The National Telegraph - Wyatt Claypool - Carney is CLUELESS On Trade - Trump pushes ＂Elbows Up＂ Liberals around!

00:00:00.000 Hey guys, Wyatt Claypool here, and welcome back to the National Telegraph YouTube channel.

00:00:06.160 Is it just me, or does Canada's trade strategy feel very incoherent right now? So incoherent,

00:00:13.300 it may leave you with the impression that Prime Minister Mark Carney and his political allies

00:00:18.320 have no clue what they're doing. Case in point, this video of Doug Ford in Washington, D.C.,

00:00:25.540 now sounding like he definitely wants a trade deal with the trump administration

00:00:30.020 despite previously attacking trump in ads that he was running down the united states and removing

00:00:35.860 american booze off store shelves in ontario we're in washington dc meeting policy makers

00:00:43.140 business leaders to talk about how we can enhance and grow our economies on both sides of the border

00:00:50.260 let's create more jobs more opportunities more investment we love the us and i know americans

00:00:55.300 love Canadians. We're having great meetings. We're going to get this done.

00:01:00.180 Now, over here, notice how he also said that Americans love Canadians. He didn't say Canadians

00:01:05.440 love Americans because based on the messaging that the Doug Ford PCs have done in Ontario,

00:01:11.080 that's definitely not the line that they're taking. But look at the book that he's holding

00:01:16.720 in his hand there. It says, Building Fortress North America. Well, that sounds positively

00:01:23.660 Trumpian in a lot of ways. Check out what he wrote in the header of this post. This week's trip to

00:01:30.560 Washington was a chance to make the case for Fortress North America. The message I took to

00:01:35.300 American business leaders and members of Congress was simple. Workers on both sides of the border

00:01:39.900 are better off when we drop tariffs and work together to build a stronger, more prosperous,

00:01:45.180 and more secure continent. Okay, so it sounds like Doug Ford is in the position that I've

00:01:52.780 always been in. Yes, I don't like the tariffs that Trump put on Canada's economy. At the same time,

00:02:00.180 we should also probably be trying to figure out a way of getting to zero tariffs, and that might

00:02:05.520 involve having to get rid of supply management tariffs that we have on the United States

00:02:10.200 on things like dairy, poultry, and other such products. Doug Ford is the guy who, again,

00:02:17.500 ran anti-Trump ads to the tune of like 15, 20 million dollars in the United States

00:02:24.540 attacking Trump that got some of the original trade talks canceled.

00:02:29.100 This is the guy now going down there saying that we need to have,

00:02:32.660 we need to talk about building Fortress North America.

00:02:35.620 And by the way, it's not just Doug Ford.

00:02:37.860 Behind the scenes, they're saying that the federal liberals

00:02:40.600 and our trade minister to the U.S., Dominic LeBlanc,

00:02:43.920 is also doing this same strategy, saying that, hey, aren't we better together? We should try

00:02:50.020 dropping tariffs on both sides of the border so that both of our economies are stronger.

00:02:55.440 And it's like, well, that was always what people like Pierre Polyev and me were saying,

00:03:02.080 that we should figure out a way of deciding, okay, if you drop this, we'll drop that,

00:03:06.900 and we'll try and get to zero tariffs. But the Carney liberals and the Ford PCs were always about,

00:03:13.080 No, Trump's in the wrong. He should just drop it. He should drop it without getting anything because he's the aggressor here. And maybe he is. That's up for argument. It doesn't really matter, though, because we're in the situation now. So how are we going to get out of it?

00:03:28.200 We're not going to get out of it by telling Trump that he's actually super wrong about what he's doing, and he should just end it now without us having to drop anything like supply management tariffs or get rid of things like the digital services tax or the tripling of the streaming tax.

00:03:44.800 Now, the Liberals have been slowly moving towards this in the background because they did get rid of the digital services tax and did cancel the tripling of the streaming tax.

00:03:56.440 But at the same time, they won't admit that they are moving towards the kind of zero tariff environment that Trump is demanding.

00:04:03.980 They are, in fact, going around the world and still talking about how all of the middle powers need to band together and Canada's diversifying our trade away from the United States.

00:04:13.560 I just want to show this clip right here about talking, well, about Carney talking about how Canada is the most European of the non-European countries. 0.51

00:04:23.460 The new world will be built out of Europe. Canada is the most non-European of European countries. And we are currently transforming our cooperation with the European Union.

00:04:41.620 Last June, we reached a new partnership with the European Union that has strengthened our cooperation on climate, technologies and trade.

