TrueValueMetrics ... Impact Accounting for the 21st Century

Date: 2025-10-14 Page is: DBtxt003.php txt00029121

CANADA CARNEY -V- TRUMP The Brief Reporter: Trump Stunned as Carney Poked Fun at Him on Stage - 'Don't Push A Canadian Too Far, Donald' PLAY YOUTUBE VIDEO Original article: https://www.youtube.com/watch?v=q3kxkjnsj74
Trump Stunned as Carney Poked Fun at Him on Stage - 'Don't Push A Canadian Too Far, Donald' The Brief Reporter 3.38K subscribers ... 5,858 views ... 432 likes Sep 10, 2025 #trumptariffs #DonaldTrump #g7summit2025 Trump Stunned as Carney Poked Fun at Him on Stage - 'Don't Push A Canadian Too Far, Donald' At the Toronto International Film Festival, Canadian Prime Minister Mark Carney surprised the audience by poking fun at Donald Trump with a sharp reminder: “Don’t push a Canadian too far.” What looked like a cultural tribute quickly turned into a political signal that Canada will not be intimidated by U.S. tariffs or Trump’s aggressive tactics. In this video, we break down Carney’s subtle jab, the deeper economic strategy behind his words, and why this moment has become a turning point in Canada–U.S. relations. Watch how humor turned into defiance on the global stage. Disclaimer: This video's content reflects the author's personal beliefs based on the information and research at hand. It is not a proposal for policy or financial advice. The Fair Use concept governs the use of third-party content for analysis, commentary, and teaching. This video uses AI-generated voices and images. Updates to policies and changes in the market could cause information to change. Before making choices, viewers should do their own research. #trumptariffs #DonaldTrump #ChinaTradeWar #breakingnews #TheBriefReporter #g7summit2025 How this content was made Altered or synthetic content Sound or visuals were significantly edited or digitally generated. Learn more Peter Burgess COMMENTARY Peter Burgess Transcript 0:00 Don't push a Canadian too far. I mean pushed too far. Pushed too far. Pushed too far by someone who's richer, someone who's more powerful, maybe a little more arrogant. I don't know. I can't think of an analogy. At the Toronto International Film Festival this year, the spotlight was not only on cinema. It was also on Canada's Prime Minister Mark Carney. In a tribute speech, he recalled how Canadian actor John Candi often played characters who were pushed too far, who eventually stood up for themselves. Carney then added his own twist. He reminded the audience that Canadians too will not sit quietly when their sovereignty is challenged. On the surface, it was a celebration of film, but underneath it carried a pointed message. At a cultural festival known for its global reach, Carney sent a signal to Washington. Canada, he implied, will not be intimidated by Donald Trump's pressure. Using the language of film and humor, Carney 1:01 transformed an art stage into a platform 1:04 for political resistance. 1:07 The timing of this remark matters. Only 1:10 days earlier, the United States had 1:12 raised tariffs on Canadian goods outside 1:15 the USMCA framework from 25 to 35%. 1:19 These measures announced on August 1st 1:22 under the International Emergency 1:24 Economic Powers Act struck industries 1:26 like softwood, lumber, steel, and 1:28 aluminum. Trump called them reciprocal 1:31 tariffs. For Canadian producers, they 1:33 were a direct threat to their 1:35 livelihoods. In this climate, Carney's 1:38 line about being pushed too far was not 1:40 entertainment. It was a response to 1:43 escalating trade aggression. The prime 1:45 minister had already introduced an $80 1:48 million regional tariff response 1:50 initiative for small and medium-sized 1:52 businesses in Atlantic Canada, helping 1:55 them invest in new markets and storage 1:57 systems to reach Europe and Asia. His 2:00 government framed this as part of a 2:01 broader plan to give companies the tools 2:04 to adapt rather than wait for uncertain 2:06 outcomes. By placing humor and 2:09 resilience side by side with practical 2:11 support, Carney sent a clear message. 2:14 Canada would not bow to Trump's tariffs, 2:16 but would act with both defiance and 2:19 preparation. 2:21 That same week in Ontario, Carney 2:24 expanded on this theme. He described the 2:26 global trading system as experiencing 2:28 not a transition, but a rupture. 