Canada has issued a strong warning to U.S. President Donald Trump after his administration announced a massive 50% tariff on Canadian goods, set to take effect on August 19. Prime Minister Mark Carney declared that Canada will retaliate, saying "everything is on the table" if the tariffs move forward. The U.S. claims the tariffs are a response to Canada's alleged discrimination against American motor vehicles, dairy, and alcohol. With trade negotiations intensifying, fears are growing that the dispute could escalate into a full-scale economic confrontation between the two allies.
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NewsTranscript
00:00Well, let's do a couple of things. Sorry, I'm going to do a little premise surgery for your question.
00:07Let's be clear about the bridge.
00:10The bridge, first off, the bridge is open.
00:11The bridge is open in a region, a narrow economic region, that has $300 billion of economic activity
00:18that goes across land connections between the United States and largely the province of Ontario.
00:25$300 billion of economic activity.
00:26$6.5 billion cost of that bridge.
00:32An agreement that's less than 5% of that amount, less than 5% of that amount,
00:39that is then reinvested in support, economic support, for that economic activity to enhance that economic activity.
00:47So we put that in perspective.
00:51That's being pragmatic and moving forward.
00:54And we've got to bridge this open.
00:56We've got opportunities open.
00:57And in terms of where we are as a country, we still have the lowest tariff rate of any country
01:05on an average basis.
01:07We still have north of 80% of our trade.
01:1085% as we speak today.
01:12But north of 80% of our trade is tariff-free with the United States.
01:15And we're engaged in discussions with them.
01:19Now, we're engaged with discussions, working to have a more permanent or more stable is a better way to put
01:26it.
01:26Nothing's permanent.
01:27But a more stable relationship, trading relationship with the U.S.
01:31that addresses issues in some of our largest industries and that recognizes the new U.S. approach to trade.
01:42So we're starting from a strong position.
01:45And I'm going to go back to one other thing, and I'll head back, which I said at my prepared
01:50remarks.
01:51And we're stronger than we were when this started.
01:57We're growing jobs twice the rate of the U.S.
02:00Our FDI is twice the rate of our nearest competitor.
02:04That's the United States.
02:05It's twice the rate of the U.S.
02:06We're the best country in the world judged for infrastructure investment.
02:10We're focused on the right things.
02:12Affordable housing, community, becoming an energy superpower, diversifying.
02:17Everybody wants to do more with Canada, except the United States.
02:21Everyone wants to do more with Canada.
02:22So we're engaged in all these trade negotiations, and we're delivering them,
02:27and we're on track to have free trade access to 3 billion consumers.
02:31That's what we've got.
02:33Follow-up?
02:35On the streaming decision, how should Canadians interpret that decision
02:38when Minister Le Bonk and Canadian officials are at an event yesterday co-sponsored?
02:42We made that decision two months ago.
02:45We made that decision with a focus on affordability, right out of the gate.
02:51It's not the time – you know, Canadians are under – sorry, I should let you finish your question.
02:58You'll finish your question.
02:59But Canadians have been under great pressure since COVID from overall inflation.
03:08The price of groceries, housing costs, the price most recently because of the war in Iran, the price of energy.
03:16And we have taken, as other governments have, but we have taken a series of decisions.
03:21The first thing we did was to cut the consumer carbon tax.
03:24First thing we did after the election was to cut income taxes for 22 million Canadians.
03:29We cut GST for first-time homebuyers up to a million.
03:34We implemented pro-competitive decisions in broadband.
03:38People didn't notice it, but last summer we made a pro-competitive decision in broadband.
03:43We went along with the CRTC in that case because it improved competition
03:47and has helped reinforce the fall in broadband prices.
03:51But when we see costs increase because of a decision from the federal family, broadly speaking,
03:59arm's-length regulator, but from the federal family,
04:01for something that, you know, most Canadians have one or two or so of these streamers.
04:06And it's real money.
04:08This stuff adds up.
04:09And there's a better way to do it.
04:11We took the judgment there was a better way to do it, made the investment in culture,
04:15and we'll give the direction accordingly.
04:18It's that focus on affordability.
04:20I'm sorry.
04:20Can you say what we're getting in return from the U.S. right now in terms of the trade negotiations?
04:24We have these lists of things that are happening right now.
04:26The best trade deal in the world right now.
04:28Next question.
04:29Question, Kassian.
04:31Yeah, hi.
04:31Jordan Canagan with CTV News.
04:33Thank you for taking my questions.
04:34The first question is for both the Prime Minister and for the Premier.
