Canada Freezes $80B Auto Trade — Carney Defies Trump’s 70% Tariff Ultimatum
MIA NEWS
Jul 11, 2025
222 subscribers ... 3,981 views ... 287 likes
🚨 BREAKING: Canada Just FROZE $80B in Auto Trade With the U.S.! 🔥
Will this SHOCKING retaliation CRUSH Trump’s entire tariff plan? 🇨🇦🇺🇸
❓How far will Canada go?
❓Can Trump handle the fallout from his 70% tariff threats?
🔍 In this episode, you’ll discover:
- 🚗 The real reason behind Canada’s refusal to sign a rushed deal
- 📉 How a frozen auto trade could trigger mass layoffs in Michigan & Ohio
- ⚙️ Why Trump’s “tariff diplomacy” may backfire across the Great Lakes supply chains
- 💣 What Mark Carney’s quiet defiance means for U.S.–Canada relations
- 📊 It’s not just about tariffs — it’s about power, production, and political survival.
- Stay tuned as we unpack what could be the biggest economic rupture in North America since NAFTA.
👉 Subscribe now to follow the global trade war unravel in real time.
#CanadaTrade #TrumpTariffs #AutoSupplyChain #MarkCarney #GlobalTradeWar #MassLayoffs #BloombergPolitics#EUeconomy #tradewar #globaleconomic #useconomic #USChinaTrade #MIANEWS
Peter Burgess COMMENTARY
Peter Burgess
Transcript
- 0:00
- 3%. That's the small number that ignited a trade firestorm, exposing the complete
- emptiness of Donald Trump. With just a 3% tax on digital revenue, Canada
- threatened to pull $2 billion out of the pockets of US tech giants, only to be
- met with a rant. Stupid. Make no mistake, Canada didn't start this. The
- 3% digital services tax was a necessary response after enduring Trump's
- ridiculous tariffs on steel and aluminum. It was Canada's counterpunch directly targeting America's prize tech
- giants, Trump's cherished darlings. Even though Canada later officially cancelled
- the plan, the real damage to America had already been done. And just the mere threat of this tax revealed the truth
- about the so-called master negotiator. He panicked, fumbled, and reacted like a
- cornered animal rather than a skilled diplomat. Earlier, after Canada decided to implement the digital services tax,
- 1:00
- Trump quickly fired back with shocking remarks. It's not going to work out well for Canada. They were foolish to do it.
- This isn't the language of a leader. It's the tone of someone with a poor vocabulary resorting to insults. Stupid.
- That's Trump's reflex. when the other side doesn't kneel. He blamed Canada for daring to implement the digital services
- tax, a legitimate self-defense move, all while ignoring the fact that he was the
- one who lit the match in this trade war. Trump swung his tariff stick at steel, aluminum, and a whole range of Canadian
- products, spreading chaos. Canada is now the largest supplier of aluminum and
- steel to the US. Starting in June, the US raised tariffs on aluminum and steel
- imports to 50%. But when Canada retaliated with a reasonable and fitting
- digital services tax, Trump called them stupid. This is cowardice disguised as
- anger. A tantrum from someone who can't accept defeat. Meanwhile, Trump's rage
- 2:02
- and the anger of his capitalist buddies were predictable. Scott Bassant, US Treasury Secretary, don't like the taxes
- and obviously we think it's patently unfair to do it retroact. The digital services tax targets the one thing they
- actually care about, profit. Let's call it what it is. This 3% tax isn't a
- punishment. It's an overdue action to restore fairness. For years, giants like
- Google, Meta, and Amazon have been exploiting Canadian user data, raking in
- billions with almost no contribution to the local economy. Now, when Canada asks
- them to give a little back, they scream unfair. The real question isn't whether
- retroactive taxes are fair, but why the injustice of these corporations being tax-free for so long was tolerated in
- the first place. Trump turned everything into chaos. Businesses didn't know which products would be taxed next. Customers
- stopped spending. Suppliers halted orders and jobs were left hanging. This is exactly what happened. While Trump
- 3:07
- gleefully taps away on Truth Social, Canadian and even US businesses struggle in the mess he created. If Trump is a
- child randomly pulling levers to see what blows up, Carney is the engineer carefully adjusting the machine. Michael
- Jist, an economic expert, warns, 'We are going ahead, even while we're negotiating, was a risky move. And to
- the extent to which we thought maybe the US was bluffing, uh, we've learned that
- they're not. They thought a few threats would make Canada back down, but Canada didn't play by Trump's rules.' They
- called out his scam. While the US flaunted its power, Canada kept negotiating and making wise decisions
- both domestically and internationally. It was a clear statement. We won't be
- bullied. The US's response. More of Trump's threats making headlines. It's
- the familiar script of someone who can only solve problems with a hammer. America burns down its own house and
- 4:02
- then sues its neighbor for putting out the fire too slowly. This is the height of absurdity. The current president is a
- master of coming soon promises. Deals almost done always in the future tense.