2:31 According to him, the United States had 2:33 moved away from decades of free trade 2:36 and returned to economic nationalism 2:38 with tariff rates at their highest since 2:40 the Great Depression of the 1930s. These 2:43 are not small adjustments. Supply chains 2:46 built over generations are now being 2:48 disrupted. Companies are holding back 2:50 investment and workers in multiple 2:52 sectors are facing new uncertainty. 2:55 Carney argued that Canada cannot afford 2:57 to rely on one partner even if that 3:00 partner is the United States. His 3:02 government announced a major projects 3:04 office to fasttrack infrastructure and 3:06 energy projects while reinforcing a by 3:09 Canadian strategy to keep domestic 3:11 demand strong. The purpose was not only 3:14 to defend against US tariffs but also to 3:17 reorient Canada toward a wider network 3:20 of allies in Europe and Asia. Taken 3:22 together, these steps underline a 3:25 national strategy that goes beyond 3:27 symbolic gestures. Carney's tiff remarks 3:30 were a cultural prelude to a 3:32 comprehensive economic plan. 3:35 We're in a more dangerous, divided, and 3:38 intolerant world. 3:41 In Canada, our sovereignty, our identity 3:44 has come under threat. And when 3:46 Canadians heard those threats, they 3:47 channeled their inner John Candy. Hope 3:51 is not a strategy. It's time, as I said 3:54 earlier, to control what we can control. 3:57 the products we buy in Canada. 4:01 Taking the time so our businesses can 4:03 have what they need to adjust to new 4:05 realities. 4:07 This contrast with Donald Trump could 4:10 not be sharper. In Washington, tariffs 4:12 have become the hallmark of economic 4:14 policy. By early August, global rates on 4:17 over 60 countries ranged from 10 to 50% 4:21 with Trump even threatening 100% duties 4:24 on semiconductors. The White House 4:26 defended these as necessary to bring 4:28 jobs home, but independent studies, 4:31 including those from US universities 4:32 like Yale, have warned of rising 4:35 household costs. In Ottawa, the response 4:37 has been different. Car's approach ties 4:40 national pride with economic resilience. 4:43 His choice of words at TIFF and his 4:45 policy speeches afterward both reflect 4:47 the same theme. Canada will defend its 4:50 sovereignty by diversifying, investing, 4:52 and standing together. What began as a 4:55 tribute to an actor became a declaration 4:57 of strategy. For Canadians, the message 4:59 was unmistakable. Their prime minister 5:02 used humor to mask steel, turning a 5:04 festival of stories into a reminder that 5:07 Canada is ready to write its own. 5:11 Prime Minister Mark Carney spoke with US 5:13 President Donald Trump on the phone 5:14 today, weeks after blowing past the 5:16 August 1st deadline for a trade deal. 5:19 The leaders discussed current trade 5:21 challenges, opportunities, and shared 5:23 priorities in a new economic and 5:26 security relationship between Canada and 5:28 the US. The leaders after weeks of 5:31 silence, Prime Minister Mark Carney and 5:33 President Donald Trump finally spoke by 5:35 phone. Ottawa described the conversation 5:38 as substantive and productive, focused 5:40 on trade challenges, new economic 5:42 priorities, and Ukraine. Washington gave 5:45 no statement, reinforcing the sense of 5:47 imbalance. Still, the fact that they 5:50 spoke matters. It was the first contact 5:52 since Trump's August 1st deadline passed 5:55 without a deal, triggering a 35% tariff 5:58 on Canadian goods outside Kusma and a 6:00 50% duty on steel and aluminum. 6:04 The call comes as Trump pushes a 6:05 disruptive style of negotiation. 6:08 Earlier this month, the United States 6:10 extended 50% tariffs not only on metals, 6:12 but on more than 400 industrial products 6:15 containing steel, from cranes to rail 6:17 cars, even though these items were 6:19 nominally covered under Kusma. The 6:21 message was unmistakable. 6:23 Trump is willing to stretch rules and 6:25 keep the threat of leaving Kusma on the 6:27 table. But tariffs bring costs at home. 6:30 Walmart recently warned of higher prices 6:32 feeding through supply chains. In April, 6:35 the Yale Budget Lab estimated that the 6:37 2025 tariff package would raise US 6:40 consumer prices by 2.3%. 6:42 Equal to about $3,800 per household 6:46 using 20024 prices. In July, the Federal 6:50 Reserve Bank of San Francisco projected 6:52 that if tariffs remain high, US real 6:55 incomes could decline by about 0.4% by 6:58 2028. 