04:36As we move towards the referendum in October,
04:39some of the separation angst, if you will,
04:41is driven by concerns over equalization payments
04:44and the feeling and the belief that Albertans are being taken advantage of.
04:47Certainly there's some disinformation when it comes to equalization,
04:50but do you think that the program should be reviewed before its renewal in just a few years?
04:56Well, thanks for giving me the opportunity to lobby the Prime Minister on this.
04:59I've lobbied my fellow premiers at the table,
05:02and you can imagine that those who are benefiting from equalization
05:05want to keep the program as it is.
05:07But it's not fair because the growth in the program grows with the size of the economy,
05:13which is kind of counterintuitive because if the economy is growing
05:16and everybody is doing better, they should be less reliant on the equalization program.
05:20In fact, we've calculated there's overcompensation to the have-not provinces
05:24of $7 billion over the last five years.
05:27So my pitch to my fellow premiers and now my pitch to the Prime Minister
05:30is let's just get rid of that escalator.
05:33Let's equalize to the point of need,
05:36and then let's take the excess that's in that fund
05:39and distribute it back to the provinces on an equal per capita basis
05:42that will help us with our funding pressures.
05:44And I think it will be a demonstration that just because there's extra money,
05:48you don't just cut a check to Ontario, who clearly doesn't need it.
05:51They're a powerful economy.
05:52They shouldn't be getting equalization from smaller provinces.
05:55So that's been my consistent position.
05:58We think ultimately we should change the equalization program
06:02so that we look at per capita spending as well.
06:05We shouldn't be over-equalizing provinces so they can pay for more generous social programs
06:10than we're able to afford here ourselves.
06:11I haven't made much headway yet with my fellow premiers
06:14who are the recipient provinces,
06:16but I can tell you that the ones who are kind of the net contributors
06:20feel as well that we've got to get a bit more fairness into the program.
06:23So I don't know if the Prime Minister wants to respond to that,
06:26but thanks for the opportunity to put our position on the table.
06:30There you go.
06:32Well, he did say it was for both of us.
06:35And he just, you know, sort of nice little softball
06:39straight across the plate there, telegraphed.
06:41No.
06:41Look, these are hugely important issues, all seriousness,
06:45whether it's equalization, whether it's health funding,
06:47other federal programs.
06:51And one of the things that underpins the country is a sense of fairness,
06:59and then you move into the interpretation of that fairness and how it's applied.
07:04And at the heart of fairness, and this is true within a province,
07:10it's true across the country,
07:12is that Canadians have accessed reasonably comparable services, right?
07:19Whether it's health, education, reasonably comparable.
07:21It doesn't mean it's exactly the same, but it's reasonably comparable.
07:23And they have reasonably comparable resources in order to do that.
07:28Now, the second part of that equation,
07:34the reasonably comparable resources,
07:36the calculation of that and how that changes over time.
07:40Some provinces do better, others do, you know, things.
07:42There are shocks.
07:43The trade stuff can be an element of that if it's more persistent.
07:48And that's why the program is reviewed on a regular basis.
07:52It's not reviewed every year.
07:54And that's a cooperative and engaged process,
07:58and we have a review of that coming up.
08:01And, of course, we'll be looking hard at that.
08:04The other element, of course, is delivering services right here and now
08:09and making sure that we are, again, in that spirit of cooperative federalism,
08:14that we're delivering, when I say we, the federal government,
08:17is delivering, recognizing the differences in the capacities,
08:23the needs, the capabilities of the various provinces,
08:26and that's what you're seeing today.
08:28Yes, and for the Prime Minister, again,
08:30we're three weeks away until new President Trump's tariffs coming into effect.
08:34Are you willing to use Canadian energy as a bargaining chip
08:37in trade negotiations with the United States, yes or no?
08:40Well, we are, yeah, we're three weeks away from the August deadline.
08:47My colleagues, Janice Sherratt, who's our chief trade negotiator,
08:52and Minister LeBlanc, the relevant minister, are both in Washington now,
08:58so they're engaging with their counterparts.
09:00Look, we will, first and foremost, we're engaged in those negotiations to look to find a mutually beneficial solution,
09:08and we're only going to accept a solution that works for Canadians.
09:12We have lots of options of what we would do if that's not there,
09:17both positive in terms of supporting the economy and also addressing other issues,
09:22but I'm not going to be drawn on what we're going to do.
09:24We're going to focus now on building towards an agreement, if an agreement is possible.
09:33We'll have time for one last question.
09:34Daniel Kestim, go ahead.
