Canada should impose a 100% export tax on uranium and electricity sent to the US. The tax would be used to remedy domestic dislocations caused by Trump's 25% tariff.
@@tdpay9015 who would hurting Quebec's and BCa electrical sales to Democrat leaning states help us? Even if it hurt certain Americans, it would only hurt Democrats, and Trump isn't going to change policy for them.
@@neolithictransitrevolution427 An export tax would only work with products that are very inelastic in demand. For example, 97% of uranium in the US is sourced in Canada. I'd have to ponder other products that affect red states -- maybe potash, which is essential in fertilizers.
@Buzzable, the Americans are the one starting the trade war. America let's more drugs and immigrants into our country than the reverse. This isn't Mexico. I don't know how you can expect the solution to an issue clearly not based on facts to be fixing problems that don't exist.
Elastic in Demand doesn't just mean Uranium prices. Trump would probably love to see Nuclear and BC/Quebec hydro more expensive to justify more Coal generation. Just another way to label lower CO2 power as expensive. And again, we can hurt California and New York all day. Trump isn't going to change policy over it, that isn't his base. Potash is better. But at the same time Trump will be forcing a peace deal on Ukrainian and lifting Russia Sanctions, who will be flooding the market with Potash.
If a country doesn't want people to come in then they need to guard their border and stop people with coming in. You can't ask Mexico or Canada to confine people and give them permission to leave. It's a free country. People have freedom of movement and freedom to travel.
@ The issue is that Canada is allowing these people into Canada unchecked. They use Canada as a conduit to the US. Stop taking them in and the flow into the USA will stop. Canada needs to act more responsibly
Do you understand that Canada can't arrest people who are legally in Canada and can't just arrest people simply because they go close to the American border? Otherwise massive numbers of people would be arrested in Niagara Falls and other places along the border every day. Apparently you don't. Do you understand that unlike North Korea Canada is not a prison and that there are no laws against people leaving Canada? Apparently not. Do you understand that people who are legally in Canada and then illegally enter the United States are breaking American laws while in the United States and that it is the responsibility of the United States to enforce American laws on American territory? Apparently not. Do you understand that huge numbers of migrants cross the other way from the United States to Canada? Apparently not. Do you understand how incredibly long the border is and how remote are some parts of the border? Apparently not. Do you understand how ridiculous you sound suggesting that it's possible to completely stop anyone from crossing the border illegally? Apparently not. Even the very short, incredibly fortified, highly manned Berlin Wall couldn't stop all escape attempts from East Germany. It's not really a good idea to put out posts regarding a subject about which you clearly know absolutely nothing.
Muricans can protect the Ukrainian border But not their own.? Also you’re bipolar One administration is open borders The next is the opposite.!! About you stars looking your self in the mirror!!!
Grow up Canada. No treaty with the Americans has or ever will be worth the paper it’s written on. In the past (historically) Canadians understood this.
We are not going down without a fight. You want hate....you will get it. America is dying empire. I hope we shift trade to good partners. Good luck on your own.
We'll be fine. Time to grow a pair and put on or big boy pants. We've been asleep for 30 years.. Trump could be an opportunity to attract investments and businesses to Canada, Start making it cheap for companies to move here.
Now Canada will find out where it's real friends are, and how fragile the business relationship between America and Canada really is.. Time to come to grips how little America cares for Canada's longtime friendship. It may be a far better strategy to think of improving the relationship with Europe, China and India, even establishing long term trade agreements with them, do anything to wean off Canada's dependency with this arrogant American bully. In plain English, cut the umbilical cord which connects Canada to America, because this unhealthy relationship is very likely to become a lot worse in the future!
That would be one of the dumbest things we could possibly do as a country. How about we stop the illegal immigrants and illegal drugs being smuggled into the US from Canada?
The US is nobody's friend, ever. It's naive to expect that. It's all business and Canada can hold its own: The US NEEDS Canada's oil, lumber and minerals. Canadians buy a LOT of consumer goods from the US.
Tariffs will increase costs of finished goods and components used throughout US manufacturing. This will be an immediate and huge hike in inflation. To fight inflation the Fed will have to hike interest rates which will be wonderful for the billionaires but possibly take away the middle class. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
@@jeffDwyer1 I wish this were true and it may be so in the case of some Chinese consumers goods, but the rate at which Americans purchase new appliances, or specifically cars in the case of Canada, is slow infrequent that even if CPI figures increase, Americans won't feel it in their expenses even over the term of a Presidency. Some fancy fruit will increase in prices, but Republican voters won't notice that. Rents will decrease with immigration expulsions, most US food products are domestically produced, all the pain points of inflation will be largely mitigated.
I believe Canada also has some leverage with Potash. With the war between Russian / Ukraine and China restricting exports, there is a significant shortage globally so not a lot of cheap alternative supply and we supply almost 1/2 of all US fertilizer imports. Lots of options there.
@@RocketRon7779 I disagree, I don't believe you are considering Trump's plans towards Russia and Ukraine. I think he will almost certainly force a stalemate that leaves Russia with land it has gained, and in Trade negotiations forces Europe to accept Russian trade again to ensure a unanimous end to the war as part of free trade agreement with the US. And as part of that, and along side a depressed China, we will see lower prices for most commodity markets.
I simply can't believe how subliterate the people leaving these comments are. The Globe was once read by fairly intelligent people who'd mastered basic grammar and spelling!
@@kevinwills6218 Oil sands producers will simply lower the price they sell at, and reduce royalty payments to Alberta. And Alberta would never allow an export tariff on oil.
What did Biden's AUG-2024 doubling of sofwood lumber tariffs mean for Canada? What did Biden's signing an executive order to buy and hire American in 2021 mean for Canada? What did Biden cancelling Keystone mean for Canada? I get that Trump is no better but why do we ignore Biden's moves that negatively affect Canada?
