The National Telegraph - Wyatt Claypool - May 08, 2026


Carney PANICS after Trump Threatens His Hold on Canada!


Episode Stats


Length

17 minutes

Words per minute

183.01

Word count

3,165

Sentence count

166

Harmful content

Misogyny

2

sentences flagged

Toxicity

8

sentences flagged

Hate speech

3

sentences flagged


Summary

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

In this video, I talk about how the Canadian government is bribing Canadian companies with $1.5B to get out of the 25% to 50% tariffs that President Trump has imposed on Canadian steel and aluminum companies. I also talk about why this is a complete waste of money.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 Hey guys, Wyatt Claypool here, and welcome back to the National Telegraph YouTube channel. 0.96
00:00:06.640 Shockingly, Prime Minister Mark Carney did something really stupid on U.S. trade, 0.82
00:00:12.280 and when I say shockingly, I mean I am not shocked one bit. I covered last week that U.S. President 0.98
00:00:19.860 Donald Trump has started going around Mark Carney and negotiating directly with Canadian steel and
00:00:26.360 aluminum companies. And although the Canadian government tried to play it cool on the surface,
00:00:32.520 I knew eventually they were going to blink and react to what Trump had done. Now, they're not
00:00:38.000 going to make a press conference addressing Trump himself, but what they are doing is trying to now
00:00:44.040 bribe Canadian companies into not taking the actually fairly good offer that Trump had made
00:00:50.340 to them. See, Trump made the offer that if you run a steel or aluminum company in Canada,
00:00:57.220 you can have all of the tariffs taken off of your product going into the United States.
00:01:01.700 You just have to propose a plan to make your next expansion of your company be in the United States.
00:01:08.960 So let's say that you are operating a steel or aluminum company in southwest Ontario.
00:01:15.980 And to get out of the current 25% to 50% tariffs, you could just propose a plan to make your next $200 million expansion in Pittsburgh or in Detroit or somewhere else in the United States, and immediately the tariffs would be taken off as long as you keep to that commitment.
00:01:34.080 And now the liberal government and Mark Carney are just going to give $1.5 billion to Canadian aluminum and steel companies with the unspoken sort of message that you can't go to the US.
00:01:50.420 Carney is so weak, he can't actually negotiate a good deal.
00:01:54.300 And so he's just trying to, I don't know, wait out Donald Trump.
00:01:58.720 And in doing so, he is going to have to burn through billions and billions of dollars
00:02:04.040 merely to not have to talk to Trump.
00:02:07.380 If he was a good negotiator, he would be at the table right now.
00:02:11.400 He promised us in the last federal election that he was like the Trump whisperer.
00:02:16.040 He's dealt with them before, and of course he can get a deal.
00:02:18.440 and then he blew past all of his deadlines to get a deal and now he's pretending like he never wanted
00:02:22.800 a deal in the first place. Very annoying but in just a second here I want to take you guys through
00:02:27.660 all the details. Before we get into it though I just want to remind you guys if you like the
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00:03:01.400 if you have an abundance that you are able to throw a few dollars from every month in order to
00:03:06.100 make this whole venture work out a little bit better. Anyways, let's start off with this social
00:03:11.420 media posts that the liberals put up just a little over two hours ago. I was actually already
00:03:16.980 planning on making this video for a couple hours, and I was wondering how subtle the liberals were
00:03:21.460 going to be with this new program that they have, this new terror relief program. And then a couple
00:03:27.740 hours ago, apparently they really want to ballyhoo this thing, because outside of just a few subtle
00:03:32.340 messages in press conferences, and as well as on the government website, it hadn't really been much
00:03:38.320 up to this point, but now they have posted this. It reads, this week, our new liberal government
00:03:43.940 announced new supports for steel, aluminum, and copper businesses and workers. As we build a more
00:03:49.700 resilient economy, we're investing to ensure our industries have the tools they need to adapt,
00:03:54.980 diversify, and succeed. Yeah, this is complete nonsense. I love how they say, we have announced
00:04:02.760 new supports for steel, aluminum, copper businesses and workers. As we build a more resilient
00:04:08.020 economy. We're investing to ensure our industries have the tools they need to adapt. Adapt to what?
00:04:15.460 This isn't about adapting to anything. This is a bribe so that Carney doesn't have a bunch of
00:04:21.560 companies starting to sign deals with Donald Trump and say that, okay, our next expansion