00:04:54.440 In February, Canada became the first non-European member of the SAFE mechanism, an initiative by the European Union on Defence Procurement.

00:05:06.880 We have already established 56 partnerships on critical minerals in more than 10 countries,

00:05:15.180 primarily in Europe. Now, I'm highlighting this because Carney is doing this at the same time

00:05:21.200 LeBlanc and our trade negotiators are down in the U.S. trying to make concessions. But he's

00:05:26.940 gone back on the road, I think, to try and pump up his sort of like anti-American bona fides.

00:05:32.960 look, I'm moving away from Trump. I'm now growing our Canada's trade exports with Europe and with

00:05:44.700 Asia and whatnot. We don't need those Americans. At the same time, behind the scenes, he's like, 1.00

00:05:48.520 we desperately need you. What do you want us to drop? We'll do it. And by the way, I'm not even

00:05:53.540 criticizing him for making concessions. By the way, if he was playing proper hardball, he could

00:05:58.380 demand concessions from the United States too. And we would be in a real negotiation,

00:06:02.460 but he hasn't actually improved our economy in any way. So the man is walking around with zero

00:06:08.100 leverage. I just looked it up before I made this video. Our trade exports are nearly down 1%

00:06:14.820 since he became prime minister. And you could say, it's just 1%. Who cares? Well, shouldn't

00:06:20.300 we be growing our exports? The problem is, is that we are trading about 5.8% less with the United

00:06:26.440 States in terms of our exports are down 5.8%, but they represent 75% of our exports. And yes,

00:06:33.760 we've increased our non-US export by 14%, but you'll notice that that is not that good compared

00:06:40.740 to 5% of 75. I'd rather have 5% of 75 than 14% of 25, and that's why we're overall down. It's hard

00:06:50.540 to diversify our trade when those countries don't really have that much left to really spend on

00:06:56.380 canadian goods when they're busy trading with each other or the u.s who can make better deals

00:07:01.600 with them we are shipping our goods right across the atlantic i guess hoping that we're going to

00:07:08.540 be the cheapest version of whatever they're buying which is pretty hard to believe but here's now

00:07:13.200 carney talking about how he doesn't actually expect to be talking about trade with donald

00:07:17.400 trump at the g7 uh so as of now uh trump only has one bilateral with one g7 leader that's macron

00:07:25.400 Do you expect him to have the headspace to talk about trade in Canada?

00:07:30.800 And do you think there'll be a meeting?

00:07:32.320 I think the principal discussions on trade are going to be held between Minister LeBlanc,

00:07:39.880 our chief negotiator, Janice Charette, and their counterpart, Jameson Greer, Ambassador Greer,

00:07:46.080 Secretary Besant, will be the principal aspects.

00:07:49.360 This G7 is going to have a, as often happens with G7s, a very heavy geopolitical element to it, given very fluid events in the Gulf.

00:08:01.700 And I would say as we, you know, on this fine day, trending in a positive direction.

00:08:08.200 He's trying to switch topics here, but effectively what Carney is trying to do is downplay any expectations for results.

00:08:15.240 So he's just saying, oh, I don't expect to talk to Trump about trade. Why wouldn't you? Isn't that like the biggest thing on your docket with Trump? It's not like it's the G20 where there's so many world leaders, maybe you're not going to be able to get a three hour meeting with the president. It's the G7. You are one of seven countries in the G7. And you don't think you're going to be able to bring up trade with Trump while you're there.

00:08:38.220 again it's because Carney is there's a few things going on here one he sucks at negotiating so let's

00:08:44.560 just get that out of the way two he's also having to do a bit of a political tightrope walk right

00:08:49.640 now where he has to pretend he doesn't need the United States at the same time he knows he does

00:08:54.860 and he has to try and please Trump make certain concessions without Canadians really knowing

00:09:00.520 about it to try and get to a trade deal but again the problem with that is Trump doesn't want to make

00:09:06.040 a secret trade deal with Mark Carney, where Trump's not going to be able to say that he got

00:09:11.260 something out of it, he's going to be able to want to actually declare victory here. And Carney

00:09:15.380 doesn't want to give him the victory because if he gives Trump something that he can declare victory

00:09:19.340 over, and Carney can't say, no, actually, I'm the real winner here, it's going to affect the

00:09:24.300 liberal base who might defect over to the NDP because they wanted basically complete obstinance

00:09:29.700 all the time to the Americans. And the thing with Carney's trade strategy overall is if you're

00:09:37.140 going to diversify trade, go all in on it. Now, I don't actually think that's the good thing to do.