@@clydemifflin3600 I agree, but doubling soft wood to 20% is still lower than the baseline on all products being put forward by Trump. There is no reason to support Keystone if we aren't making money on the oil we sell.
Please stop it already. Nothing has happened yet. Stop providing oxygen to his bluster. This is exactly what he wants. Why play into his tiny greasy hand? Let’s wait to see how real any of this is before we start panicking, FCS. Get a grip.
@@angies.7689 not to be rude, but this take is like watching a hurricane come toward you and hoping it will just go away. Trump launched trade wars last time. Even against us. He got elected on the basis of Trade wars this election. There is every reason to believe he's going to tariff us, and we need to have a plan.
@@scottmarquardt3575 well two countries border each other why not have fair trade? Why should China another country get in on it too,? Well China other countries are in on it to.just think farmers in our country will suffer .than the government will have to help them out farm welfare.But there are so many billionaires buyed up the farms. Empires in the world England once had than America had its day in the sun.now empires last about 300 years.yes on the average.do believe you get yourself.only can get your self .sounds like a chemical person alchole and other.blame blame blame.think this alchole chemical people say we are first.think about yourself.go to alnon.you can have a alchole personality.neaver drink.passed down to the next generations.
"A 25% rise in Oil Prices" is not going to be the reality. We supply half their oil, but the vast majority goes to the midwest theough Enbridge Mainline system. And we have no alternative market at all for these 4M bbl/day. Whats going to happen will be generally consistent prices paid by US refineries, kept relatively high by Bakken crude from North Dakota and Barges bringing crude from Texas up to Mississippi, and some increased imports from the Atlantic through Pennsylvania pipelines if our output drops. Our output won't significantly drop, however, because the SAGD operations that feed the US can't be turned off without long term damage (In Covid, Mining production was down some 40%, insitu output was nearly unchanged) and because they have low operating costs, and producers will accept lower prices. The real loaer will be the Government of Alberta, because Royalities are on a scaled system, and lower profits have a much more dramatic effect on Albertas budget. The other big issue is the oil mines themselves. They are very expensive to operate and ultimately produce a light oil product, and competitive with US shale oil. If its price is increased, refiners are likely to displace it. To some extent this can be offset by having Ontario and Quebec refiners buy more Syncrude and reduce Bakken imports, and a competent policy might include requiring exports to mix Syncrude into DilBit at some level. But this is the biggest risk point, shutting down the oil mines would kill Fort McMurray and destroy an enormous amount of high wage blue collar employment.
The experts disagree with you and say that the regions of the United States that rely on imported oil from Canada will see massive increases in gasoline prices if the tariffs are implemented. I'm going to go with what the experts say and not with what a random person online says. The United States can't magically and suddenly make new oil refineries pop into existence to refine American produced oil to replace Canadian oil.
@LelandWolf-zt4wz what is the question why oil meant to mean? Why am I talking about it? Why use it? Why sell it? I'm talking about how this will play out in the Canadian economy this has nothing to do with a preference for oil.
If we don't rapidly fix this, and ensure industry that we can maintain trade ties, Canadian Auto Manufacturing is dead. This alone could be terrible for any long term prospects, just the idea of tariffs. Labling this as Americans will pay 25% more for cars is wrong. First of all, the majority of Americans won't buy a new (to them) car in the next 4 years. Many of those will be used cars. America has existing parts manufacturing, and lots of time to create manufacturing before an impact is felt by the public, and most importantly we're only talking about parts, the entore car would never see such a drastic price increase. Canada needs to address this rapidly. Any tariff exposure here will rapidly kill off an industry which has been hesitant to remain in Canada to begin with and as a long term prospect is unlikely to grow
Okay. But this isn't actually our problem to fix. Using trade leverage to require a sovereign nation to behave according to his terms is an outright offense to Canada. There is a trade agreement - put into place under Trump in the first place. I'm really tired of people running with their tails tucked between their legs. We don't call this bluff now and we're in for bully tactics every step of the way. I am SO done bending over for the ancient, fascist, mango.
Yes, it would be disastrous for the Canadian automobile industry but you are delusional if you think that the incredibly integrated production systems in Canada and the United States can be easily and quickly separated. Right now parts cross the border on average 8 times during production. The American automobile industry simply isn't set up to operate independently of Canada. And every year lots of Americans buy new cars. Makes sense as every year lots of cars reach the end of their lifetimes. Plus the American population keeps increasing. And even already existing cars regularly need parts for maintenance and repair. The idea that American car owners could go a decade or so with no new cars and no replacement parts while the American car industry disentangled itself from the Canadian and Mexican car industries is completely ludicrous.
If car prices go up, fewer Americans will buy a new car. Inflation through car prices isn't going to be top of mind, it isn't rent or food or a regular expense, and the higher income individuals who buy new cars aren't going to be nearly as cash strapped. I suppose is a 25% tariff were triggered each time the car recrossed the border that would be extreme -but why would it be set up like that when even a 10% tariff would steal our manufacturering. I don't believe Canada has a monopoly on any part. But even if we did, 25% on a part is just a part, it doesn't mean a 25% price increase for the consumer, the mechanics labour isn't going up. The point is this is far more damaging to Canadians than Americans. The idea "Americans will just pay higher prices" is as ludicrous as saying that they will go ten years without buying a new car. They will scrap existing cars for parts, keep cars longer, and buy more American parts. Russia managed to survive about 2 years with sanctions on car parts from Europe before they starded to see increasing cat prices. A 25% tariff is far easier to navigate. There will be some short term price increase. And frankly, Trump may just slap on a subsidy to hide the impact. the plan is to steal our industry, it most certainly will work, and it won't take 10 years. any level of trade war will likely kill and rebuild on the American side most of our manufacturing before Trump's term ends.