- He stands at G7 summits shaking hands and smiling in front of cameras, making
- promises about deals. A few weeks later, those promises end up in the political trash bin alongside other broken ones.
- His words float away with the wind. Meanwhile, Carney and the Canadian government are working behind the
- scenes, quietly making America squirm. No tweets, no drama, just action. The
- Canadians didn't just survive Trump's tariff storm. They've come out stronger. That's irrefutable proof. While one side
- makes headlines, the other builds prosperity. One leaves with tweets, the other with results. I don't think I'll
- need to. Donald Trump's cold statement when asked about extending tariffs on allies. A seemingly trivial remark, but
- 5:01
- it exposes his lethal arrogance, serving as the catalyst for pushing America's
- closest ally, Canada, out of Washington's embrace. Ironically, the
- America first policy seems to have ended with the US losing on its own turf as
- Canada's oil quietly flows toward their strategic rival, China. In a recent
- interview, when asked about extending the the 9th of July tariff deadline, Trump casually responded to Maria
- Bartromo of Fox News. I don't think I'll need to. Like an emperor granting a
- favor, he added, I could. No big deal. In just a few words, the essence of the
- America first foreign policy was laid bare. A mix of unpredictable threats and blatant disregard for allies. Trump
- likely believed this was highle negotiation, a tactic to force other nations to bend. But things didn't
- unfold as he expected. The USC relationship built on decades of trust and shared interests became the first
- 6:00
- casualty of Trump's doctrine. Instead of nurturing the alliance, Trump treated Canada as a challenger to be corrected.
- His talk of making Canada the 51st state and imposing sky-high tariffs pushed the northern neighbor to seek an escape
- route. And that route was made of steel stretching thousands of miles to the Pacific coast. Pressed into a corner,
- Canada responded. The controversial Trans Mountain pipeline expansion, once
- just an infrastructure project, became a national strategy. The goal of TMX was
- clear and unapologetic to transport crude oil from Alberta to the Pacific coast, providing Canadian producers with
- direct access to Asian markets. In other words, TMX was a means to break free
- from the almost total dependence on the US market. A dependence that became a burden and a national security risk
- under Trump. When it was complete, the first to show interest wasn't just anyone. It was China, America's number
- one strategic rival. Reports from rurers in the Institute for Energy Research,
- 7:04
- IER, confirmed an undeniable truth. China quickly became the top buyer of
- Canadian oil, surpassing the US for crude flowing through the Trans Mountain pipeline. The expanded pipeline began
- operations in May 2024 with its capacity tripling to 890,000 barrels per day,
- equivalent to the Keystone Excel pipeline. Previously, the US Midwest was the primary market for Canadian oil,
- importing 90% or around 4 million barrels per day via North South
- pipelines from Alberta's oil production heartland. Now, China had ramped up its oil transport through Trans Mountain to
- an average of 207,000 barrels per day. Since the pipeline expansion, Canada's
- oil exports to countries outside the US surged nearly 60%, reaching a record
- 183,000 barrels per day in 2024. This is the ultimate irony. A geopolitical farce
- 8:03
- so absurd it's hard to believe. While Trump loudly proclaims on social media about being tough on China and imposing
- tariffs to contain Beijing, his own policies have handed China a priceless strategic gift. With its insatiable
- demand for energy to fuel its economy, China found a stable, secure source from
- a G7 nation with a border stretching to its rival. They didn't need complex
- diplomacy or economic pressure. They just waited for Trump's short-sightedness to do the job for
- them. What makes this failure even more bitter is the reality behind Trump's rhetoric. He constantly boasted about
- making America energy independent. But as the CEO of Cenis Energy, one of
- Canada's largest oil producers, bluntly told routers, 'The US remains heavily
- reliant on Canadian oil, US refineries, especially in the Midwest, are
- specifically designed to process Canada's heavy crude. They can't easily transition to other sources.