7:00 The Center for Automotive Research in 7:02 Michigan also cautioned that a 25% 7:05 tariff on autos and parts could add $18 7:08 billion to industry costs this year. 7:11 These figures show that disruption 7:13 abroad is also a strain at home. 7:16 For Canada, the challenge is immense, 7:18 but it is not helpless. Carney has 7:20 resisted calls to match Trump's every 7:22 move, choosing instead a strategy of 7:25 patience while holding on to powerful 7:27 cards. Energy remains the most obvious. 7:30 In 2024, Canada exported close to 4 7:34 million barrels of crude oil per day to 7:36 the United States, by far America's 7:38 largest source of imports. 7:41 Natural gas shipments were more than 8 7:43 billion cubic feet per day. And Canada 7:45 supplied roughly 27% of all uranium used 7:48 in US nuclear power plants. These are 7:50 dependencies that Washington cannot 7:52 easily replace. Canada also holds an 7:55 advantage in critical minerals. Nickel, 7:58 cobalt, and rare earth elements mined 8:00 north of the border are essential for 8:02 electric vehicles and defense supply 8:04 chains. And despite the new tariffs, 8:07 about 85% of bilateral trade still moves 8:09 duty-free under Kusma, giving Canadian 8:12 exporters a core of stability while 8:13 disputes play out. Ottawa has also been 8:16 selective in retaliation. In March, it 8:19 applied 25% tariffs on 30 billion 8:22 Canadian dollars worth of American 8:23 goods, targeting consumer products like 8:26 beverages, food items, and motorcycles. 8:28 Pressure points designed to hit 8:30 politically sensitive constituencies in 8:32 the United States. 8:34 The readout also says Carney and Trump 8:36 agreed to talk again soon. 8:40 Looking forward, three paths are 8:41 possible. One is a framework similar to 8:44 those signed with the UK, Japan, and 8:46 South Korea, where tariffs were capped 8:48 around 10 to 15% in exchange for 8:51 investment pledges and purchases. 8:53 Another is for Canada to use energy and 8:56 minerals more directly in talks, 8:58 offering stable access in return for 9:00 tariff relief. A third is legal and 9:02 structural, from pursuing cases under 9:04 KUSMA and the WTO to diversifying 9:07 exports toward Europe and Asia. None of 9:09 these paths guarantee immediate relief, 9:11 but they underline that Canada is not 9:13 without leverage. Trump remains central, 9:16 but Carney has shown he will not rush 9:18 into a bad deal. The recent call did not 9:21 solve the trade standoff. Yet, it marked 9:23 the beginning of the next phase where 9:25 endurance and strategy will decide how 9:27 North America's two closest partners 9:29 manage one of their most volatile 9:31 economic relationships in decades. 9:34 We have protected the integrity of 9:37 Kousma. Canada is calling into question 9:42 uh the future of Koosma. It's not the 9:44 United States of America. It's Canada. 9:48 In mid August 2025, trade talks between 9:51 the United States and Canada have 9:53 reached a standstill. The gap isn't just 9:55 about tariffs on steel, aluminum, or 9:58 autos. The bigger focus, the one casting 10:01 a long shadow over both capitals is the 10:04 future of the US Mexico Canada agreement 10:07 or USMCA. 10:09 This agreement shields roughly 85% of 10:11 crossber trade between the US and Canada 10:14 from tariffs keeping supply chains in 10:16 North America largely integrated. But 10:18 now it's under strain. US Ambassador 10:21 Pete Huxra has publicly accused Canada 10:24 of undermining USMCA by responding to 10:26 Trump's tariffs with retaliatory 10:28 measures. In Ottawa, leaders see it 10:31 differently as a necessary defense in a 10:33 trade war Washington started. 10:36 you had the sense that he was recounting 10:37 an alternative history in terms of the 10:40 notion that Canada had somehow attacked 10:42 the United States when in fact of course 10:44 we know that the tariff war that was 10:46 launched by President Trump hit Canada 10:48 first and hit Canada hardest uh of all 10:51 the US trade partners. 10:54 The stakes go beyond political sparring. 10:56 If USMCA is altered or dismantled, it 10:59 could reshape not just the USC Canada 11:02 relationship, but the economic stability 11:04 of all North America. 