@@murrethmedia lol sorry to sound so harsh. Just a little constructive criticism. You won't find any other well known podcasters making that sound all the way through an interview. Very good interview in spite of it though. :)
As far as the tariffs' Canada should back Mexico I don't know if they have enough aluminium to make the cars with, even when the US uses Canada to cold roll aluminum goes back and forth with the US to press the aluminum, Canada should just make some aluminum rods etc, now, so they can cover for the tariff's down the road, and there are many other countries to sell to anyways. Be prepared, not scared. Sell to Asian Iranian markets
Lol You don't know a damn thing. Canada will crumble if they don't sell to America. America has the money. Plus they can remove them by just doing what is ask. So you're more pro drug inflows and crime to the US then just doing something to fix it?
The head of the aluminum manufacturers association said that Canadian aluminum producers would likely start selling significantly more aluminum to Europe which needs more aluminum due to sanctions on Russia. Though it could be complicated as he said that aluminum normally crosses the border with the United States a few times during production.
@@geofflepper3207 the issue with this line of reason is Trump's clear desire to end sanctions against Russia, which will flood the European market with many of our exports, from metals and minerals to oil to timber to fertilzer.
@@geofflepper3207 they could sell to Syria because they're gonna need steel and aluminum, they make great translators over language barriers now, so there's no reason to not discuss something for the better with them. if things work out, they might want to rebuild Gaza, Lebanon, Golan heights, and begin some kind of re- building process, in the future. I don't think the tariffs will even land or make it to be able to happen, he's not in office yet. The world is changing as we know it, it will be swift.
The entire universe operates on the principle of dependent arising-no individual, no nation, can thrive in isolation. Every action, resource, and decision is interconnected, forming a delicate web of mutual reliance. In this light, leaders must adopt a broad, long-term perspective and consider the global impact of their decisions, moving beyond short-sighted interests. True leadership involves recognizing this interdependence and fostering cooperation rather than competition. In the face of challenges like climate change, leaders should act not only for their own nations but for the collective good, ensuring sustainable progress and resilience for all. By thinking holistically and ethically, they can build a future where shared responsibility creates a world of mutual prosperity and peace. With the growing impacts of climate change, many small islands are submerging, and coastal regions are gradually disappearing beneath rising sea levels. Freshwater scarcity is also becoming a critical global issue, as a significant portion of the world's drinking water sources face depletion. In this scenario, Canada's abundant natural resources-particularly its pristine water reserves-will become invaluable assets for the world. Canada's rich and inexhaustible water resources will not only sustain its citizens but may also offer vital support to nations struggling with drought and water scarcity. In the future, even those who once seemed self-reliant, like Donald Trump, may look to Canada for its life-giving resources, underscoring Canada's role as a global leader and a beacon of hope in a world increasingly defined by environmental challenges.
I thought many years ago we should work toward being more of a self sufficient country as well as protect our border...now....here we are and with a very bad Prime Minister at the helm. Really wish he stood up to the unhinged Trump 2.0 like Mexico but that's off the table now....Trudeau has plead fealty to Thumper......the wimp needs to go.
@@henrynewton8809 we are in trouble then. Let's hope Thumper is just water boarding us short term and then...drop this stupid tariff "no one is a winner". Another option.. and it might take a long time but decoupling from the US and looking at other countries to trade with should be looked at. We put alot of eggs in one basket. Alternative is we suffer with Trump 2.0's posturing until his term is up.
You must be a teenager or quite young. Canada was self sufficient and had a more powerful economic situation up until just before the Liberals became predominant in the late 1960s. Pierre Bertin wrote a book about it; 1967, The Last Great Year Then enter the endless liberal majorities and our economy hit bottom by time the Mulroney Tories arrived to push for and usher in the death blow NAFTA. The open window for US business to take over Canadian companies and lay off all the work force and sell off assets and shift the customer base to their own company. Then later sell off and shift the jobs to Mexico This is just a thumbnail not a definitive detailed description. The information is public you can look for the history. Royal Canadian Air Farce did a fairly accurate skit about this called "Jock McBile Get Stuffed"
@@RetroCaptain you just restated the point I made about becoming self sufficient. Hate relying on countries that break rules or attack our economics without some course of retaliation...Push back.....he's an unhinged psycho with free reign and he will kill his own economy to satisfy his own agenda as well. Take lessons from the past and move forward to create a method to fight the orange guys madness.
Complies? F off. There is nothing to comply with. It’s an intimidation tactic. Canada should just stay quiet and prepare to negotiate nafta when time comes. Trudeau is doing everything right
@@Ratbiker the problem with this "solution" is there is nothing to comply to. There isn't a genuine underlying problem. Trump just wants to appear powerful to his electorate and bully us into trade concessions. If it were really about immigration or drugs, it would have been directed at Mexico alone. Last time Trump was in power, he found reasons to start a trade war with us. If we "comply" he'll just find new, made up reasons.
Name a single time that a member of Trudeau's government said that Canada's oil is not Canada's oil? Seems that you are just making up a nonsense claim about the government being inconsistent in its comments regarding Canada's oil.
@ 😂. You just made my point. Tried to get a pipeline west, BC fought like crazy, Quebec says nope not here, 1 territory said nada and Trudeau didn’t blink an eye when Keystone was cancelled. Rest my case.