- 9:04
- In short, this tragic comedy, Trump successfully pushed away an ally,
- forcing Canada to hand over its strategic oil reserves to China while the US still bitterly depends on it.
- This isn't negotiation. It's a geopolitical self-inflicted wound. A move that didn't make America great, but
- instead isolated it and inadvertently strengthened the very enemy he sought to defeat. Trump's I don't think I'll need
- to now sounds like a self-fulfilling prophecy. He didn't need to extend the deadline because his actions pushed
- allies to seek deals elsewhere to find new partners and new futures where America is no longer the center. In the
- end, the cost isn't just the lost barrels of oil. It's the diminished credibility, the loss of a strategic
- ally, and an indefensible failure on America's own doorstep. Over $700
- billion in global trade value is quietly shifting away from the United States and
- 10:01
- flowing into Canada. While Washington is preoccupied with tariffs, Canada, the
- quiet neighbor, has suddenly been pulling the economic lifeblood out of the US through key industries like
- mining, electrification, and logistics. This geopolitical shift isn't an
- unexpected incident. It's the inevitable result of a prolonged erosion of trust.
- Historically, the US position was built on the stability of the dollar, military power, and most importantly, the
- predictability of its policies. However, in recent years, trade wars initiated by
- Washington, sudden tariff changes, and internal political instability have
- severely shaken America's position on the global stage. Global corporations and governments who dislike uncertainty
- began seeking alternatives to mitigate risk. A warning from Seattle Port Commissioner Ryan Kulkins about the 40%
- drop in ship and container traffic wasn't just about tariffs. It's a sign that shipping companies are proactively
- 11:05
- searching for safer and more stable trade route. In this gap, Canada has acted. Instead of making loud speeches,
- Ottawa has focused on tangible actions. Building modern infrastructure, securing
- long-term contracts, and maintaining a stable legal environment, Canada has positioned itself as a reliable
- alternative. With the message, here's the stability, efficiency, and certainty
- the world is looking for. Canada's strategy isn't just about competition. It's a methodical attack aimed at
- seizing the choke points, strategic bottlenecks on which the entire 21st Saint century economy depends. This is a
- takeover executed with five pincers, creating a closed system that neutralizes America's advantages one by
- one. Canada is pursuing long-term control over battery minerals. Canada
- isn't rushing to sell resources for short-term gain. It's positioning itself as the gatekeeper of the global EV
- 12:04
- industry. Every manufacturer from Tesla to Ford with multi-billion dollar
- factories has become a hostage to this supply chain. The result, the US may
- have lost $138 billion in potential battery manufacturing value, not due to
- a lack of technology or factories, but because of the risk of material shortages. According to the Peterson
- Institute, this is a loss of industrial sovereignty, a strategic failure that can't be measured in dollars.
