PJ The Belt - October 21, 2026


Canada WASN'T READY for what Trump just did..

Mentioned
Donald Trump Mark Carney Doug Ford Melanie Jolie Jameson Greer Howard Lutnick Howard Lundq LeBlanc Besant
ALBERTA REFERENDUM SHATTERS RECORDS!!

Episode Stats


Length

7 minutes

Words per minute

175.6

Word count

1,404

Sentence count

98

Harmful content

Toxicity

4

sentences flagged


Transcript

Transcript generated with Whisper (turbo).
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.000 President Trump now announcing the United States is terminating all trade discussions with Canada, effective immediately.
00:00:07.420 Who's the worst to deal with on trade?
00:00:10.060 And I said, that's easy. Canada.
00:00:12.860 You know, unfortunately, I think we're finally at the point where Trump is starting to look at Canada and say,
00:00:17.900 you know what, maybe it's time we just move on.
00:00:20.100 Because listen to what the president is saying about Canada now.
00:00:24.320 Not Iran, not Russia, not even China.
00:00:27.680 Canada, the country that sends the vast majority of its exports into the United States,
00:00:32.600 being described by the President of the United States as one of the most difficult countries in the entire world to deal with.
00:00:39.040 And he definitely doesn't mean that as a compliment.
00:00:41.480 Well, they haven't treated us well.
00:00:43.320 The Canadian officials have treated us very badly. 0.99
00:00:45.800 They're nasty people. 0.97
00:00:47.500 They charge our farmers 400% tariffs. 0.87
00:00:50.820 They've been doing it for a long time.
00:00:52.140 And I had them figured out in my first term, and I did some pretty strong things.
00:00:56.600 and had it getting pretty good, and then the election was rigged,
00:01:00.580 and now I'm coming back and doing it the way and finishing the job.
00:01:04.800 But they treat us very badly.
00:01:06.200 Canada treats us very badly.
00:01:07.480 I would say that of all countries, they are the worst.
00:01:10.200 And they feel entitled, and just we can't have that.
00:01:13.280 Think about how insane that situation is,
00:01:15.720 because the economic reality for Canada is that it needs the American market
00:01:19.940 far more than America needs the Canadian market.
00:01:23.340 Yet, according to Trump, Canadian politicians walk into the negotiating room
00:01:27.240 acting like Washington owes them something.
00:01:29.560 A few minutes before the press conference, the U.S. Embassy sent out a fact sheet
00:01:33.100 that outlined a number of actions and comments that Canadian politicians made.
00:01:37.220 Premier Ford, you were involved in, Mr. Melanie Julie.
00:01:39.320 There were a number of comments from both of you.
00:01:41.460 But to the Prime Minister and the Premier,
00:01:43.000 was the intention of your previous actions by either of your governments or your comments
00:01:46.580 an attempt to try and influence American voters?
00:01:49.760 No, look, the United States initiated these trade actions, a series of trade actions.
00:01:55.980 We have responded to those to protect Canadian jobs, protect Canadian companies, and to develop our economy.
00:02:06.200 And let's be absolutely clear what has been the consequence of that.
00:02:09.340 The consequence of that is we're growing jobs at twice the rate of the United States.
00:02:12.880 We're growing faster in the United States.
00:02:14.720 We're getting foreign direct investment at twice the rate of the United States.
00:02:17.440 Yes, we have big structural challenges, some in the steel industry, some in the auto sector,
00:02:23.780 and we're addressing those together as partners.
00:02:26.740 It's going to take some time to have that full response.
00:02:29.860 But all of our actions are in the interests of Canadian workers, Canadian families, and the future of this economy.
00:02:39.080 I have no interest at all interfering in American elections.
00:02:43.360 So if I'm hearing you're saying you're going to run a tech ad basically against what he's doing in the States.
00:02:46.760 Well, I wouldn't call them attack ads. I'm going to call them information ads.
00:02:49.920 Okay.
00:02:50.440 And they're going to inform the great people of the United States, you know, how it could be and having two great nations and how it might be if these tariffs continue to go through.
00:03:02.220 As far as I'm concerned, it's unacceptable.
00:03:04.960 I'm a strong believer. I spent 20 years of my life down in the U.S. I love the American people.
00:03:10.920 I'll tell you what the American people want. They want certainty. They want stability.
00:03:15.060 And we're going to focus on what we can do here in Ontario.
00:03:19.600 Now, in Canada, they rely on this country, the United States, your country, for revenue, for military protection, for oil refineries, for technology, medical, pharmaceutical advancements.
00:03:32.460 And how are we repaid for our friendship and for our kindness?