11:07 Trump's strategy has been to keep 11:09 constant pressure on Ottawa. Since 11:11 August 1st, Canadian goods outside USMCA 11:14 rules face a 35% tariff, up from 25% 11:18 with metals like aluminum still taxed at 11:21 50%. 11:23 Washington insists these moves are 11:24 leverage, not punishment. Canada, under 11:28 Prime Minister Mark Carney, is holding 11:30 firm. The government refuses to sign 11:32 what it calls a bad deal, even if that 11:35 means waiting until the official USMCA 11:37 review in 2026. 11:40 Behind the scenes, Ottawa is 11:41 strengthening ties with Mexico, seeking 11:44 coordinated positions in case Washington 11:46 tries to reopen negotiations early. 11:48 Ontario Premier Doug Ford has warned 11:51 that Trump might do just that, possibly 11:53 before the end of 2025. 11:56 The US also faces its own risks. If 11:59 USMCA collapses, American industries 12:02 that depend on Canadian energy, auto 12:04 parts, and minerals would see costs 12:06 spike. That's why Canadian officials 12:08 believe patience is their strongest 12:10 weapon, using time to diversify export 12:13 markets while keeping USMCA's 12:15 protections in place. 12:17 While highlevel negotiators trade 12:19 statements, the effects of tariffs are 12:21 filtering into American households. 12:24 Aluminum goods from Canada are subject 12:26 to a 35% tariff, which could mean higher 12:29 costs for certain drinks and canned 12:30 goods. 12:31 They don't understand that tariffs are 12:33 paid by the consumer. Okay. 12:37 In Seol County, Florida, shoppers are 12:39 finding sharp price increases at the 12:41 grocery store. Parmesan cheese that sold 12:44 for $12.99 12:46 is now $16.99. 12:49 Coffee, sugar, and meat from Brazil, now 12:52 under a 50% US tariff, are climbing in 12:55 price. Even champagne is up by a couple 12:57 of dollars. Aluminum products from 13:00 Canada, taxed at 35%, add to the cost of 13:03 canned goods and beverages. According to 13:06 a recent poll, 53% of Americans now say 13:09 grocery costs are a major source of 13:11 stress. The US Census Bureau reports 13:14 that imports are declining as companies 13:16 buy less under higher tariffs, which in 13:19 turn makes foreign produced goods even 13:20 more expensive. For many, these aren't 13:23 abstract trade policy outcomes. Their 13:25 changes felt directly at the checkout 13:27 counter, forcing consumers to rethink 13:29 daily choices. One Florida resident told 13:32 local reporters he may start eating out 13:34 more because cooking at home has simply 13:36 become too costly. 13:39 They're clearly not trying to come to a 13:40 fair deal. They we know that they see 13:42 tariffs as like a revenue stream um a 13:45 way to tip the scales in favor of the 13:48 US. 13:50 Trump views tariffs as a negotiating 13:52 tool designed to pressure trading 13:54 partners into making concessions. 13:56 But the longer the standoff lasts, the 13:59 more the costs land squarely on American 14:01 consumers and businesses. That reality 14:04 could carry political consequences, 14:06 especially if prices keep rising into 14:08 the fall. Canada, meanwhile, is playing 14:10 a longer game. By holding firm, 14:13 maintaining alliances, and keeping USMCA 14:16 protections intact, Ottawa aims to avoid 14:19 rushed concessions while showing it can 14:21 weather the storm. This isn't just about 14:23 one agreement. It's about setting the 14:26 terms for how North America trades for 14:27 the next decade. The question is no 14:30 longer whether tariffs hurt both sides. 14:32 They do. The real question is who can 14:35 endure the pressure longer. 14:38 For now, the US Canada standoff over 14:40 USMCA remains a contest of resolve. And 14:44 it's American voters who may decide when 14:46 enough is enough. 14:49 you say and now he could p suddenly all 14:52 of a sudden open up the US MCA. What 14:55 would the impact be for Canada and for 14:58 the US if if President Trump pulled out 15:00 of that agreement? 