00:09:43.080 I actually think the Fortress North America play is smart if you did it a year ago. Now,

00:09:49.060 now is better than never, but you should have been doing this a while ago. It's just been a

00:09:53.840 big waste of time not doing it. That's still the best play. But if you were to diversify trade,

00:09:58.040 Go all in on it. Cut your taxes. Cut your regulations. Make Canada a far cheaper place to do business so we can lower our product cost so then we can actually export to Asia and to Europe and to other areas of the world with actual credible prices to be able to negotiate over.

00:10:18.820 The problem is we have really high prices overall because it's just not a very good economy to work in, which also has been setting us back in trade negotiation talks with the Americans because, well, we just don't have that much leverage.

00:10:34.120 And the thing is that just because we're smaller doesn't mean we can't have leverage.

00:10:37.200 Polyev and many other people have been saying, if you actually cut your taxes and your regulations and you made it a far easier place to do business, then you would actually be able to credibly say, maybe I don't need the U.S.

00:10:47.740 But right now, the U.S. is more credible when they say, I don't need Canada, which Trump actually did say recently when he said, maybe I'm not actually interested in even renewing Kuzma, and it'll just go away and the tariffs will start applying to everything.

00:11:01.800 You know, maybe he's probably somewhat bluffing because it would hurt the United States to be tariffing everything coming in from Canada.

00:11:09.160 At the same time, obviously that would hurt us far more than it would hurt him at this point.

00:11:14.360 And what we could have done is built up on a domestic economy where that wouldn't have been true.

00:11:19.840 But now I want to move on to another clip here where it's Kearney reacting to Polyev criticizing him for going overseas and basically continuing to sign meaningless agreements to pretend he has some momentum on trade.

00:11:33.700 Despite what you mentioned in your preamble about what you've been able to accomplish on this leg of the trip, there has been criticism from the leader of the opposition saying that Canada already has a trade deal with Ireland and what you're doing on this leg of the trip is not at all helping Canadian workers whose jobs are affected by tariffs from the United States.

00:11:56.380 I wanted to get your response to that.

00:11:57.560 Well, we have a couple of things. We have a trade deal with Ireland, but we don't have ratification, full ratification of the trade deal with Ireland. So one of the things that, and I want to commend the teacher.

00:12:09.340 I'm just going to speed this part up. Basically, he's saying that, well, both chambers of the Irish legislature had quite passed the trade agreement yet, which meant it could be vulnerable to be thrown out later.

00:12:23.240 It's like, well, I don't think there's a really required you to show up there. There's a very non-controversial agreement. If anything, you could have probably just got on the horn with the Irish prime minister and president and said, hey, can you guys push for that thing to be passed?

00:12:36.440 and it could have been passed in an afternoon nobody would have been complaining about it that's

00:12:40.740 why it was ratified pretty much in whole but let's skip over a little bit over to him trying to

00:12:44.960 explain his overall trade strategy here ireland will be president of the european union values

00:12:51.080 and the link between those so it's it comes together at a time where there's an enormous

00:12:56.000 opportunity and i would remind that the scale of this economy the european economy is absolutely

00:13:02.320 enormous this is an economy of more than 400 million people it's one of the richest economies

00:13:09.280 and it is under penetrated by Canadian businesses now one of the reasons why that in fact you can

00:13:16.060 do different analyses of this but directionally the opportunity for Canada in Europe is as big

00:13:23.340 as in if not bigger than any other economy now to explain to the leader of the opposition who

00:13:29.800 will try to clip it. I'm sorry, but now he already knows he messed up because he knows that the leader

00:13:34.820 of the opposition, Paliyev, is going to clip this, and he should. I'm sorry, just because Europe has

00:13:41.360 more people than America doesn't mean it's a bigger economy. America's economy is still bigger

00:13:46.280 than the economy of every single European country, and we could even throw the Middle East in there

00:13:51.260 too. Sorry, you're never going to be able to actually have an export economy that replaces

00:13:57.880 of the United States with a place that you have to ship things on boats to get to. Yes, we also

00:14:04.720 ship things on boats to the United States because at times it's more efficient, but we can also

00:14:09.200 truck things over the border. You can't replace that. You cannot trade enough with Portugal,

00:14:15.760 with England, with France, Sweden, northern Macedonia. There's no way for us to replace

00:14:23.740 the United States in terms of quality exportation with the EU, unless we just slash our taxes and

00:14:30.740 regulations and we become a more efficient economy. But he doesn't want to do that.