@jodyperyk1978 have you ever considered that the reason no one wants a DilBit pipeline built through their province is Alberta refuses to share any of the revenue? If half of that funded the Federal government, Alberta would see more revenue, because the rest of Canadians would see a benefit and not just a risk. But we did just build you that nice new pipeline over a mountain. And for the record I support Keystone XL, although I think it's a far from ideal project. Mass Commercialization of those bitumen pucks that can be loaded and shipped like coal, or the Eagle Spirit pipeline for large-scale upgraded oil to the Pacific, would be better. Keystone cements our role as a 0 value added exporter of crude bitumen focused entirely on the US, which will ultimately end in us facing steep price discounts when Russian volumes return to Europe. But competition between Chicago and Texas refiners is better than no competition at all, and we might be able to export some internationally, or even domestically to Irving and Quebec, from the Gulf.
@ again you made my point. Alberta sends over billions to Ottawa plus employs almost a million people Canada wide. The only reason “you” had to pay for a pipeline was because of the Liberal government incompetence as this pipeline was already underway with the private sector. Instead the feds with great incompetence get involved and then the people of Canada are stuck with the price tag. This whole mess is because of the elected mess by the people of Ontario and Quebec who by the way benefit greatly from equalization. And yes Ontario did benefit this year. If our bitumen was so worthless then tell me why Trump “jokingly” referred to us as the 51st state. Perhaps look at the numbers of what is actually sent for “Canada” to enjoy and benefit from. If the federal government wouldn’t stand in the way Canada would be far richer not this dumpster fire it is now. Just remember if a carve out comes from the US for Alberta oil it will be because Alberta fought for it - not “Canada”.
Again, a 25% tariff on oil won't hurt KeyStone. US refineries won't pay any higher a price, they'll just oil sands producers less. But this is probably part of the negotiation and we will probably build KeyStone as a result. Edit: recent attention to Venezuela may actually indicate no KeyStone. Chevron already has sanctions exemptions I'm sure they'll be tariff exempt, and technically their condensate for heavy crude swaps don't count as buying and selling oil, and growing Venezuelan output serves a number of political goals as well as increasing regional demand for US light oil, which in many ways is lighter than the market has demand for, particularly in the light of Trump ending support for a Ukraine war and Russia returning to the European market and lowering global prices.
U.S. importers won't pay a higher price but they will pay Trump's tariff. It's an American tax charged to Americans. Canadians aren't going to pay it. Americans need that Canadian oil so they will have no choice but to pay the tariff.
No, the US has far more flexibility in supply than Canada does markets. Oil sands producers are quite clearly price takers from the historical example. Refiners aren't going to pay 25% more for oil that's unprecedented. Oil sands producers charging a third less is common. Even the smallest drop in US demand would cause a price collapse on the Canadian side as it regularly has. The Alberta royalties are based on a scaled system. Revenue drops much faster than oil prices. Canadians may not pay the tax, but Albertans will when their provincial revenue collapses. All of that is most true of the Mining Operations, which are the largest area of employment and could see closures as the US does not need our light SynCrude.
What is Canada without the US trade and defence? Canada would be overrun by the Russians, had it not been for the US covering Canada's poor record in defense, and its inability to foster real industries.
Where do you get your "news" from? Is Canada overly dependent on US Trade? 100%. America cannot be trusted to be our ally and trade partner. Does that mean it is inevitable for this to be the case forever? Not even a little. I don't think America is going to fair well under this clown - the last time there were people with skill and intelligence undermining his stupidest impulses. Now it is all idiocracy.
@angryanne Facts are often difficult to accept! Canada does not deserve to be in the G20. It is not even a G40 nation. Overly dependent on the US, bothe in defense and trade. Your leaders never bothered to diversify their trade and build defense partners. They were more interested in filing the pockets.
Increase the electricity we send south 25%more.
And actually make a fee for water.
@@BobLanctot The scale of electrical sales is very small, both relative to overall trade and US power consumption.
@@RetroCaptain we don't sell water to the US. It is Infact illegal to sell bulk water across the Canadian border.
@@neolithictransitrevolution427 Free
What? What water do you think we're giving away? We don't own the great Lakes, and there are clear rules for water usage from them.
Canada should impose a 100% export tax on uranium and electricity sent to the US. The tax would be used to remedy domestic dislocations caused by Trump's 25% tariff.
@@tdpay9015 who would hurting Quebec's and BCa electrical sales to Democrat leaning states help us? Even if it hurt certain Americans, it would only hurt Democrats, and Trump isn't going to change policy for them.
@@neolithictransitrevolution427 An export tax would only work with products that are very inelastic in demand. For example, 97% of uranium in the US is sourced in Canada. I'd have to ponder other products that affect red states -- maybe potash, which is essential in fertilizers.
How about securing the borders like asked? Why start a trade war that we will lose? Security is good for both countries.
@Buzzable, the Americans are the one starting the trade war. America let's more drugs and immigrants into our country than the reverse. This isn't Mexico.
I don't know how you can expect the solution to an issue clearly not based on facts to be fixing problems that don't exist.
Elastic in Demand doesn't just mean Uranium prices. Trump would probably love to see Nuclear and BC/Quebec hydro more expensive to justify more Coal generation. Just another way to label lower CO2 power as expensive.
And again, we can hurt California and New York all day. Trump isn't going to change policy over it, that isn't his base.
Potash is better. But at the same time Trump will be forcing a peace deal on Ukrainian and lifting Russia Sanctions, who will be flooding the market with Potash.
Maple syrup just got more expensive
It’s already expensive 😭
Stop comparing Canada to Mexico. Even one illegal crossing over the Canadian border is too much. Fix the problem.
If a country doesn't want people to come in then they need to guard their border and stop people with coming in. You can't ask Mexico or Canada to confine people and give them permission to leave. It's a free country. People have freedom of movement and freedom to travel.