- Controlling minerals is just the beginning. Canada is tightening the noose by turning America's energy
- dependence into a strategic weapon. For years, the Northeast and Midwest of the
- US have relied on cheap hydroelect electric power from Quebec and Ontario. This dependence was overlooked until
- Canada turned it into a weapon. As of the 10th of March, 2025,
- Ontario imposed a 25% search charge on all electricity exported to the US as
- 13:02
- part of initial retaliatory measures against US tariffs on Canada. This sir
- charge will impact 1.5 million homes in Michigan, Minnesota, and New York,
- causing losses of up to $400,000 per day if it remains in place. Any power
- producer selling to the US must add the 25% search charge, which amounts to $10
- per megawatt hour. This sir charge adds to the $30 billion in retaliatory
- tariffs already imposed. Currently, Ontario exports electricity generated
- throughout the province directly to Michigan, New York, and Minnesota. Ontario has 26 transmission connections
- with neighboring areas. 11 with Quebec, three with Manitoba, one with Minnesota,
- four with Michigan, and seven with New York. The ripple effects from Ottawa's decision could shake things up big time
- for Detroit economically and socially. It's a direct hit to the competitiveness
- 14:01
- of factories across the rust belt. Higher production costs, slimmer profits, and jobs on the line. That's
- what's at stake. A single move in Ottawa could spark an economic storm across
- America's key industrial states. Canada's power price hike. It's not just
- a jab. It's a calculated double play way beyond simple retaliation. First, it's
- punishment. a sharp, painful counter punch to US tariff policies. But it
- doesn't stop there. Sources say Canada's locked in long-term energy deals with Europe and kicked off plans for a
- transatlantic power cable. This isn't just raising prices. It's Canada weaponizing its energy. They're signing
- stable, high value contracts with Europe and planning that undersea cable to prove a point. The days of special
- treatment for the US are over. Canada's energy is now headed to whoever pays top
- dollar and offers the most stability in the AI race. Canada's pulling ahead, raking in capital and talent with a
- 15:04
- jaw-dropping 31% spike in AI investment compared to the US's measly 6%. Take
- Telus for example. They're pouring 70 billion CAD into projects through 2029
- with 1.7 billion earmarked for AI and data centers. Canada's building a
- rocksolid ecosystem with three things the US is sorely missing. Legal stability through data agreements with
- the EU. Immigration policies that welcome top talent and cuttingedge
- infrastructure. Meanwhile, America's polarized politics and flip-flopping policies are scaring off investors and
- experts who don't want the risk. Now, let's talk logistics. The US has long
- leaned on its geographic edge and hubs like Chicago's rail network, but
- Canada's flipping the script. In the first half of 20125, US container traffic dropped 12.7%
- 16:01
- while Canadian ports like Vancouver and Halifax surged by 26%.
- Big players like Marisque and CGCM are rerouting from Seattle to Canada's coasts. And here's the kicker. CPKC
- launched a seamless transport corridor from Mexico to Halifax, completely bypassing Chicago. It's a gut punch to
- America's inland transport network. Faster by 5 days, cheaper and more efficient. For global corporations, the
- choice is obvious. Go where it's smarter and smoother. That's why $22.5 billion
- in port revenue and 27,000 American jobs vanished. Not because of a recession,
- but because a sharper competitor redrew the trade map right under our noses. These moves aren't random. They're a
- self-reforcing ecosystem. Cheap energy fuels, mineral processing, AI powered
- data centers optimized supply chains. Efficient logistics move resources to global markets. And it's all backed by a
- 17:02
- stable political environment that keeps pulling in more capital and talent. This is a masterclass in controlling the
- value chain from start to finish. From raw materials in the ground to finished products on shelves in Tokyo, it's left
- America isolated and scrambling right in our own backyard. What we're seeing is two opposite trajectories. Canada's on
- an upward spiral while the US is sliding downward. Canada's stability, both
- political and legal, is like a magnet for investment. In a chaotic world, that
- stability is pure gold. Capitals flooding into Canada as a safe haven.
- The world's best engineers and researchers are flocking to cutting edge, well-funded projects in a
- welcoming environment. This concentration of money and brain power is sparking a Cambrian explosion of
- innovation, turning Toronto and Montreal into global a hubs. On the flip side,
- America's caught in a negative loop. Political chaos, social division, and
- 18:01
- unpredictable trade and immigration policies are creating a risky environment. Investors are hitting pause
- or redirecting long-term projects to safer bets like Canada. Fewer new projects and an uncertain climate make
- the US less appealing to global talent. Even American citizens are starting to look elsewhere for opportunities. With
- less capital and fewer bright minds, America's innovation engine is slowing down compared to its rivals. The US
- isn't just losing companies. It's losing the ecosystem that creates the companies of tomorrow. Once that ecosystem takes
- root somewhere else, rebuilding it is nearly impossible. This is the kind of loss that cuts deepest. Not just a
- single battle, but the ability to compete in the wars of the next decade. Canada's proving that in today's world,
- stability and predictability can be as powerful as military or economic might.
