PJ The Belt - October 26, 2026


THIS JUST CAME OUT! About Trump's Canada Deal

THIS WON'T END WELL FOR CANADA..

Episode Stats


Length

9 minutes

Words per minute

183.73

Word count

1,772

Sentence count

114


Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 He had a deal because he talked to Mark Carney.
00:00:02.720 Canadians approached us and said, come on, let's try to get an interim deal done.
00:00:07.140 And I said to him, are you trying to blow this up?
00:00:11.160 And the answer was...
00:00:13.240 A major development is happening between Donald Trump and Mark Carney right now.
00:00:17.940 And there's a part of this story that I think a lot of people are missing.
00:00:21.500 Because while everybody's been focused on the arguments, the back and forth, the tariffs,
00:00:26.780 something else completely has been happening behind the scenes.
00:00:30.000 And we're talking about something that could affect your job, your business and your wallet, whether you live in Canada or in the United States.
00:00:38.400 Now, here's what I find really interesting.
00:00:41.160 You remember that trade deal Mark Carney rejected a few weeks back?
00:00:45.280 Remember how he came out on national television and said that the Americans were asking for too much, that he wasn't going to accept a bad deal for Canadians?
00:00:54.280 OK, what was actually offered?
00:00:57.120 because we still haven't seen the complete proposal.
00:01:01.020 And that's a pretty important detail
00:01:02.820 when you're talking about billions of dollars
00:01:04.980 and the livelihoods of millions of people.
00:01:07.500 Here's where things get even more confusing.
00:01:10.100 According to new reports,
00:01:11.700 the United States and Canada are now talking
00:01:13.760 about a new deal coming to fruition very soon.
00:01:16.860 It's for the relief of tariffs on steel, aluminum, and cars.
00:01:22.060 Something could be worked out before the midterms.
00:01:25.520 Before the midterms.
00:01:26.560 But I want you to think about that for a second. And let's go all the way back. We were told by
00:01:32.100 Mark Carney that the deal was completely unacceptable. He said that the negotiations
00:01:36.120 have fallen apart, that there were irreconcilable differences. So what I want to understand is
00:01:42.140 what changed so quickly? Did Trump change his demands? Did Carney change his mind? And why?
00:01:49.240 Are they talking about a completely different deal now? These are some pretty big questions.
00:01:52.960 What happened was we negotiated that Canadians approached us and said, come on, let's get it, try to get an interim deal done.
00:01:59.860 So we work, you know, before we start doing the big U.S. MCA sort of big, big thing.
00:02:05.260 And we sat with them six weeks of negotiations and we hammered out a deal.
00:02:11.020 Mark Carney starts talking to the president, calls him multiple times.
00:02:14.540 I'm in the room with the president and they reach agreement.
00:02:17.600 And the president like truths out. We have a deal.
00:02:19.700 He had a deal because he talked to Mark Carney. Right.
00:02:22.760 and then we were just putting the finer points on it and friday at four o'clock for example
00:02:28.920 that my canadian counterparts they called me and said we'd like heavy trucks yeah and i said no
00:02:33.880 no listen listen it's friday at four o'clock we're signing it at like six or seven there's no new
00:02:39.800 topic that you're coming up with now and i said to him are you trying to blow this up
00:02:44.920 And the answer was, and I quote, I'm not allowed to say that.
00:02:50.760 They decided for political reasons, domestically, domestic Canada, they'd rather fight with Donald Trump, even if it's bad for the economy of Canada, for their political ambition.
00:03:02.140 This is the Canadian Liberal Party using their economy to get themselves elected, even if they're selling their own citizens down the river.
00:03:11.040 It's sad and disappointing.
00:03:13.260 Look, if there's a new deal coming, I think both sides of the border have every right to ask what happened to the last one.
00:03:21.280 And to be fair, the Trump administration has been more forthcoming with information on what happened,
00:03:27.120 as opposed to Carney, who's been very secretive about what was actually offered.
00:03:31.520 They've even said that Carney used the rejection of that deal for political purposes,
00:03:36.820 that it was the best deal offered to any country that trades with the United States,
00:03:40.640 and that Carney wanted the political capital coming from it,
00:03:44.180 using it to increase his political support
00:03:46.280 among those who hate Donald Trump no matter what he does.
00:03:49.320 Why does it feel like today Mark Carney is going to war?
00:03:53.200 Trade war.
00:03:55.260 The tone.
00:03:56.500 Because we were attacked.
00:03:58.860 Like, you're at war when you get attacked.
00:04:01.260 We got attacked.
00:04:02.200 The US put 50%.
00:04:03.800 We waited until the United States decided to actually implement
00:04:06.800 the so-called 338 tariffs.
00:04:09.060 uh that's fine we've got the reserves we got the resilience we've got the plan we've got the focus
00:04:15.900 we will respond we're going to focus on what we can control we're going to build look and this
00:04:19.420 is something i've talked about on this channel multiple times i've been very critical of carney
00:04:24.660 using the whole situation with donald trump and trump derangement syndrome to benefit politically
00:04:29.700 with canadians who don't like donald trump and that's my interpretation of what happened here