@ The issue is that Canada is allowing these people into Canada unchecked. They use Canada as a conduit to the US. Stop taking them in and the flow into the USA will stop. Canada needs to act more responsibly
@@ddb083140 000 people crossed the border from the USA to Canada seeking asylum in 2022. So the problem is mutual
Do you understand that Canada can't arrest people who are legally in Canada
and can't just arrest people simply because they go close to the American border?
Otherwise massive numbers of people would be arrested in Niagara Falls
and other places along the border every day.
Apparently you don't.
Do you understand that unlike North Korea Canada is not a prison
and that there are no laws against people leaving Canada?
Apparently not.
Do you understand that people who are legally in Canada and then illegally enter the
United States are breaking American laws while in the United States
and that it is the responsibility of the United States to enforce American laws
on American territory?
Apparently not.
Do you understand that huge numbers of migrants cross the other way from
the United States to Canada?
Apparently not.
Do you understand how incredibly long the border is and how remote are some parts of the border?
Apparently not.
Do you understand how ridiculous you sound suggesting that it's possible to completely stop anyone from crossing the border illegally?
Apparently not.
Even the very short, incredibly fortified, highly manned Berlin Wall couldn't stop
all escape attempts from East Germany.
It's not really a good idea to put out posts regarding a subject about which
you clearly know absolutely nothing.
Muricans can protect the Ukrainian border
But not their own.?
Also you’re bipolar
One administration is open borders
The next is the opposite.!!
About you stars looking your self in the mirror!!!
Way to go Trump... Thanks alot for voting him in.. Good job 😮😮😮😮😢😢😢good job people...
Grow up Canada. No treaty with the Americans has or ever will be worth the paper it’s written on. In the past (historically) Canadians understood this.
@@joelscott5783 We need a wide scale militia. This is not an 1812 joke this is a comment on Ukraine's success points.
RIP Canada:(
🙄 Grow a spine.
Oh stop, You know the british crown still controls canada As well as australia. No country dies, someone just bails them out.
We are not going down without a fight. You want hate....you will get it. America is dying empire. I hope we shift trade to good partners. Good luck on your own.
We'll be fine. Time to grow a pair and put on or big boy pants. We've been asleep for 30 years.. Trump could be an opportunity to attract investments and businesses to Canada, Start making it cheap for companies to move here.
Excellent show. Thank you.
One thing is for sure. Trump will never take the blame for anything.
Now Canada will find out where it's real friends are, and how fragile the business relationship between America and Canada really is.. Time to come to grips how little America cares for Canada's longtime friendship.
It may be a far better strategy to think of improving the relationship with Europe, China and India, even establishing long term trade agreements with them, do anything to wean off Canada's dependency with this arrogant American bully.
In plain English, cut the umbilical cord which connects Canada to America, because this unhealthy relationship is very likely to become a lot worse in the future!
The problem is that our population is so low that we lack a large internal economy. And trade with Europe and Asia wouldn't be large enough.
Better we should trade with Mexico and tell chump to shove it!
That would be one of the dumbest things we could possibly do as a country. How about we stop the illegal immigrants and illegal drugs being smuggled into the US from Canada?
@@emilschattner3407 this is entirely correct. We need better port access and better internal mobility for goods and labour.
The US is nobody's friend, ever. It's naive to expect that. It's all business and Canada can hold its own: The US NEEDS Canada's oil, lumber and minerals. Canadians buy a LOT of consumer goods from the US.
what about the water the USA wants from Canada
Tariffs will increase costs of finished goods and components used throughout US manufacturing. This will be an immediate and huge hike in inflation. To fight inflation the Fed will have to hike interest rates which will be wonderful for the billionaires but possibly take away the middle class. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
@@jeffDwyer1 I wish this were true and it may be so in the case of some Chinese consumers goods, but the rate at which Americans purchase new appliances, or specifically cars in the case of Canada, is slow infrequent that even if CPI figures increase, Americans won't feel it in their expenses even over the term of a Presidency.
Some fancy fruit will increase in prices, but Republican voters won't notice that. Rents will decrease with immigration expulsions, most US food products are domestically produced, all the pain points of inflation will be largely mitigated.
Tax the American stores and restaurants
I believe Canada also has some leverage with Potash. With the war between Russian / Ukraine and China restricting exports, there is a significant shortage globally so not a lot of cheap alternative supply and we supply almost 1/2 of all US fertilizer imports. Lots of options there.
@@RocketRon7779 except for the fact Trump is going to quickly force an end to the Ukraine Russia war, and Russia will be flooding the market.
@@RocketRon7779 I disagree, I don't believe you are considering Trump's plans towards Russia and Ukraine. I think he will almost certainly force a stalemate that leaves Russia with land it has gained, and in Trade negotiations forces Europe to accept Russian trade again to ensure a unanimous end to the war as part of free trade agreement with the US. And as part of that, and along side a depressed China, we will see lower prices for most commodity markets.
I simply can't believe how subliterate the people leaving these comments are. The Globe was once read by fairly intelligent people who'd mastered basic grammar and spelling!
Agreed.👍🏻
People used to have manners and not criticize others publicly. What ever happened to that kind of intelligence?
Don't Americans buy a lot of oil from us? We should just tariff that and all go down together or we could just forget the whole thing.
@@kevinwills6218 Oil sands producers will simply lower the price they sell at, and reduce royalty payments to Alberta. And Alberta would never allow an export tariff on oil.
Nobody has a high opinion of Trudeu
says who??? some sheeple for pee pee
That's okay, no one has a high opinion of you, either.
I don’t have a high opinion of people who can’t spell
trudo sux .
What if Canada seeks to join AUKUS?
I suggest wait and see
U can buy a hit a fenny for $3 on my s. Minneapolis block. A 25% increase is $4.
What did Biden's AUG-2024 doubling of sofwood lumber tariffs mean for Canada? What did Biden's signing an executive order to buy and hire American in 2021 mean for Canada? What did Biden cancelling Keystone mean for Canada? I get that Trump is no better but why do we ignore Biden's moves that negatively affect Canada?