- Greenland, home to a staggering 36 1 million tons of rare earth minerals, a
- 19:02
- colossal treasure trove that Donald Trump from the congressional podium declared the US would take control of
- Greenland one way or the other. This wasn't just a slogan. It was the public face of a massive, seemingly clandestine
- plan to annex 12 million square kilometers of Canadian and Greenlandic territory, thereby transforming the
- United States into the planet's largest superpower. The ambition to control the Arctic has been simmering in Washington
- since World War II when Nazi Germany ran rampant across Europe. The US, whether
- through foresight or simple opportunism, swiftly established military outposts
- and radio stations across the icy island as Denmark fell under occupation. This
- was no mere situational response, but the first move in a long-term strategy to dominate the shortest, most strategic
- sea route from Russia to America via the Arctic. Today, as the Russian bear and
- the Chinese dragon increasingly bolster their military presence in this frigid expanse, America's Arctic dream,
- 20:05
- particularly under Trump, has become all the more fierce. From the congressional podium, Trump didn't hesitate to declare
- he would take control of Greenland one way or the other. A statement that was quintessentially Trump, uncompromising,
- and perhaps a tad undiplomatic. Imagine if the US successfully swallowed whole
- both Canada and Greenland. Its land mass would double to a staggering 22 million
- square kilm, surpassing even Russia and leaving China far behind. We're going to
- start sending letters out to various countries starting tomorrow. And they'll range in value from maybe 60 or 70%
- tariffs to uh 10 and 20% tariffs. On the 4th of July, while Americans celebrated
- their independence with fireworks and parades, President Donald Trump took a different approach. From the East Room
- of the White House, he launched the next phase of his global trade campaign, announcing that letters would be sent to
- 21:00
- countries around the world, laying out new US tariff rates ranging from 10% all
- the way up to 70%. These tariffs, he said, would go into effect on the 1st of
- August. The message was clear. Sign a deal or face the cost. With agreements
- already reached with Vietnam and the United Kingdom, Trump felt vindicated. But one country just across the northern
- border remains locked in an unusually tense standoff. Canada. And unlike the
- others this time, Trump's strategy may hit a wall. Trump says he plans to spend
- part of his Fourth of July holiday sending letters to countries notifying them of their new tariff rates. We have
- a lot of great things going and we're getting along with countries, but some will be disappointed because they're
- going to have to pay tariff. Trump's 90 deals in 90 days campaign has picked up
- pace. The UK locked in a mini deal. Vietnam accepted a revised tariff
- schedule. According to Treasury Secretary Scott Bezant, around 100 countries could qualify for a 10% base
- 22:04
- rate if they reach terms fast. But Canada is taking a different approach.
- Rather than rushing into a deal, Ottawa has reopened negotiations carefully and
- only after withdrawing its digital services tax to get back to the table. Even so, no agreement has been
- announced. What's different this time is that Canada, unlike others, seems
- willing to push back. Americans are celebrating their country's past and present today on Independence Day. While
- Canadians are expressing concerns about what the future could hold for the Canada US relationship for months, trade
- talks between the US and Canada had stalled. In late June, Trump abruptly
- walked away from the table after Canada moved ahead with its digital services tax, a 3% levy targeting US tech giants.
- Days later, under pressure, Prime Minister Mark Carney repealed the tax to reopen negotiations, but the concessions
- 23:00
- stopped there. Unlike other nations, Canada hasn't rushed to finalize a new deal. Instead, it has taken a quieter,
- slower approach, reopening discussions, but refusing to give in to every demand
- that includes Trump's likely next target, Canada's dairy sector. Canada's supply management system, which uses
- quotas and tariffs to protect domestic milk producers, has long been a sore point for Trump. But for Canadian
- policymakers, it's a non-negotiable pillar of economic sovereignty. Reforms
- would require political capital, cross-provincial consensus, and potentially an act of parliament. Though
- dairy was not officially raised, the idea of including it in the talks has triggered political backlash in Canada.
