PJ The Belt - July 01, 2026


Trump is DONE with Canada — NO DEAL..

Topics
no deal negotiations
Mentioned
Donald Trump Dominic LeBlanc Steve Verhul Mark Carney Carolyn
Canada's DISARMING its Citizens in 2026!! Trump Just Offered Alberta a DEAL!! as Canada FAILS to deliver

Episode Stats


Length

7 minutes

Words per minute

177.75

Word count

1,409

Sentence count

74


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

The clock is ticking down to July 1st, the deadline for countries to decide if they want to renew the Canada-U.S. free trade deal. Canada, Mexico and the United States have until 5 PM ET tomorrow to come up with a deal.

Transcript

Transcript generated with Whisper (turbo).
Topics generated with Qwen2.5-3B-Instruct.
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00 The U.S. president has also said he doesn't like the fact that Canada seems to be getting closer
00:00:04 to China, making new trade deals with China and more trade agreements. And obviously this is
00:00:10 something as well that Donald Trump has made no secret of the fact he doesn't like.
00:00:14 No, I'm not. Look, we've been ripped off for years and we're not going to be ripped off
00:00:17 anymore. No, I'm not going to bend it all, aluminum or steel or cars. We've been ripped
00:00:23 off as a country for many, many years. We've been subjected to costs that we shouldn't be
00:00:29 subjected to. In the case of Canada we're spending 200 billion a year to subsidize Canada. But I
00:00:34 think if you ask a lot of industries they're feeling really insecure right now and saying
00:00:40 that the stability that this KUSMA agreement has provided is no longer there and that it's
00:00:46 difficult for them to plan in the years ahead not knowing whether or not there are going to
00:00:50 be tariffs in place or even an agreement in place. Well tomorrow the clock runs out and the Canadian
00:00:57 government pretends everything is fine but the trump administration has been very clear they
00:01:02 would rather walk away entirely and canada's industry minister just heard from the media
00:01:07 about this reality and she had nothing to offer but a worse salad so here's the truth canada spent
00:01:13 years causing up to china ignoring the writing on the wall and now as the deadline hits they shrug
00:01:20 while the economy is falling apart and industries suffer the consequences hi mr jeff with uh jeff
00:01:26 team with Global National. Your reaction to
00:01:28 Reuters reporting that
00:01:30 the U.S. is going to be pulling out of
00:01:32 Kuzma and what would this
00:01:34 mean for Canadian industry?
00:01:36 Well, I just learned
00:01:38 the news here
00:01:40 30 seconds ago.
00:01:42 Of course, I'll
00:01:44 have the chance to talk with the Prime Minister
00:01:46 and the
00:01:48 Minister in charge of U.S. Canada Trade
00:01:50 and when we'll have
00:01:52 more to say, we'll have more to say.
00:01:54 These are information
00:01:56 through a media source and of course we'll be waiting for any official conversation coming out
00:02:06 from the White House. So we've heard from a lot of different partners about what we should be
00:02:11 expecting with the Kuzma deadline tomorrow. I'm curious what you're expecting. Well as you know
00:02:17 there's a virtual meeting with the three partners tomorrow. We're expecting you know a constructive
00:02:23 exchange. I wouldn't expect any drama tomorrow. There is no, we're not, I'm not looking for my
00:02:31 pen. Imagine a man whose portfolio is invested 92% in a country he pretends to hate. And then
00:02:39 he wins an election and attacking that very same country, doing everything in his power to keep
00:02:45 the country he was actually elected to run in a state of managed decline as he lines his pockets.
00:02:51 His popularity stays high as he and the media manipulate the population into hating their neighbor
00:02:57 and blaming 11 years of failure and decay on their liberal rule on a foreign president.
00:03:03 If you guessed Canada's Mark Carney, congratulations.
00:03:07 You're one of the few not affected by the anti-American delusion that has taken over Canada.
00:03:13 Carolyn, he said don't expect any drama.
00:03:16 Mexico and Canada have already signaled they want a full 16-year extension of the deal,
00:03:22 while the American president has been unpredictable.
00:03:26 The Prime Minister downplaying expectations for July 1st,
00:03:30 the deadline for countries to decide if they want to renew the Canada-U.S.-Mexico free trade deal.
00:03:36 We're expecting a constructive exchange.
00:03:39 I wouldn't expect any drama tomorrow.
00:03:42 There is no, we're not, I'm not looking for my pen.
00:03:46 While most trade watchers aren't expecting the U.S. to announce its intention to withdraw,
