Mark Carney announces the removal of all of the retaliatory tariffs that were imposed on the United States as a response to Donald Trump's initial tariffs on Canadian exports to the U.S. on fentanyl and illegal immigration into the country.
00:00:00.000Hey everybody, PJ here. Figured out comment about the latest announcement from the government of Canada. Mark Carney recently came out saying that they're going to be removing all of the retaliatory tariffs that were imposed in the United States as a response of some sort to Donald Trump's initial tariffs that he put on the trafficking of fentanyl and the illegal immigration that is pouring from Canada.
00:00:30.000Into the United States. And those were the previous reasons that Donald Trump had given the Canadian government, but the Canadian government decided to put their elbows way up and retaliate, pretty much being one of the few countries in the whole world that actually retaliated.
00:00:46.640I believe it was pretty much Canada and China, the two significant countries that decided to actually impose tariffs of their own against the United States, which is obviously an irony because Canada is incredibly dependent economically speaking.
00:01:06.700I would dare say defense-wise too, militarily speaking, but when it comes to this particular topic, economically speaking, Canada is incredibly more dependent on the United States than vice versa.
00:01:18.940Of course, absolutely, the United States definitely does a good chunk of trade with Canada, but Canada does the overwhelming majority of its trade with the United States just south of the border.
00:01:32.700Each and every province of this country, including provinces like Alberta, my home province with all the oil and all the gas, north of 80% of our trade is with our friends south of the border.
00:01:46.100So let's take a look at what Carney actually had to say.
00:01:49.140Your critics are going to say that this is an elbows-down approach, that you're backing down to Trump.
00:01:54.620What are you gaining by dropping these tariffs?
00:01:57.560So the first thing to say is, let's be clear.
00:02:02.620We have the best deal of anyone in the world right now.
00:02:06.820We have the lowest tariff rate on average, a little over 5.5% versus that 16% average for the world, and in many cases, much higher.
00:02:16.460We have that confirmed in the executive order of the president a few weeks ago.
00:02:28.700The strategic sectors, steel, aluminum, autos, lumber, and we focus on the upcoming review and changes, likely changes to Kuzma.
00:02:38.800So we are matching something the Americans have done here first, and it's very significant, it's unique, we get the benefit.
00:02:50.060The second thing is, you know, and I'll take your analogy, and I have played some hockey over the years, and there is a time in a game, in a big game, and this is a big game, when you go hard in the corners, the elbows up, the time in a game, we drop the gloves in the first period and just send a message.
00:03:15.120And we've done that pretty uniquely in the world.
00:03:22.780We happen to have the best deal with the Americans right now.
00:03:38.660So there you have Carney looking defeated as hell, just talking about, you know, it's the smart thing, trying to look in control when he clearly is just showing unconditional surrender, like Trump said that he eventually would.
00:03:54.580Because, I mean, at the end of the day, the United States is literally the biggest economy in the world.
00:04:00.060Love him or hate him, everybody wants a piece of the American economy, especially when you're a country like Canada, where a majority of your exports are sent to the United States, and a big, big, significant amount of your imports come from south of the border.
00:04:15.700There are only so many elbows that you have to be, you know, keeping up or whatever the whole thing is with those leftist retards.
00:04:23.560So you can see he's looking all defeated, and he's always making these hockey analogies to try to stay Captain Canada and, you know, rallying the troops and whatnot.
00:04:43.540Our dollar continues to decline, and our industries are all suffering from having this trade war going on between the United States and Canada.
00:04:54.620And our retaliatory tariffs are not really hurting America because it's such a small piece of the pie for them that it really is just hurting us up here in Canada.
00:05:04.400And the irony of this whole thing is the fact that the United States hasn't even fully gone off on Canada.
00:05:10.980They've actually been taking it easy on Canada.
00:05:14.840Like, if America actually wanted to ruin Canada economically, they would have.
00:05:19.400There's a recent interview that the ambassador of the United States to Canada had where he explained that the United States has actually exempted all the NAFTA or USMCA-compliant goods.
00:05:33.400But Canada hasn't returned the favor, and Canada has actually been tariffing things that are USMCA or KUSMA-compliant, which is really a low blow to a country that's literally going easy on you.
00:05:49.360I think some of the retaliatory tariffs to the U.S. are a huge irritant.
00:05:57.360But we have protected the integrity of KUSMA, okay?
00:06:03.540Our negotiators have said, we are not going to implement tariffs on any products that are covered under KUSMA.
00:06:13.020Canadians have said, those guardrails are off.
00:06:17.540I think since April, they have been tariffing U.S. products that are part of the KUSMA agreement, okay?
00:06:26.960The products that are covered under KUSMA are going into the U.S. tariff-free, and the ones going north are covered or now have this, I think, 25% tariff on them, okay?
00:06:43.020And so what it means is I know from American companies, they're saying, hey, we're basically going into Canada, and we can't sell because we've got a 25% tariff,
00:06:54.920while our Canadian competitors are coming into the U.S. with no tariffs at all.
00:07:00.480You put that together with the actions of your provinces, where they're saying, in certain cases, they're saying, all right, we're going to first buy product from our province.
00:07:15.300If the product from our province is not available, we are going to buy Canadian.
00:07:20.760If there's not a Canadian product available, we're going to buy international.
00:07:25.260And if there's not an international product available, then we may finally consider buying American or maybe not buying at all.
00:07:36.320The United States has actually been going easy on Canada, and Canada, as always, has been basically backstabbing the United States.
00:07:44.360I don't think the elbows-up types, the leftist lunatics, just understand just how easy it would be for the United States to actually ruin the Canadian economy.
00:07:56.300Like, their economy is 10 times bigger, and we depend on them so much more than they depend on us.