is a bull in a China death of American democracy. shop and perhaps the single biggest international trade 6Quarter 12025 BUILDERSDIGEST'