15:02 He wants to hurt the American people and 15:04 that's exactly what he's doing that a 15:06 tariff on Canada is a tax on the 15:08 American people. Since August 1st, 15:11 Canada's trade with the United States 15:12 has faced its toughest strain in 15:14 decades. With Canada now among the 15:16 hardest hit by Trump's latest global 15:18 tariff measures 15:21 across the entire country of Canada, 15:23 it's probably closer to 20 million 15:25 Americans rely on Canada for jobs and 15:28 vice versa. We we rely on uh uh jobs uh with trade with the US, but it's just hurting both countries. Ontario Premier Doug Ford didn't wait to sound the alarm. Speaking directly to American viewers on CNN, he warned that Trump could end or reopen USMCA with a single signature years ahead of the scheduled 2026 review. Ford stressed that these tariffs are not just punishing Canadian exporters, they are effectively taxing American consumers. 16:00 He pointed to recent job losses in the United States. More than 37,000 manufacturing jobs gone since April, the lowest employment level in that sector in 5 years, and $6.2 billion in new costs for the US auto industry. Ford's choice to take this message to US media wasn't just about defending Ontario. It was aimed at building political pressure inside the United States, where the economic fallout is already visible. While Ford has chosen to confront Trump's tariff agenda head-on in the public arena, Prime Minister Mark Carney is taking a different path, one defined by strategic patience and careful calculation. Uh, of course, the Prime Minister has to weigh all industries, not just the specific industries that are immediately impacted, but has to weigh industries against industries, has to weigh region against region, and the unity of the country. Well, I think it's been a very wise and strategic, a cohesive uh approach uh on behalf of all Canadians. 17:03 Prime Minister Mark Carney's response has been deliberate. After the August 1st increase, Ottawa did not announce a fresh round of retaliatory tariffs. Instead, Carney emphasized keeping channels to Washington open and weighing the national interest across all sectors before acting. Carney's calculation rests on the fact that USMCA still shields most of Canada's trade. In June, Royal Bank of Canada data showed that 92% of Canadian exports to the US entered duty-free. The remaining 8%, largely steel, aluminum, and other sensitive products faced an average tariff of about 30%. Rather than rush into concessions, Carney's team is pursuing market diversification. Trade with the European Union has grown by double digits. Exports to the United Kingdom are up and highlevel ministers have been in Mexico to coordinate strategy and avoid the divide and conquer approach many in Ottawa expect 18:01 from Trump in any USMCA renegotiation. Yes, we're having discussions with the Americans. Prime Minister Carney wouldn't say when he'll next speak to US President Donald Trump, but Ontario's premier didn't mince words. What's the general impression of Trump in Canada? He's probably the most disliked politician in the world in Canada. Ford and Carney are working toward the same end, protecting Canada's economic position. But their methods could not be more different. Ford speaks in blunt terms, calling Trump the most disliked political figure in Canada and focusing on the American costs of tariffs. Carney stays measured, avoids personal attacks, and times his interventions to maximize leverage at the negotiating table. This dual track, public pressure and quiet diplomacy, has so far kept Canada's response cohesive while signaling to Washington that Ottawa will not fold quickly. 19:01 The threat of an early USMCA rupture is real. Trump has shown he's willing to move outside established timelines if it strengthens his bargaining position. Yet Canada retains leverage, strategic minerals critical to US manufacturing, energy exports, and a strong agricultural trade. Trump also faces rising consumer prices and job losses at home, which could narrow his room to escalate. The challenge for Canada will be to maintain its stance without closing the door on solutions that serve both sides. The period since August 1st has revealed a highstakes test of endurance between Washington and Ottawa. Trump is pressing hard with tariffs to force movement. Carney is meeting that pressure with strategic patience while Ford raises the volume in the US media. How long each side can hold their position and what political cost Trump is willing to bear will determine whether this standoff ends in a balanced agreement or in a rupture that reshapes North American 20:00 trade farther than planned. This is the effect of Donald Trump's tariffs. I'm going to show you a pretty bad one right here. This is on child's clothes. You can see they ripped off the