@@clydemifflin3600 I agree, but doubling soft wood to 20% is still lower than the baseline on all products being put forward by Trump. There is no reason to support Keystone if we aren't making money on the oil we sell.
Please stop it already. Nothing has happened yet. Stop providing oxygen to his bluster. This is exactly what he wants. Why play into his tiny greasy hand? Let’s wait to see how real any of this is before we start panicking, FCS. Get a grip.
@@angies.7689 not to be rude, but this take is like watching a hurricane come toward you and hoping it will just go away. Trump launched trade wars last time. Even against us. He got elected on the basis of Trade wars this election. There is every reason to believe he's going to tariff us, and we need to have a plan.
Canada is done.
Nafta was a horrible idea...we voted against it and once Mulroney was in power he flipped his campaign.
Think you need free and fair trade.China has been trading all the world.will the brics be king reather than the American dollar??😮😮
I live in Duluth, mn., grew up in Seattle. The only thing I've got from Canada is nasty tasting ducks from Manitoba.
@@scottmarquardt3575 well two countries border each other why not have fair trade? Why should China another country get in on it too,? Well China other countries are in on it to.just think farmers in our country will suffer .than the government will have to help them out farm welfare.But there are so many billionaires buyed up the farms. Empires in the world England once had than America had its day in the sun.now empires last about 300 years.yes on the average.do believe you get yourself.only can get your self .sounds like a chemical person alchole and other.blame blame blame.think this alchole chemical people say we are first.think about yourself.go to alnon.you can have a alchole personality.neaver drink.passed down to the next generations.
Alberta Sands Rhodes no salt added
More ways to help the wealthy get more slices of your pizza.
😐
I'm shocked that anyone would want to leave Canada for the US
That’s a joke right?
Look at the number of people who have moved out of canada last year
"A 25% rise in Oil Prices" is not going to be the reality. We supply half their oil, but the vast majority goes to the midwest theough Enbridge Mainline system. And we have no alternative market at all for these 4M bbl/day.
Whats going to happen will be generally consistent prices paid by US refineries, kept relatively high by Bakken crude from North Dakota and Barges bringing crude from Texas up to Mississippi, and some increased imports from the Atlantic through Pennsylvania pipelines if our output drops.
Our output won't significantly drop, however, because the SAGD operations that feed the US can't be turned off without long term damage (In Covid, Mining production was down some 40%, insitu output was nearly unchanged) and because they have low operating costs, and producers will accept lower prices. The real loaer will be the Government of Alberta, because Royalities are on a scaled system, and lower profits have a much more dramatic effect on Albertas budget.
The other big issue is the oil mines themselves. They are very expensive to operate and ultimately produce a light oil product, and competitive with US shale oil. If its price is increased, refiners are likely to displace it. To some extent this can be offset by having Ontario and Quebec refiners buy more Syncrude and reduce Bakken imports, and a competent policy might include requiring exports to mix Syncrude into DilBit at some level. But this is the biggest risk point, shutting down the oil mines would kill Fort McMurray and destroy an enormous amount of high wage blue collar employment.
The experts disagree with you and say that the regions of the United States that rely on imported oil from Canada will see massive increases in gasoline prices
if the tariffs are implemented.
I'm going to go with what the experts say and not with what a random person online says.
The United States can't magically and suddenly make new oil refineries pop into existence to refine American produced oil to replace Canadian oil.
Why oil.? Let us save our planet.save the oil for our children and grandchildren.consevstion
@LelandWolf-zt4wz what is the question why oil meant to mean? Why am I talking about it? Why use it? Why sell it?
I'm talking about how this will play out in the Canadian economy this has nothing to do with a preference for oil.
If we don't rapidly fix this, and ensure industry that we can maintain trade ties, Canadian Auto Manufacturing is dead. This alone could be terrible for any long term prospects, just the idea of tariffs.
Labling this as Americans will pay 25% more for cars is wrong. First of all, the majority of Americans won't buy a new (to them) car in the next 4 years. Many of those will be used cars. America has existing parts manufacturing, and lots of time to create manufacturing before an impact is felt by the public, and most importantly we're only talking about parts, the entore car would never see such a drastic price increase. Canada needs to address this rapidly. Any tariff exposure here will rapidly kill off an industry which has been hesitant to remain in Canada to begin with and as a long term prospect is unlikely to grow
Okay. But this isn't actually our problem to fix. Using trade leverage to require a sovereign nation to behave according to his terms is an outright offense to Canada. There is a trade agreement - put into place under Trump in the first place. I'm really tired of people running with their tails tucked between their legs. We don't call this bluff now and we're in for bully tactics every step of the way. I am SO done bending over for the ancient, fascist, mango.
Yes, it would be disastrous for the Canadian automobile industry
but you are delusional if you think that the incredibly integrated production systems in Canada and the United States can be easily and quickly separated.
Right now parts cross the border on average 8 times during production.
The American automobile industry simply isn't set up to operate independently of Canada.
And every year lots of Americans buy new cars.
Makes sense as every year lots of cars reach the end of their lifetimes.
Plus the American population keeps increasing.
And even already existing cars regularly need parts for maintenance and repair.
The idea that American car owners could go a decade or so with no new cars
and no replacement parts while the American car industry disentangled itself from the Canadian and Mexican car industries is completely ludicrous.
If car prices go up, fewer Americans will buy a new car. Inflation through car prices isn't going to be top of mind, it isn't rent or food or a regular expense, and the higher income individuals who buy new cars aren't going to be nearly as cash strapped. I suppose is a 25% tariff were triggered each time the car recrossed the border that would be extreme -but why would it be set up like that when even a 10% tariff would steal our manufacturering.