- And so far, Carney has not signaled any willingness to make concessions. This
- resistance is more than symbolic. If no agreement is reached by the the 21st of
- July deadline, Canada could face tariffs as high as 70% on its steel, aluminum,
- 24:04
- and auto exports, sectors deeply integrated into US supply chains. The
- risk here is mutual. According to Statistics Canada, over 75% of Canadian
- automotive exports, roughly 80 billion Canadian dollars per year, go directly
- to the United States. Meanwhile, US manufacturers rely heavily on Canadian
- inputs, especially in the Great Lakes region. Trump's escalating tactics may
- spark retaliation, not just diplomatically, but economically. If the US imposes sweeping tariffs on Canada,
- it could disrupt prosper supply chains, increase prices for US consumers, and
- trigger political blowback in Midwestern states. I think the reality is we're
- dealing with a president who is incredibly abnormal and not something we're used to. Trump's tariff first
- strategy has delivered quick deals in some cases, but with Canada, the calculus is different. This is not a
- 25:02
- developing economy, adjusting its terms to avoid disruption. It's a G7 ally with
- the economic weight and political structure to absorb short-term pressure. By pushing too hard, Trump may risk
- breaking a relationship that has long benefited both nations. A deal is still possible, but if the US insists on
- unconditional surrender, Canada may choose to walk. And if that happens, the
- 21st of July won't just mark a failed negotiation. It could mark the beginning of something far more costly, the
- unraveling of North America's most vital trade alliance. US President Donald
- Trump leveraged trade talks to get Canada to back off the digital services tax and now his sights might be set on a
- bigger fish. Or is it a cow? Trump has long complained about the system in place to protect Canada's dairy industry
- known as supply management. In 2025, Donald Trump reignited his campaign of
- 26:00
- economic pressure. One deal at a time, one threat at a time. He's already
- pushed Canada back to the table. Now he wants more and his new target isn't steel or tech, it's milk. Trump has long
- slammed Canada's dairy supply management system, a system he says cheats American
- farmers and distorts trade. With bilateral talks underway and a 21st of
- July deadline looming, the question is clear. Will Trump make dairy the next big demand? And if he does, how far will
- Canada go to resist? Uh, listen, Donald Trump is in Iowa tonight. He has said he
- will be talking about his trade agenda as it relates to farmers. Sounds like another chance for him to weigh in on
- his complaints about Canadian dairy. Trump is attacking a system that has defined Canadian dairy for decades.
- Supply management sets strict quotas on how much milk Canadian farmers can produce and how much foreign milk can
- enter. Once import quotas are filled, tariffs spike often to 250 or even 300%.
- 27:06
- To Trump, that's not partnership, that's protectionism. He says American farmers
- are locked out, even when agreements like USMCA promised better access. At
- recent rallies, he's escalated the pressure, linking dairy tariffs to bigger grievances, trade deficits,
- unfair subsidies, and what he calls a one-sided relationship. His logic is
- simple. If Canada wants a broader trade deal, the dairy wall has to come down. And for a president who thrives on clear
- winds, breaking Canada's dairy defenses would be another trophy. But this time,
- Canada isn't just relying on quiet resistance. In June, the Canadian Parliament passed a law that explicitly
- prohibits using the dairy system as a bargaining chip in trade negotiations. The legislation passed unanimously,
- supported by every party. The message, dairy is off the table. For supporters,
- 28:02
- the system isn't just about milk. It's about food security, rural jobs, and
- price stability. Instead of chasing volatile global markets, Canada caps
- production, sets prices based on actual costs, and avoids overpraction. It's not
- perfect, but it's predictable. And for smaller farms in Quebec, BC, and across
- the prairies, that predictability means survival. Still, the pressure is real.