00:14:35.700 Instead, he keeps basically posturing about how I'm totally going to start trading with the EU

00:14:40.840 a lot. And it's like, well, no, they don't really have much more capacity to buy goods. That's why

00:14:47.460 we have not been able to fully replace the United States by exporting elsewhere. And by the way,

00:14:52.620 our exportations elsewhere are netting less money overall because of the increased transportation

00:14:58.420 costs on the goods we're sending. To the leader of the opposition, we will try to clip that and

00:15:06.080 not follow through. Add this. Opportunity means what more? What more can you get? What more can

00:15:13.500 we, how more can we grow? What more can we get? How more can we grow? It's turning into a Dr.

00:15:19.140 Seuss book. No, there's not more that we can get in Europe. The free market is this wonderful thing

00:15:27.840 that apparently you're experienced with. In fact, the free market is not stupid. If Canadian 0.89

00:15:34.120 producers could get more money trading their products into Spain, Italy, France, the United

00:15:41.380 Kingdom, into Norway, they'd be doing it. They weren't doing it before, not because the U.S.

00:15:46.860 was strangleholding us. We're only in a stranglehold of trade efficiency. It's super

00:15:53.600 efficient to trade with the United States. You get the most bang for your buck for your product,

00:15:57.720 so you send it down there. We're not getting more. We're not finding more opportunity

00:16:02.240 by going to Europe. It's at best a different opportunity, one that isn't really as good on

00:16:09.300 paper or in reality. This opportunity means what more? What more can you get? What more can we

00:16:16.660 how more can we grow from where we are today and the fact is it can be measured in hundreds of

00:16:21.460 billions of dollars of opportunity that we have not as a country fully taken advantage of and by

00:16:28.580 deepening our relationships like making it simpler to do business in ireland in europe we create

00:16:34.900 enormous opportunity for canadian jobs yeah um no what all he's doing is at best preserving canadian

00:16:42.900 jobs. So if you're in a lumber mill that was that was shipping to the United States, you might now

00:16:49.200 be shipping a little bit more to Japan or to Korea or Indonesia or to Europe. You're more so

00:16:55.360 replacing it. That's why we are having quarterly declines in productivity. Why? Yes, that is a lot

00:17:03.420 to do with the fact that our immigration is going down and even the population is going down a bit

00:17:08.720 In a healthy economy, if we actually had cut regulations and taxes, we would have bounced back very quickly, no matter if the population went down 2% or 3% or not.

00:17:18.700 We would just be so much more efficient that our productivity, our harvest rates, the harvest rates for lumber would go up, that farm output would go up, that the products we're making would become cheaper and we'd produce more of them and we'd ship them around.

00:17:35.960 We're not actually replacing anything right now.

00:17:38.500 We're not growing anything with our trade in the US. Our economy is shrinking. Our exports are

00:17:43.160 currently shrinking because all we've done is redirected some of the things that we were

00:17:47.760 normally selling to the US over to Europe. That's not expanding a market, but he always talks about

00:17:52.700 it like that's tens of billions, hundreds of billions of dollars for the Canadian economy.

00:17:57.620 It's like, no, it isn't. That's like if I take $5 from my left hand and give it to my right hand

00:18:03.120 And I pretend I've created five dollars. That's not how that works. But anyways, I want to now move on, actually, to a clip of the CBC where somebody who I disagree with 99 percent of the time and I still mostly disagree with here makes a semi good point.

00:18:19.500 That being Chantel Hubert on Rosemary Barton's show a couple of days ago, where she does go after Mark Carney for the fact that he promised a trade deal.

00:18:28.380 And he does have to own up to the fact that, well, whether he's going to say that Trump's unreasonable or not, he promised it and it didn't happen.

00:18:35.100 All the things that Alvia lists or demands for more concessions, please organize group tourists so they are forced to come to the U.S., put booze on the shelves.

00:18:46.880 I'm not hearing anything that talks about the U.S. openness.

00:18:50.900 But can we remind ourselves, because at some point one needs to keep score,

00:18:56.380 that at this point last year the Prime Minister believed

00:18:59.260 that he would have resolved some of the main issues on the trade front.

00:19:02.620 And then when that didn't happen, it was supposed to happen on July 21st,

00:19:07.500 and then it was going to happen on August 1st.

00:19:10.280 So can we keep track of reality?