00:04:34.820 But I also want to see the terms. I want to see what was offered, what was rejected, and whether something could have been worked out sooner to avoid all the jobs that have been lost. You got politicians going back and forth, but there's people working in those factories, running those businesses, small business owners and ordinary families who are paying the bills and have to live with the consequences of whatever happens between these two politicians.
00:05:00.480 Midterms, they don't change our trade policy.
00:05:02.840 We're using executive authorities.
00:05:04.660 And the president has had the same trade policy for about 40 years.
00:05:07.700 So it's not going to change regardless of what happens in the midterms.
00:05:10.140 President Trump's administration will be in office for two more years.
00:05:13.540 And a great deal of the authority that he's using to apply these tariffs, of course, is executive authority, which won't be changed by the midterms.
00:05:22.840 This hope that people have about the midterms changing something, are we watching the same guy?
00:05:28.220 Right.
00:05:28.520 Does Donald Trump look like something? And on top of that, last week, Congress just gave him additional unilateral authority to impose tariffs.
00:05:37.640 But they still need to be able to get the votes to pass legislation through the House, through the Senate, which is not easy in the Senate where you have a 60 vote threshold.
00:05:46.700 And of course, you need the president to sign something in the law.
00:05:49.380 And I don't expect President Trump to be signing legislation that's going to block him from doing what he wants to do.
00:05:54.500 What the Democrats are going to do if they do end up with some sort of victory
00:05:58.520 in the midterms. I don't think they'll be all that concerned with resting back the control
00:06:02.960 over tariffs like they're supposed to have. So that is going to leave him with pretty unfettered
00:06:08.640 access to, as Jordan brought up, the executive actions that he's been so fond of.
00:06:13.060 That's why I always wonder whether or not the plan of waiting for the US midterms
00:06:17.500 was a sound one. I really don't think a lot is going to change as a result of the midterms.
00:06:22.140 And this is where I have a real problem with the liberals, because I think they've become so comfortable using Donald Trump as the explanation for just about everything that's wrong with Canada.
00:06:32.300 Housing is expensive. Blame Trump. Businesses are struggling. Blame Trump.
00:06:36.340 Canadians can't afford groceries. Somehow that's Donald Trump's fault, too.
00:06:39.840 They've been running the country since 2015, 11 years now.
00:06:43.720 And Canada's had major economic issues ever since.
00:06:47.240 And now, with everything that's going on in this country, the Bank of Canada is about to make another interest rate announcement.
00:06:53.480 And there's been discussion about the possibility of higher rates.
00:06:57.400 And I want you to think about that.
00:06:58.960 You've got Canadians already struggling with their mortgages, their credit cards, the price of groceries, the cost of running a business.
00:07:05.840 If their rates go up, borrowing gets more expensive.
00:07:08.960 What's most concerning is that unless we do, unless we change some other things, our standard of living as a country, Canadians, is going to be lower than it otherwise would have been.
00:07:19.300 And unfortunately, what that means is that unless something else changes, our incomes will be lower than they otherwise would have been.
00:07:27.680 They're going to, you know, they'll grow, but they'll grow along a lower, you know, this was the old path.
00:07:33.040 Now there's a new path, which is below the old path.
00:07:37.180 And that brings me back to Mark Carney, because remember how this guy was supposed to come in and fix everything?
00:07:43.500 The economic genius from Davos, the international banker, the man with all the answers, right?
00:07:49.360 Well, where's the solutions? Because I look around and I still see people struggling.
00:07:54.080 Businesses worried about their future, thousands of jobs being lost every month, and things are only getting worse.
00:08:00.180 And look, I don't think Carney is some clueless guy who has no idea what's happening.
00:08:03.920 I think he understands everything that's going on here. I don't think any of it is a coincidence.
00:08:09.600 I don't think he cares about ordinary Canadians. He doesn't give a damn.
00:08:13.480 When I look at his history with Brookfield, his connections to the Trudeau government and his
00:08:17.700 approach to economic policy, I have a lot of questions about who benefits the most from what
00:08:24.040 he's doing in government. Because Canada has everything it needs to be successful. There's
00:08:28.620 oil here, natural gas, minerals. There's some hardworking people. And yet the country is going
00:08:35.500 down the toilet. And then we have the possibility of a trade deal with the United States, our most
00:08:40.040 important trading partner by far, being stifled, being hindered and sabotaged for political gain.
00:08:46.580 So think about the amount of suffering that has occurred as a result of Mark Carney trying to
00:08:53.080 score political points by fighting the americans fighting donald trump imagine the the number of
00:09:00.320 jobs that could have been saved the number of businesses that would have stayed open
00:09:04.020 it's crazy when you think about it that a politician who was elected by the people to
00:09:10.460 protect their jobs to represent them to do what's best for the country is only looking after himself
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