00:03:37.040 Now, for years before Donald Trump, you know, was president, the only things we ever got
00:03:43.280 were massive tariffs.
00:03:45.800 And now we're getting hit with a lot of threats and a lot of anger and a lot of disdain.
00:03:50.900 Any moment President Trump attempts to negotiate a free, fair, reciprocal trade deal, well,
00:03:58.180 this is what happened.
00:03:59.180 Take a look.
00:04:00.180 Doug Ford also told the Associated Press that if this fight gets worse, the way he put it
00:04:05.280 is everything is on the table, including cutting off electricity from Ontario going into the
00:04:11.240 United States. Do you support that move? Well, whatever it takes, whatever it takes.
00:04:19.960 This is why I think people are missing the bigger picture here. This isn't just another
00:04:23.980 round of tariffs. The Americans are sounding like they're getting tired of the entire relationship
00:04:28.820 altogether. In the case of Canada, I have spoken with Secretary Besant, with our great trade
00:04:35.020 rep, Jameson Greer. The deal was basically done, except that then Prime Minister Carney
00:04:42.000 started to realize this was bad politics for him. He has run on being the tough guy against Trump.
00:04:50.860 Elements of the deal, which was a fair deal on all sides, started to leak out. And suddenly,
00:04:57.220 he sends in some of his political team on top of the negotiating team and pulls out and starts
00:05:06.600 spinning. One of the pieces of the spin, to your point on China, was that we were demanding that
00:05:12.380 Canada not enter into other types of trade agreements. That's absolutely not true. What we
00:05:18.560 said, what the team said was, look, if we're going to give you very favorable tariff status,
00:05:23.760 We're going to give you the best deal of any other country that we trade with in the world.
00:05:28.680 You can't then let China take advantage of what they call transshipment and start dumping their goods into Canada just to dump their goods in the United States.
00:05:37.340 And we're right back where we've been for many, many administrations.
00:05:40.580 So you've got to raise, you candidate, your tariffs on China, like, importantly, like Mexico has done.
00:05:47.900 And I have to tell you what, in contrast to Prime Minister Carney,
00:05:52.940 Scheinbaum down in Mexico has worked well with us,
00:05:55.780 has established a good relationship with the president,
00:05:58.200 is working with us, not just on cartels and national security,
00:06:02.520 but also on these trade issues.
00:06:04.480 At the end of the day, President Trump's going to put the American worker first.
00:06:07.560 Well, here's where this story gets really interesting.
00:06:09.700 Howard Lutner just gave his version of what actually happened behind closed doors.
00:06:14.160 And if this account is accurate,
00:06:15.460 This wasn't simply two countries that couldn't agree on the numbers.
00:06:19.380 Lutnick is saying that Canada had been offered an extraordinarily good deal.
00:06:23.800 He says that the two sides had actually agreed to the terms previously.
00:06:27.600 And then suddenly the whole thing started falling apart.
00:06:30.980 All right. I met with their trade minister LeBlanc at least 10 times in the last month.
00:06:38.980 I spoke, I spoke to Mark Carney twice in the 24 hours before this ended.
00:06:47.420 Twice.
00:06:47.960 I have texts back and forth with Mark Carney.
00:06:50.440 I have a longstanding relationship with him from when he worked at Goldman Sachs way back when,
00:06:54.660 let alone when he was at the Bank of England.
00:06:56.260 So I've known him a long time.
00:06:57.460 So it's easy for me to communicate with him, right?
00:07:00.860 We, Canada has the best trade deal in the world before we started.
00:07:04.880 we negotiated and can't canada was going to have the best trade deal in the world and what happened
00:07:11.480 was that canada walked away we had a deal we shook hands the president announced it right
00:07:16.940 everybody was positive canada made the decision for political purposes it was nonsense and this
00:07:23.220 is important lutnik is a legend of politics not economics politics explains what happened
00:07:29.300 but carney actually benefits politically from having donald trump as the bad guy so you're
00:07:34.620 basically have Ottawa saying, forget your problems with us. Forget the problems in Canada. Look at
00:07:38.540 those terrible Americans and that terrible president. And that's why Howard Lundq's account 0.87
00:07:43.320 matters here. Because if the Americans believe that Canada, the government of Canada is using
00:07:48.680 trade negotiations as domestic political theater, why would Trump keep playing the same game over
00:07:54.700 and over again? If you support these videos, remember to like and subscribe, and I'll see
00:07:58.580 you in the next one. Peace.