00:03:51 the president has not been clear.
00:03:53 I would rather not have the agreement, but I may sign it.
00:03:56 Right.
00:03:56 But I would, we do better as a country if we don't have an agreement.
00:04:00 So are you thinking of?
00:04:01 Yeah, I'm thinking about maybe we won't be able to make a deal.
00:04:04 I would rather not have the USMCA.
00:04:06 If any party doesn't agree to renew, it will trigger an annual review for the next decade.
00:04:12 I think the most likely outcome is going to be that discussions continue
00:04:17 and we continue to try to find some kind of accommodation on these issues.
00:04:23 Canada's chief negotiator for the original Kuzma told a BMO audience
00:04:27 he doesn't expect a deal in the near term with a possible window around the November midterms.
00:04:33 There's a possibility for it to come together, but I think it's more likely that the discussions will continue beyond the midterms and possibly even into next year.
00:04:43 Steve Verhul and others say the key issue is separate from the KUSMA deadline, what happens with tariffs.
00:04:50 We haven't been able to get the United States to drop all of these additional tariffs that it has imposed on Canada and that are actually really devastating to a large number of Canadian businesses currently.
00:05:02 Canada, Mexico and the U.S. will meet virtually tomorrow with our country represented by Canada U.S. Trade Minister Dominic LeBlanc.
00:05:10 The U.S. President has also said he doesn't like the fact that Canada seems to be getting closer to China, making new trade deals with China and more trade agreements.
00:05:20 We know that Canada is trying to diversify, as you point out, and that really is a pillar of the Carney government is diversifying away from the U.S. market.
00:05:28 And obviously this is something as well that Donald Trump has made no secret of the fact he doesn't like
00:05:33 There are a number of other things here though that Canada I guess could do if you want to sort of sweeten the pot
00:05:38 One of them is the fact that the Americans have repeatedly highlighted
00:05:41 They don't like the liquor control board system in Canada
00:05:44 So you know that if you're trying to get American liquor, wine, beer, anything like that into the country
00:05:49 You have to go through these liquor control boards
00:05:51 Which makes it harder to import American products like that
00:05:54 But the real big sticking point recently has been that, you know, in most provinces, including here in Ontario, you still can't buy American liquor, wine or beer.
00:06:03 And that's because they do have this ban on the American products, something that was started over a year ago as a way to sort of push back against the steel and aluminum tariffs.
00:06:11 So that's an area that perhaps Canada can try to bend on in these negotiations to sort of sweeten the pot for the Americans.
00:06:17 But I think if you look overall at what's going to happen on July 1st, most experts are saying really nothing is going to happen.
00:06:25 That the Americans are not going to just all of a sudden sign a trade deal tomorrow with Canada.
00:06:29 That there's nothing, you know, serious in the works in terms of an offer from the Americans about what this new trade deal could look like.
00:06:36 And that most likely tomorrow is just going to be a discussion.
00:06:38 And from there, we just have a status quo agreement.
00:06:41 This KUSMA agreement is still in place until 2036.
00:06:44 It's not like it's just going to poof and disappear.
00:06:46 year. What will happen is if the Americans don't sign on tomorrow, it just creates a yearly review
00:06:52 for the next 10 years. So then the three countries have 10 years to come up with a new agreement
00:06:57 with annual reviews. And some American commentators have said maybe that's exactly what the U.S.
00:07:03 president wants is an annual review so that they can keep talking, make changes and agreements
00:07:08 moving forward. So that is what most likely is going to happen, despite the fact that both Canada
00:07:13 and Mexico have said they're really they are ready and willing to sign on for another 16 years
00:07:19 USMCA did one thing that I loved after six years it comes up for renewal I don't know that I'm
00:07:29 going to renew it so here we are no deal no plan just excuses while Ottawa chases trade with Beijing
00:07:36 they forgot our biggest and most important partnership and Trump said no more one-sided
00:07:42 deals. No more backroom games. Canada had every chance to secure stability and instead they
00:07:49 gambled it away. And when the dust settles, Canadians will know who sold them out, hopefully.