00:04:26.120 is going to be out in Newark. Our new expansion is going to be built in Montana or Idaho or
00:04:32.600 Minnesota or Pennsylvania or wherever, Maryland, Rhode Island, who knows? They don't want,
00:04:39.680 Carney does not want the headlines that Trump is eating his lunch, although he is.
00:04:43.760 And so he is paying 1.5 billion taxpayer dollars so that these companies don't get the tariffs
00:04:49.580 taken off of them by just agreeing to a U.S. expansion. They will instead, Carney is just
00:04:54.820 going to pay for the tariff costs for them for another several months, and then he'll have to
00:04:59.200 pay it again, just so he doesn't have to admit that Trump is currently outplaying him. Now,
00:05:05.820 I wanted to take you guys through some more of the details on the government's website here.
00:05:10.160 It says, Government of Canada announces a new $1 billion business development Bank of Canada
00:05:15.500 program and $500 million in additional funds for the regional tariff response initiative
00:05:20.280 delivered by the Regional Development Agency. And it talks about Melanie Jolie and some other
00:05:26.200 people like Evan Solomon giving out this money, blah, blah, blah. Basically, they're saying that
00:05:31.060 this is all in response to tariffs. But it's kind of funny that they're targeting that to the
00:05:37.860 specific industries that Donald Trump had just made the offer to. They talk about how later on
00:05:44.680 in this announcement, all the workers they're helping and it's making up for the 25% tariffs
00:05:50.460 and all that stuff. It's just government blather. This really doesn't matter. And I don't really
00:05:56.760 want to read the quotes here because we have a press conference that I'm going to reference in
00:06:00.520 just a second. But again, they're trying to pretend that they're doing this because Donald
00:06:04.200 Trump's trying to ruin our business. In fact, Donald Trump gave what is an eminently reasonable
00:06:10.320 offer. Hey, your prime minister ain't negotiating with me to get the tariffs off. So how about we
00:06:16.780 negotiate directly, I'll charge you zero tariffs, and you can just operate your business how you
00:06:22.940 like for the next few years. But when you choose to expand your business in maybe three, four,
00:06:27.740 five years, just make that expansion at least partially in the United States, and then we're
00:06:33.040 squaresies. And so now Carney's saying, oh, well, Trump's trying to destroy aluminum and steel,
00:06:38.040 and so here's a billion and a half dollars. It's so pathetic. But anyways, in a second here, 0.98
00:06:44.040 Now I want to pull up the new the press conferences that Evan Solomon and the liberals had done.
00:06:50.620 There's no way around. I don't know who is actually at this press conference.
00:06:55.400 I was going to say there's no way around seeing this as a as some big defeat for the liberals.
00:07:02.320 This is a massive, embarrassing defeat for the liberals that they're having to shill out this money.
00:07:06.420 But now I've just been taken aback by the fact I just saw. Yeah, new newly minted Liberal MP Marilyn Gladju was there at the announcement.
00:07:16.180 She says financial help for tariff industries is on the way.
00:07:20.140 Today, Minister today, Industry Minister Melanie Jolie and AI Minister Evan Solomon announced a new one billion dollar business development bank of Canada BDC program and a five hundred million dollars in additional funding for regional tariff relief.
00:07:34.280 and I assume that this is in her riding or nearby her riding. She's trying to market her floor
00:07:40.440 crossing as somehow good for her riding when, again, if the Liberals actually negotiated a 0.86
00:07:45.400 proper deal to get tariffs off where they could actually get some good stuff in there. It's not
00:07:50.220 just giving concessions to get the tariffs off. You could demand the U.S. do something. They will
00:07:54.820 demand things from us. We'll demand things from them. If we had leverage, we could meet in the
00:08:01.020 middle. And it's not that we don't have leverage because Canada is smaller than the U.S. Smaller
00:08:05.100 countries can still have leverage. We don't have leverage because first the Trudeau liberals and
00:08:10.280 now the Carney liberals, although I repeat myself because Justin Trudeau's economic advisor was
00:08:14.840 Carney, they have ruined the economy so badly. The tax rates and regulations are so uncompetitive.
00:08:21.460 We can't go to the table and say, we don't really need you guys. We can go trade with the rest of
00:08:25.640 world. Well, yes, Carney is trying to diversify trade overseas. It's not a very credible stance
00:08:32.960 that he's taking because very clearly he's not going to actually be able to replace the United
00:08:38.020 States. Now, if Canada had much lower taxes and regulations, probably we would be able to weather