I don't believe Canada has a monopoly on any part. But even if we did, 25% on a part is just a part, it doesn't mean a 25% price increase for the consumer, the mechanics labour isn't going up. The point is this is far more damaging to Canadians than Americans.
The idea "Americans will just pay higher prices" is as ludicrous as saying that they will go ten years without buying a new car. They will scrap existing cars for parts, keep cars longer, and buy more American parts. Russia managed to survive about 2 years with sanctions on car parts from Europe before they starded to see increasing cat prices. A 25% tariff is far easier to navigate. There will be some short term price increase. And frankly, Trump may just slap on a subsidy to hide the impact.
the plan is to steal our industry, it most certainly will work, and it won't take 10 years. any level of trade war will likely kill and rebuild on the American side most of our manufacturing before Trump's term ends.
The host should stop saying hm all the time. Disgusting.
hm
@@murrethmedia lol sorry to sound so harsh. Just a little constructive criticism. You won't find any other well known podcasters making that sound all the way through an interview. Very good interview in spite of it though. :)
As far as the tariffs' Canada should back Mexico I don't know if they have enough aluminium to make the cars with, even when the US uses Canada to cold roll aluminum goes back and forth with the US to press the aluminum, Canada should just make some aluminum rods etc, now, so they can cover for the tariff's down the road, and there are many other countries to sell to anyways. Be prepared, not scared. Sell to Asian Iranian markets
Lol
You don't know a damn thing.
Canada will crumble if they don't sell to America. America has the money. Plus they can remove them by just doing what is ask.
So you're more pro drug inflows and crime to the US then just doing something to fix it?
The head of the aluminum manufacturers association said that Canadian aluminum producers would likely start selling significantly more aluminum to Europe
which needs more aluminum due to sanctions on Russia.
Though it could be complicated as he said that aluminum normally crosses the border with the United States a few times during production.
@@geofflepper3207 the issue with this line of reason is Trump's clear desire to end sanctions against Russia, which will flood the European market with many of our exports, from metals and minerals to oil to timber to fertilzer.
@@geofflepper3207 they could sell to Syria because they're gonna need steel and aluminum, they make great translators over language barriers now, so there's no reason to not discuss something for the better with them. if things work out, they might want to rebuild Gaza, Lebanon, Golan heights, and begin some kind of re- building process, in the future. I don't think the tariffs will even land or make it to be able to happen, he's not in office yet. The world is changing as we know it, it will be swift.
I think the Commonwealth countries should ban together against the illiberal government against the States!
The EU is better
@@Butterflies-are-free New British Empire would be cool, First Global Indian Empire I'm not game.
Thanks to the Globe and Mail covering the Imposed 25 percent on Canada. Great interview very informative on our exports with the tariffs.
The entire universe operates on the principle of dependent arising-no individual, no nation, can thrive in isolation. Every action, resource, and decision is interconnected, forming a delicate web of mutual reliance. In this light, leaders must adopt a broad, long-term perspective and consider the global impact of their decisions, moving beyond short-sighted interests.
True leadership involves recognizing this interdependence and fostering cooperation rather than competition. In the face of challenges like climate change, leaders should act not only for their own nations but for the collective good, ensuring sustainable progress and resilience for all. By thinking holistically and ethically, they can build a future where shared responsibility creates a world of mutual prosperity and peace.
With the growing impacts of climate change, many small islands are submerging, and coastal regions are gradually disappearing beneath rising sea levels. Freshwater scarcity is also becoming a critical global issue, as a significant portion of the world's drinking water sources face depletion. In this scenario, Canada's abundant natural resources-particularly its pristine water reserves-will become invaluable assets for the world.
Canada's rich and inexhaustible water resources will not only sustain its citizens but may also offer vital support to nations struggling with drought and water scarcity. In the future, even those who once seemed self-reliant, like Donald Trump, may look to Canada for its life-giving resources, underscoring Canada's role as a global leader and a beacon of hope in a world increasingly defined by environmental challenges.
Why did you make Chat GDP do this
I thought many years ago we should work toward being more of a self sufficient country as well as protect our border...now....here we are and with a very bad Prime Minister at the helm. Really wish he stood up to the unhinged Trump 2.0 like Mexico but that's off the table now....Trudeau has plead fealty to Thumper......the wimp needs to go.
We are in no position to negotiate. Mexico has a larger internal economy.
Pierre P would be on his knees behind chump in a matter of seconds. Singh and Trudeau are our best chance of taking it to chump.
@@henrynewton8809 we are in trouble then. Let's hope Thumper is just water boarding us short term and then...drop this stupid tariff "no one is a winner". Another option.. and it might take a long time but decoupling from the US and looking at other countries to trade with should be looked at. We put alot of eggs in one basket. Alternative is we suffer with Trump 2.0's posturing until his term is up.
You must be a teenager or quite young.
Canada was self sufficient and had a more powerful economic situation up until just before the Liberals became predominant in the late 1960s.
Pierre Bertin wrote a book about it;
1967, The Last Great Year
Then enter the endless liberal majorities and our economy hit bottom by time the Mulroney Tories arrived to push for and usher in the death blow
NAFTA.
The open window for US business to take over Canadian companies and lay off all the work force and sell off assets and shift the customer base to their own company. Then later sell off and shift the jobs to Mexico
This is just a thumbnail not a definitive detailed description.
The information is public you can look for the history.
Royal Canadian Air Farce did a fairly accurate skit about this called
"Jock McBile Get Stuffed"
@@RetroCaptain you just restated the point I made about becoming self sufficient. Hate relying on countries that break rules or attack our economics without some course of retaliation...Push back.....he's an unhinged psycho with free reign and he will kill his own economy to satisfy his own agenda as well. Take lessons from the past and move forward to create a method to fight the orange guys madness.
