Suppose SteelCo, a leading innovative producer and supplier of steel and aluminium products in the US, provides steel and aluminium products to the domestic and foreign markets. In fact, prior to the election, Canada accounted for nearly 75% of export revenue. There are concerns about the impending elections related to the rectification to the USMCA around (a) tariffs being imposed on US produced steel products only; and (b) the development of a patent system that is now standardized across Canada, US, and Mexico.

1. Given the historical market reaction to currency fluctuations post-election, how would the US currency appreciation against the Canadian dollar impact SteelCo's revenue projections? (5 points)
   1. How would SteelCo overcome this challenge?(5 points)