00:19:13.100 A year ago, optimism had deadlines.

00:19:16.500 today it's got wow it's going well we spoke for an hour yeah yeah yeah i mean and and a bridge that

00:19:25.060 that we have paid for uh that is ready to go that that that we are not allowed to open apparently

00:19:31.080 because of whatever's going on behind the scenes because nobody will explain how those two things

00:19:35.460 are related either and even then a little bit of clarity from rosemary barton for a change

00:19:41.720 That's another thing that's been going on that's like really weird that people haven't been harping on more, that Carney has just agreed not to open the Gordie Howe bridge that was recently completed because Trump told him not to.

00:19:58.600 Now, Trump's basically just playing hardball to get more leverage on Mark Carney.

00:20:03.160 And heck, if you're an American, you probably might even like that sort of thing.

00:20:06.860 But Carney keeps talking out of both sides of his mouth.

00:20:10.040 it's frustrating because one day he talks about how good the trade relationship is with the united

00:20:15.880 states and we're in talks and we're going to get to some deal but i'm only going to sign a deal

00:20:19.640 that's great for canada and then the next day he's talking about oh i want to diversify trade

00:20:23.960 and that's really what i'm focused on is is making sure that canada it does isn't solely

00:20:28.760 reliant on the united states anymore and then we're going to get to a clip a little bit after

00:20:32.760 this clip about to play where he actually says no i never said i'm going to be trying to diversify

00:20:36.840 and forming a coalition of middle powers.

00:20:38.780 I never said that, even though he clearly did. 0.74

00:20:43.080 There's no through line for me to show you guys here,

00:20:45.460 because there is none.

00:20:47.600 Carney is just incoherent.

00:20:49.420 He's just not very good at this, you could say.

00:20:53.920 Kyle Bridge, yesterday you were talking about

00:20:56.840 being technical issues and no big drama.

00:21:00.460 But there was the Michigan Republican House leader

00:21:02.860 yesterday quoted saying he wants to see a 50-50 split

00:21:06.760 of the toll revenue from the beginning, right, before Canada's paid back for its costs.

00:21:12.200 It sounds more like a shakedown than a technical issue.

00:21:15.800 How do you characterize that?

00:21:17.180 And is that something that is on the table?

00:21:18.860 Well, the individual, I didn't see the comment from the individual, but your description

00:21:23.580 of the individual would not be somebody who's in the U.S. administration by definition.

00:21:28.860 So I'll leave it at that.

00:21:30.220 The Canadian officials actually called off the opening of the Gordie Howe Bridge because

00:21:34.560 they were worried about backlash from the Trump administration.

00:21:36.760 I know yesterday. That's that's not true. Yesterday you said it was due to technical issues.

00:21:40.660 What are those technical issues? It's the discussion. As I said yesterday, the was at the request of the U.S. administration.

00:21:53.700 We'll look to work through what issues they have. I'm not I don't think it's productive to to work through those in public.

00:22:01.080 And our teams are working through. I actually haven't been briefed on it today.

00:22:05.680 the specifics. You can tell he's lying because, again, he's doing what he always does when he's

00:22:09.940 uncomfortable with what he's saying and he starts saying um and ah a lot. He said, well, I didn't do

00:22:14.300 it because the Americans pressured me not to. It was for a technical reason. He's like, is that

00:22:19.100 technical reason that Trump told you to do it? He's like, oh, well, you know, well, we're working

00:22:24.080 through stuff and it's not productive for me to tell you what's going on. It's important we get

00:22:29.260 this right. This is an asset for both countries and our people, most fundamentally, that's going

00:22:36.360 to exist for decades. So if we need to take a few more weeks to get it right and get it launched,

00:22:41.620 we'll do that. Now, if you actually wanted to make a power move as Mark Carney here,

00:22:46.740 I could actually just see, just open the bridge, just do it. Who cares what Trump said? Just open

00:22:51.080 the bridge, except he's not doing it. Like, that's why I find it so weird. He talks tough.

00:22:55.940 Doug Ford also talks tough, and I'm going to remove booze from store shelves in Ontario.

00:23:02.940 And then Carney's talking about how our relationship with the Americans has ended, and we're going to form a middle powers coalition and whatnot.

00:23:11.300 And then Trump says, don't open that bridge that you fully paid for.

00:23:15.100 And Canada did pay for the entire construction of the bridge, about $6.4 billion.

00:23:19.660 And when Trump tells him not to open the bridge, he's like, yes, sir, I want to open it.