Trudeau diplomatic???? LMFAO!!! Really???
If Canada complies, then this won’t be a problem.
So much crap comes into Canada from the US...stop your guns from coming into Canada....and your drugs.
Complies? F off. There is nothing to comply with. It’s an intimidation tactic. Canada should just stay quiet and prepare to negotiate nafta when time comes. Trudeau is doing everything right
Why is it so hard for people to understand??
@ because people feel compelled to disagree with trump no matter what, even if what he says makes perfect sense.
@@Ratbiker the problem with this "solution" is there is nothing to comply to. There isn't a genuine underlying problem. Trump just wants to appear powerful to his electorate and bully us into trade concessions. If it were really about immigration or drugs, it would have been directed at Mexico alone.
Last time Trump was in power, he found reasons to start a trade war with us. If we "comply" he'll just find new, made up reasons.
😂😂😂 Canada’s oil hey. I like how it’s Canada’s oil when it suits the government. How about it’s Alberta oil, all others are insignificant.
Name a single time that a member of Trudeau's government said that Canada's oil
is not Canada's oil?
Seems that you are just making up a nonsense claim about the government being inconsistent in its comments regarding Canada's oil.
@@jodyperyk1978 it sure seems Canadian whenever you want a pipeline built through another province.
@ 😂. You just made my point. Tried to get a pipeline west, BC fought like crazy, Quebec says nope not here, 1 territory said nada and Trudeau didn’t blink an eye when Keystone was cancelled. Rest my case.
@jodyperyk1978 have you ever considered that the reason no one wants a DilBit pipeline built through their province is Alberta refuses to share any of the revenue? If half of that funded the Federal government, Alberta would see more revenue, because the rest of Canadians would see a benefit and not just a risk.
But we did just build you that nice new pipeline over a mountain. And for the record I support Keystone XL, although I think it's a far from ideal project. Mass Commercialization of those bitumen pucks that can be loaded and shipped like coal, or the Eagle Spirit pipeline for large-scale upgraded oil to the Pacific, would be better.
Keystone cements our role as a 0 value added exporter of crude bitumen focused entirely on the US, which will ultimately end in us facing steep price discounts when Russian volumes return to Europe. But competition between Chicago and Texas refiners is better than no competition at all, and we might be able to export some internationally, or even domestically to Irving and Quebec, from the Gulf.
@ again you made my point. Alberta sends over billions to Ottawa plus employs almost a million people Canada wide. The only reason “you” had to pay for a pipeline was because of the Liberal government incompetence as this pipeline was already underway with the private sector. Instead the feds with great incompetence get involved and then the people of Canada are stuck with the price tag. This whole mess is because of the elected mess by the people of Ontario and Quebec who by the way benefit greatly from equalization. And yes Ontario did benefit this year. If our bitumen was so worthless then tell me why Trump “jokingly” referred to us as the 51st state. Perhaps look at the numbers of what is actually sent for “Canada” to enjoy and benefit from. If the federal government wouldn’t stand in the way Canada would be far richer not this dumpster fire it is now. Just remember if a carve out comes from the US for Alberta oil it will be because Alberta fought for it - not “Canada”.
Again, a 25% tariff on oil won't hurt KeyStone. US refineries won't pay any higher a price, they'll just oil sands producers less.
But this is probably part of the negotiation and we will probably build KeyStone as a result.
Edit: recent attention to Venezuela may actually indicate no KeyStone. Chevron already has sanctions exemptions I'm sure they'll be tariff exempt, and technically their condensate for heavy crude swaps don't count as buying and selling oil, and growing Venezuelan output serves a number of political goals as well as increasing regional demand for US light oil, which in many ways is lighter than the market has demand for, particularly in the light of Trump ending support for a Ukraine war and Russia returning to the European market and lowering global prices.
U.S. importers won't pay a higher price but they will pay Trump's tariff.
It's an American tax charged to Americans.
Canadians aren't going to pay it.
Americans need that Canadian oil so they will have no choice but to pay the tariff.
No, the US has far more flexibility in supply than Canada does markets. Oil sands producers are quite clearly price takers from the historical example. Refiners aren't going to pay 25% more for oil that's unprecedented. Oil sands producers charging a third less is common. Even the smallest drop in US demand would cause a price collapse on the Canadian side as it regularly has.
The Alberta royalties are based on a scaled system. Revenue drops much faster than oil prices. Canadians may not pay the tax, but Albertans will when their provincial revenue collapses.
All of that is most true of the Mining Operations, which are the largest area of employment and could see closures as the US does not need our light SynCrude.
Trudy and his Government deserves this!!!!
Trudeau has to go!!!!
thats just the ones they caught
What is Canada without the US trade and defence? Canada would be overrun by the Russians, had it not been for the US covering Canada's poor record in defense, and its inability to foster real industries.
Where do you get your "news" from? Is Canada overly dependent on US Trade? 100%. America cannot be trusted to be our ally and trade partner. Does that mean it is inevitable for this to be the case forever? Not even a little. I don't think America is going to fair well under this clown - the last time there were people with skill and intelligence undermining his stupidest impulses. Now it is all idiocracy.
This. Canada is a US client state.
Up yours buddy, where do you get your information?
@angryanne Facts are often difficult to accept! Canada does not deserve to be in the G20. It is not even a G40 nation. Overly dependent on the US, bothe in defense and trade. Your leaders never bothered to diversify their trade and build defense partners. They were more interested in filing the pockets.
@@angryanne 75% of Canada's exports are to the USA. Official Government of Canada statistics.
Stop comparing Canada to Mexico. Even one illegal crossing over the Canadian border is too much. Fix the problem.