The M&E Dispatch // 134

Hello Everyone,

For nearly two decades, the global hierarchy of "nation brands" has been remarkably stable. The top ten list was an exclusive club that rarely issued new membership cards. That era of stability ended this year.

In a historic shift, the United States has fallen out of the top ten for the first time in the 19-year history of the Anholt-Ipsos Nation Brands Index (NBI). Meanwhile, Canada has surged to a record high, breaking into the top three.

I’m going to put this bluntly, you need to lean into your Canadian Brand as this is a signal that the world’s perception of value, leadership, and stability is being fundamentally repriced.

The Numbers

The 2025 NBI, based on over 60,000 interviews across 20 countries, reveals a stark divergence in North American soft power.

Top 10 Nation Brands (2025)

2024 vs. 2025 Nation Brand Rankings: The North American Divergence 

The Signals:

1. The American Plummet

The United States' drop from 7th to 14th is unprecedented. For context, the U.S. held the #1 spot as recently as 2016.

• The "Trump Effect" Returns: The data explicitly links the decline to the re-election of Donald Trump and the return of "America First" policies.

• Isolationism Costs Capital: Global respondents cited unilateral tariffs, the abandonment of international institutions, and combative rhetoric as key drivers for the downgrade.

• The Governance Gap: The NBI tracks "Governance" as a key metric. Perceptions of U.S. competence and reliability have cratered, dragging the overall brand down to sit between Austria (#13) and New Zealand (#15).

2. The Canadian Ascent

Canada’s rise to #3, its highest ranking ever, is not accidental. It is largely a counter-reaction to its southern neighbor.

• The "Courage Dividend": NBI founder Simon Anholt notes that Canada is being rewarded for its perceived resilience. Approximately 28% of global respondents said their view of Canada improved specifically because of its "courage, independence, and resolute political position" in the face of U.S. trade pressure.​

• Stability as a Premium: In a volatile geopolitical market, Canada’s brand, built on "Good Governance," "People," and "Immigration and Investment", is trading at a premium. The world is effectively shorting chaos and going long on stability.

• The Anti-Trump Hedge: Historically, Canada and the U.S. have been viewed as packaged goods. This year, they have decoupled. Canada is no longer seen as "America's Hat" but as the "North American Alternative", a distinct entity offering the stability and openness that the U.S. is currently seen as rejecting.

This is what I’ve been saying, you need to lean into being Canadian, and lean hard!

For businesses and investors, "Nation Brand" is more than a vanity metric, it is a proxy for commercial trust.

1. The "Made In" Premium: Canadian exporters and service providers have a rare window of opportunity. The "Made in Canada" label currently carries significantly higher trust equity than "Made in USA" in European and Asian markets.

2. Talent Acquisition: With the U.S. brand suffering in the "People" and "Governance" categories, Canada is positioned to capture a larger share of the global mobile talent pool, particularly in tech and engineering sectors looking for a stable North American base.

3. Diplomatic Leverage: Soft power converts to hard currency in trade deals. Canada’s elevated standing gives it unexpected leverage in negotiating new bilateral agreements outside the USMCA framework, particularly with the EU and Japan (the #1 nation brand).

This is our time to shine as a nation, top 3, and for the first time we should be happy with being 3rd place.

Now, as for the World Juniors, 1st place or bust.

// The Dirt

🔥 Top 3 Headlines to Watch

🛠 Exploration & Development Highlights

💰 Financings & Market Moves

🧬 Corporate & Policy

// The Hustle

As this is the last issue before Christmas I wanted to say that I hope you’re all enjoying some rest, spending time doing the things you love and hopefully planning and preparing for an audacious 2026.

I’m grateful for each and every one of you and if I could share a glass of eggnog and cheer with you, well, that would be grand.

Merry Christmas, Happy Hanukkah, Happy Kwanzaa and Happy Festivus to you all.

Catch you all on Friday where I’ll likely be lined up outside Costco to see what these boxing day sales are all about.

When in Rome they say…
- Lee