00:08:43.800 the tariff issues better than Trump and we could wait him out. Then maybe he'd negotiate with us.
00:08:47.760 The problem is Trump knows that he can make us crack first before he cracks. And that's what
00:08:53.800 he was doing with the aluminum and steel thing. He's putting more pressure on Carney because
00:08:57.540 Trump's the type of person who actually has the leverage to be able to make a deal
00:09:01.860 individually with companies where what's Carney going to do? Incentivize American companies to
00:09:06.680 come to Canada? With what exactly? Anyways, but now I want to move on to the tape of this press
00:09:14.480 conference. We had Evan Solomon here at the event talking about all the great things the liberals
00:09:21.060 are doing. This is from Juno News, the clip. So thank you for Juno. Juno says the federal
00:09:26.740 government has also announced a $500 million top up to the regional tariff response initiative.
00:09:31.240 Let's have Evan Solomon explain this to us. I will tell you that what's tougher are our
00:09:37.440 companies and our workers. They are innovative. They are resilient. They are strong. And that's
00:09:42.440 why our government is always going to support the workers and the companies that employ them
00:09:47.580 Through the Regional Tariff Response Initiative, we are helping businesses enter new markets.
00:09:53.080 We are stabilizing in the near term and building a bridge for the future because they need to be here in the future.
00:09:59.980 And that is why today I am very proud on behalf of our entire team, on behalf of all of the MPs and the Prime Minister, 0.70
00:10:08.580 on behalf of all the RDAs that the government of Canada is going to provide an additional
00:10:14.440 $500 million in funding through the regional tariff response initiative delivered by the
00:10:20.840 regional development agencies. And by the way, guys, this is cash now. Remember how Carney
00:10:28.220 tried to play it off? Like he had, you know, he's some financial guru because he's slightly,
00:10:32.760 he came in with a slightly lower deficit than previously projected. And that's only because,
00:10:37.820 frankly tax revenues are up because gas prices and other things have gone up so government also
00:10:42.460 has brought in more revenues than they thought that he was supposed to be a guru because he
00:10:47.860 lowered our deficit a little bit well he just put 1.5 billion more on the deficit because unless
00:10:55.020 there's some secret stash of money that he just found this is all debt so what well we keep hearing
00:11:02.260 that the government is finding ways of cutting costs and then they just add a bunch of more
00:11:05.800 costs on he just committed to another quarter million for ukraine or a quarter billion for
00:11:10.680 ukraine did we have that money i don't think so but what do i know i'm not a former tv presenter
00:11:17.740 like evan solomon of course he knows what he's talking about uh here is the other post that
00:11:22.100 evan solomon had made about this new program the way he pitched it here was today in vars with
00:11:29.340 melanie joely and local mps we announced 1.5 billion in new support for canadian businesses
00:11:34.400 and workers affected by U.S. tariffs, including $1 billion through the BDC and $500 million from
00:11:40.640 the regional tariff response rate. We're helping businesses adapt, invest, and grow so good jobs
00:11:45.880 can stay here at home. This is how we build Canada strong. No, you're not building anything
00:11:51.160 strong. You're bribing companies to not leave. That's not building. That is simply maintaining
00:11:57.920 at best. But even then, you're still losing because if you're having to pay money just to
00:12:03.560 keep a job here, you're not winning. You're not building. You're bribing. You are a loser.
00:12:10.600 Mark Carney and the liberals are losers, and they're having their lunch eaten by Donald Trump, 1.00
00:12:15.600 who they consider some unintelligent boor. I'm sorry, but Trump only started his career 1.00
00:12:22.120 in development in New York City in real estate with maybe $10 million. I think it might have
00:12:29.780 been a little higher than that. He does know how to make a deal. He really does know how to put the
00:12:34.260 pressure on people. But Mark Carney thought that his elite education is just so much better than
00:12:39.320 Trump, who also actually does, in fact, have elite education. But he always thought that he is an
00:12:43.360 intellectual and Trump is a non-sophisticate. And because he's an intellectual and Trump's a
00:12:48.700 non-sophisticate, he was going to be able to easily outplay him. He was going to show up and dazzle
00:12:52.680 him by his good manners and his kind of, you know, I don't know, boring charm or something like
00:12:59.580 that. And Trump was just immediately going to say, oh, yeah, don't worry, I'll give you a tariff