09:36Hi, thank you for taking my question.
09:37Will Vassar with the Western Standard.
09:39This one's for the prime minister, and it kind of builds upon the last part of the previous question,
09:43but in Alberta, specifically talking about Alberta oil,
09:48to what degree does the risk of really inflaming the independence sentiment here
09:53weigh into that decision of whether or not to put Alberta oil on paper?
09:57I think one of the things, let me answer this.
09:59Thank you for following up with it.
10:03I wanted to give a broader answer to the way we're looking at the trade negotiations,
10:07but you're coming back to this core thing.
10:09It's important.
10:12Being a reliable supplier is important.
10:15Canadians are reliable.
10:16Canadians can be trusted.
10:17One of the things that you see in the world,
10:19we have many exports and commodities.
10:23One of the biggest commodities, arguably the best, is trust.
10:25People trust us.
10:26And so when you're supplier of a key commodity, key service,
10:31you've got to think really hard about not supplying.
10:35So that very much colours it.
10:37So, look, we have, this is an incredibly diverse country economy.
10:42We have many things we can do.
10:45First and foremost is to work towards an agreement.
10:47That's what we're going to do.
10:48But there's other things we can do if we needed to address the situation that was there.
10:53And the issue you're raising that was raised previously, it's not, it, I don't see the value of, I mean,
11:02I can understand conceptually, but I don't see the value of it.
11:05So it doesn't enter in, my guess, to put a fine point on the way you asked the question,
11:09the referendum, the calculator, that doesn't enter into the calculus.
11:14It's a bigger, it's a bigger issue, more fundamental issue.
11:17Last follow-up.
11:18Go ahead.
11:20The independence question takes up a lot of the air with the referendum, but other questions on it address immigration.
11:26And the premiers talked about wanting to seek more provincial control over immigration.
11:30And so my question would be, what's your willingness to work with Alberta on that, if Albertans vote, they want
11:36to seek more provincial control?
11:37I think, I'd say a couple of things.
11:40First, we had a discussion of this just a few days ago amongst first ministers.
11:44I thought it was quite a productive discussion because it was a well-informed, well-grounded stock take of where
11:51we are and a commitment to,
11:53and this, obviously, premier has her perspectives and views and represented them well,
11:59but all of the premiers, including territorial premiers, raised issues around this.
12:04And let me put immigration in context and I'll finish and give madame a very quick, I'll just, I'll finish
12:12this though.
12:12So, we have taken back control of immigration.
12:15The government's been in place for 16 months.
12:17We came in where immigration had been far too high.
12:20We'd lost control, you know, of levels and foreign students and temporary workers.
12:27The level of asylum seekers is down a third, or the flow.
12:31The temporary foreign workers down by a half.
12:34Foreign students down by two-thirds.
12:35So, we've taken control, we're on top of the numbers.
12:38Now, it creates the opportunity, and as first ministers, premiers, prime minister, governments,
12:46we need to discuss where we go from here.
12:50Do we still need to, because the overall levels still are putting pressure on housing others.
12:54So, do we still need a few more years of restraint?
12:57There's a good argument for that, but we need to discuss that.
13:01And then, at the same time, to talk about, as economic migrants come in, as the term is used,
13:10well, what skills should they have?
13:12And do the provinces have a better perspective on what those skills would be?
13:16And how do we engineer a system for that?
13:18That was the spirit of the discussion.
13:19And we're very open to that discussion.
13:22That doesn't require any tick on any box in a vote, because that's working, again, to get things right.
13:31And I think this is going to be, the good news is, because we've taken back control on immigration,
13:39it creates the possibility to have that discussion.
13:41If the whole thing were, we still were having overshoots by half a million, a million people,
13:47relative to what we expected at any given time, we wouldn't have, we didn't have the space for that discussion.
13:53Now we've created the space, as we should, and that's what Canadians deserve.
13:56If it's a quick question, I think we can take off.
13:58Thank you so much.
14:00Alexa Poza with Juno News.
14:01For the prime minister, are you prepared to deport the students of Portage College,
14:05who are hunger-striking to stay in Canada, despite having no permit to remain?
14:10And to Premier Smith, are you prepared to start certifying Diploma Mills in Alberta?
14:15I'm not familiar with a specific case, I'm afraid.
14:18And I would, but so, and we have processes to make those decisions, and they need to be followed.
14:27And if people are not here, you know, if they don't have authorization to stay,
14:31and they don't have right to claim asylum, then there's a process that would be followed.
14:36But I'm not familiar with the details of the question.
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