- The US ambassador has publicly stated that if Trump and Carney reach a deal, Parliament will find a way to follow. In
- other words, laws can change if the political will is there. And like Mr. Carney is a good man. He's an
- intelligent man, but he's is the only arbiter of what's in the best interest of Canada. For Prime Minister Mark
- Carney, the next few weeks will be critical. He's promised to protect the dairy system, but he also wants a
- comprehensive trade deal with the US, one that restores stability for auto parts, steel, and prosper investment. If
- 29:05
- Canada refuses to budge on dairy, Trump could walk away or impose new tariffs starting the 9th of July. But if Carney
- conceds, the political cost could be severe. Dairy is deeply embedded in
- Canada's political fabric. The new law was designed to raise the stakes to ensure that any future concession would
- come with a heavy price, and Carney knows yielding now could fracture support across key provinces. Former
- officials have already warned about setting dangerous precedents. One retreat invites another. And if dairy
- falls, what comes next? Water, environment, immigration. This is no
- longer just a policy debate. It's a confrontation between two visions of power. Trump's brute force leverage and
- Canada's attempt to defend a domestic model built over generations. If Trump succeeds in cracking Canada's dairy
- shield, it will be more than a trade victory. It will prove that even the most entrenched domestic systems can
- 30:03
- fall under pressure. And if Carney holds the line, it could mark the moment Canada reasserts its economic
- sovereignty or faces retaliation. Either way, the clock is ticking and the milk
- fight is just getting started. Um, last night I had a uh a good conversation
- with President Trump uh and we agreed to recommence uh our negotiations uh with a
- view to the 21st of uh July deadline that we had agreed in Canonascis. So
- what can we expect from the Trump administration now that talks with Canada are back on? Canada blinked and
- Trump seized the moment. Just hours before a controversial digital tax was set to take effect, Prime Minister Mark
- Carney called President Trump and surrendered. Canada scrapped a law worth 7 billion Canadian dollars, hoping to
- reopen trade talks that Trump had abruptly shut down just days earlier. It worked. Talks resumed. Trump got
- everything he wanted without giving an inch. But he's not finished. He's pressing for more. And this time the
- 31:05
- price could be even higher. How far will Trump push? And how much more can Canada
- afford to give here? Canada seemingly has played this cart point in time. And so was it withdrawn out of goodwill? And
- is it going to get us more than just talks restarting? Trump got exactly what he wanted without offering anything in
- return. The tax is gone. The 301 investigation candled threatened tariffs
- suspended for now. But Canada didn't win any tariff relief. As of the 30th of
- June, the US maintains elevated tariffs on Canadian steel, aluminum, and autos
- as high as 50% in some categories since March 2025.
- This follows a pattern. In recent trade talks with the UK, Trump agreed to resume dialogue, but didn't remove
- tariffs. means the US Canada talks even now are happening with a loaded gun on the table and Trump's finger is still on
- 32:01
- the trigger is a big victory for our tech companies and our American workers here at home on this planet. Um and
- every country on the planet needs to have good trade relationships with the United States. Even after getting what
- he wanted, Trump didn't ease up. He's still pushing for access to Canada's tightly controlled dairy and poultry
- sectors, areas protected under Canada's supply management system. And he's gone
- further, accusing 11 out of 13 Canadian provinces of banning American products
- from shelves or shutting US companies out of procurement contracts. He's called these moves nasty. And though no
- new tariffs have been triggered yet, the threat still hangs. Behind closed doors,
- both US and Canadian negotiators know Trump doesn't let things go. He escalates until he wins more or until
- the other side walks. In Mr. Carney's comments earlier today, he talked about
- this being part of a larger negotiation, but he said it was expected as part of a bigger deal. Talked about it not making
- 33:03
- sense to collect these revenues and later have to remit them. Almost positioning this, Carney for now is
- staying calm. He says negotiations are part of a broader deal and emphasizes that everything is still in progress.
- But behind that calm is concern. Canada has already offered a lot. Since December 2024, the KN government has
- approved billions more in border security spending. supported the controversial US-led Golden Dome Missile
- Defense Initiative, passed Bill C2 on border measures, and passed Bill C5 to
- ease US investment in Canadian critical minerals, and now the DST is gone. The
- most direct economic concession to date. What has Canada gotten in return? Not
- much. No tariff relief, no market access wins, no permanent guarantees. Trade
- expert Stuart TR calls this an extremely high price to pay just to return to
- 34:01
- negotiations with no guarantee of success. And the negotiations themselves
- remain secretive, giving no clarity on what else Canada might be forced to give up next. Both sides are aiming for a
- final deal by the 21st of July, less than 3 weeks away. But even with talks
- back on, nothing is certain. If Trump refuses to offer meaningful concessions
- like tariff roll backs or access guarantees, this apparent victory may unravel. Carney could walk away again,
- this time with a stronger case. Canadian Parliament might block deeper concessions, especially on agriculture.
- Or Canada could quietly lean more toward Europe, rebalancing its trade ties beyond Washington. Trump may have won
- this round, but if he overreaches, if he demands too much, offers too little, and
- pushes too hard, he risks losing the very deal he just got back on track.
- Because even the quietest partner can flip the table when pushed too
| |