bottom. That's what it's supposed to look like, $6.98. These are up to 108 now. That is a $4 increase. In the early hours of August 7th, 2025, President Donald Trump activated his long planned global tariff package. Duties of 10 to 50% on more than 90 countries, pushing the average US import rate above 17%, the highest since the Great Depression. Canada was already on his list. Since August 1st, a higher tariff tier has applied to Canadian goods outside USMCA rules, part of a broader offensive that also targeted the European Union, India, Brazil, and Mexico. The intent was straightforward, hit multiple partners at once and extract faster concessions. But as the weeks unfolded, the strain began to boomerang back on the US economy. 21:02 Prices are starting to rise for American consumers. As President Donald Trump's sweeping tariffs on nearly all imported goods are kicking in, the price shock came from the package as a whole, not just Canada. According to Cox Automotive, new car prices are projected to climb 4 to 8% in 2025. Even Ford with most of its assembly in the US has paid about a billion dollars in tariff costs and raised prices on Mexico built models. Yale's budget lab estimates shoe prices will surge 40% and clothing 38% as tariffs on Vietnam and India squeeze global sportsear brands. Proctor and Gamble confirmed in late July it will raise household product prices by singledigit percentages after months of trying to hold the line. Imported staples, olive oil from Europe, Brazilian coffee now under a 50% tariff, and aluminum from Mexico for beer cans are all climbing. Some importers 22:00 initially absorbed the cost, but retailers warned thin margins won't hold. Walmart has signaled that higher shelf prices are inevitable, while smaller stores feel the pinch sooner. Inflationary pressure is now combining with Trump's push for lower interest rates, raising concerns over a double whammy on consumer prices. With the looming threat of US President Donald Trump's tariffs, a byanadian movement has picked up across the country. You may have noticed it when you go into grocery stores or supply shops, a tag that tells you if the product you're about to pick up is made in Canada. As the global tariff wave began to push up costs in the United States, Ottawa seized the moment to strengthen its negotiating position, Prime Minister Mark Carney held firm on Canada's 25% retaliatory tariffs, targeting US goods tied to influential industries. By keeping that pressure in place, Canada ensured the discomfort was registered not just by corporations but by lawmakers in Washington. 23:00 And I still have to get a can of Campbell suit that's putting that Canadian flag on that's not being manufactured here, misleading the people. They're going to rip that label off, encourage people to buy made in Ontario, made in Canada soup. At home, Ontario Premier Doug Ford amplified the strategy. His push for clear origin labeling and his public criticism of companies outsourcing production showed a united political front committed to protecting domestic industry. These moves weren't only about internal policy. They signaled to the US that Canada's leadership was aligned and prepared to act in defense of its interests. Meanwhile, Canada accelerated trade diversification toward the EU, UK, and Mexico, reducing dependence on the US market precisely as American import costs were climbing. The combination of targeted tariffs, domestic unity, and new trade channels turned a defensive posture into a calculated offense, allowing Canada to press its advantage. While Trump faced growing economic pressure at home, 24:02 Trump began August with an aggressive trade play, expecting quick compliance from partners. Instead, his global tariff web has spread economic pressure across US industries and households, while Canada has held steady. By maintaining its counter measures, reinforcing domestic production, and diversifying export markets, Ottawa has positioned itself as an active player, not a subordinate. The contest is now a measured standoff. The US wields market scale. Canada holds supply chain and resource leverage. The final outcome remains uncertain, but one fact is clear. The tariffs designed to force Canada into retreat have instead created a more balanced battlefield where Ottawa can negotiate from strength and shape the terms of the next move.

SITE COUNT