00:13:03.020 exemption. You're so amazing, Carney. And then he proceeded to constantly attack Trump. Wow,
00:13:09.360 Trump's not going to sign a deal with you after you let Doug Ford run attack ads against him in
00:13:14.680 his own country. Would we ever work with the Americans if random Republican governors were
00:13:20.860 just dropping tens of millions of dollars in anti-liberal ads in Canada? Obviously not,
00:13:28.020 because we have self-respect but then we thought the americans weren't going to have self-respect
00:13:32.700 and just let the ontario government dump a bunch of money into their economy to insult trump you
00:13:38.000 know the president and by the way probably those ads had zero impact but it was a great subsidy to
00:13:43.680 the american advertising uh advertising industry but you get my point here and since then in october
00:13:50.400 of 2025 when that whole advertising fiasco happened since then we've had carney basically
00:13:56.820 continuing to double down on anti-American rhetoric like he did in Davos at the WEF and also
00:14:03.420 going and making alliances with opponents of the United States like China. And yes, China and
00:14:09.280 America and Canada already traded with China. But when you're signing exclusive deals to bring their
00:14:14.820 EVs into your economy, at the same time, you're having a fight with the United States over where
00:14:20.380 cars are manufactured. Yes, did Trump start that fight? Sure. But maybe the best move here wasn't
00:14:26.280 to then go ally with China, who Carney himself said was our biggest national security threat. 0.99
00:14:32.020 It's all been so dumb. And this is why it's been such a great opportunity for Pierre Polyev and 0.95
00:14:36.840 the federal conservatives to push Carney to get a deal done, to push him on all the promises he
00:14:42.580 made to get a deal that he's failed to achieve. Polyev has done a good job of getting under
00:14:47.360 Carney's skin by basically acting like a backseat driver, which in this case is a good thing. He is
00:14:53.700 being a political backseat driver saying to Carney, how about you try this? What about that?
00:14:58.720 How about you rip up the China deal to get a better deal with the U.S.? How about you lower
00:15:02.740 taxes, lower regulations massively? How about you make it easier to build new energy projects in
00:15:07.540 this country so we have leverage on the United States? How about we do blah, blah, blah? And 0.81
00:15:12.200 Carney has not taken a word of advice despite previously being mad at Polyev for not being
00:15:19.140 cooperative enough, but it was all just an act. And when Polly have started actually suggesting
00:15:23.820 things to him, suddenly the liberals got all offended. And by the way, we're trying to whine
00:15:28.240 and dine conservative MPs behind the scenes to cross during that time. Word of advice to the
00:15:33.920 conservatives, never listen to the media telling you to be more cooperative. They don't actually
00:15:39.100 want you to win. They want you to get off the backs of the liberals. But anyways, with that all
00:15:45.020 being said, I don't think there's much else to discuss in this video other than I would say my
00:15:48.860 prediction here is that you will potentially get a company actually signing on with Donald Trump.
00:15:56.200 The liberals are going to make a big patriotism argument against how this is a company acting as
00:16:03.360 a traitor against Canada. And then you're going to have a lot of the business community start to
00:16:08.060 move against Carney that, dude, you're going to attack us because you won't get a deal signed.
00:16:13.460 And we're trying to go and not go out of business. You will have something like that
00:16:18.440 startup on Carney. This is his best issue right now. But if the conservatives can loosen Carney's
00:16:24.240 grip on his best issue, a lot of things can start folding in on the liberals because it's not like
00:16:29.060 their record's that great on any other issue. I would say the best issue for them in terms of
00:16:35.360 their record is immigration. Even that's not amazing. They still let in way too many permanent 1.00
00:16:39.740 residents, but they have cut student visas and TFWs by quite a bit. Still needs to probably be 1.00
00:16:45.380 halved again, and permanent residents probably need to be turned into less than a third of what
00:16:49.340 it currently is, they have had positive movement. But when you go into stuff like crime, the economy,
00:16:55.600 you know, military, a lot of other stuff, a lot of promises, very little delivered,
00:17:01.200 or in some cases, things have gotten even worse, like in house building.
00:17:05.460 Anyways, so with all that being said, thank you guys for watching. Like, share, subscribe. Consider
00:17:10.540 becoming a member of the National Telegraph channel by hitting the join button below the
00:17:14.920 video and I'll see you guys all next time.