00:23:24.100 Now, probably the Americans would say, well, we've been paying for your defense.

00:23:27.360 We've been doing this and that.

00:23:28.500 You owe us money.

00:23:29.220 So we want it to have 50-50 revenues right now rather than it being 100% Canadian revenues

00:23:35.280 until the price of the bridges is collected and then it goes to 50-50.

00:23:40.140 Whatever.

00:23:40.660 I don't care about the actual technical argument.

00:23:42.540 I'm just talking about the trade maneuvering.

00:23:44.980 Carney always rhetorically talks tough domestically.

00:23:48.400 And then when he's actually up against the Trump administration, just kind of starts waffling and turning to jelly, but also not even getting anywhere at the same time. It's not like he's making concessions, but moving towards a trade deal. He'll make concessions moving towards nothing.

00:24:02.660 But now I want to get to his last flip-flop here, which is him talking about how, well, I never said that we were going to form a middle powers coalition, and then somebody coming with the exact quote, proving that that's exactly what he was advocating for previously.

00:24:18.740 You know, to be clear, and if you look at the speech, I've never advocated that all of a sudden there was going to be a band of middle powers, you know, the M20 or something like that.

00:24:31.380 But the point that I made, and I think you do see this concretizing, if I can invent that verb, hopefully it's a verb, you can double check that, David.

00:24:42.040 You see it concretizing in our bilateral relations between Canada and France and relations with Europe.

00:24:48.740 So just to recap one element of Davos, which is we talk in terms of variable geometry.

00:24:55.400 So different partnerships with different groups of countries for different issues.

00:24:59.760 Sometimes it's for outcomes like the coalition of the willing.

00:25:03.300 This is just becoming just nonsense prattle.

00:25:06.400 Here is what Carney had actually said back in his Davos speech.

00:25:11.060 Peter McCaffrey from, I believe, the Alberta Institute highlights this.

00:25:15.440 He says he literally gave an entire speech about the need for a band of middle powers, quote, the middle powers must act together because if we're not at the table, we're on the menu.

00:25:24.760 And that's the problem. Mark Carney's rhetoric has like nothing to actually do with his stance on trade.

00:25:31.740 He flip flops on what he's going to do on trade pretty much every week.

00:25:36.100 And this week, he's effectively talking out of both sides of his mouth.

00:25:40.000 Dominic LeBlanc and Doug Ford heading down to Washington, D.C.

00:25:43.540 to be very conciliatory and nice.

00:25:46.480 And Carney going abroad to pretend he's still on the trade diversification train,

00:25:51.640 despite the fact that he refuses to put all of his eggs in that basket.

00:25:55.080 He's like putting little bits of effort into trading a little more than Indonesia or Japan or France or the U.K.

00:26:00.880 And we've not actually been diversifying trade abroad because of anything Carney's been doing.

00:26:06.320 It's just that when you can't trade goods into the U.S. because the tariff's too high, well, now maybe it is worth trading to Spain or to, you know, the U.K. now with your excess steel or whatever.

00:26:17.340 So they've been sending it over.

00:26:18.920 That's effectively what's been happening.

00:26:20.620 It's not because Carney said, I know what we should do.

00:26:23.240 We should do a bit more trade with Guatemala.

00:26:26.260 And we started doing it.

00:26:27.520 Or, you know, we should form a partnership with Luxembourg and send them more stuff.

00:26:32.840 That's not why we're sending them more stuff.

00:26:34.780 It's just the free market saying, huh, Cosmoor sends steel to the United States.

00:26:39.120 We're taking a real haircut on our profits here.

00:26:42.960 And so usually Europe wasn't as good, but it might actually be better now.

00:26:46.300 So I'm going to sort of detour a bunch of my steel off to Europe, or I'm going to detour a lot of my lumber over to Europe or aluminum or copper or whatever.

00:26:55.260 But anyways, you get my point here.

00:26:57.520 the Kearney Liberals and the Doug Ford PCs and pretty much everyone on the Elbows Up team

00:27:02.620 completely incoherent on trade. I wish they would get together and figure out how to get a clue.

00:27:08.560 Anyways, with all that being said, thank you guys for watching. Make sure to like,

00:27:12.400 share, subscribe. Consider hitting the join button and becoming a member of the channel,

00:27:17.040 and I'll see you guys all later.

The National Telegraph - Wyatt Claypool - June 14, 2026

Carney is CLUELESS On Trade - Trump pushes ＂Elbows Up＂ Liberals around!

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