The National Telegraph - Wyatt Claypool - Carney's Trade Strategy Blows Up In His Face - Trump Hits Liberals with Booze Ban!

00:00:00.000 The skull-crushing stupidity of the Canadian Liberal establishment is truly something to behold. 1.00

00:00:07.300 After Prime Minister Mark Carney put counter-tariffs on the United States, 1.00

00:00:11.760 after they expanded their tariffs on Canada to include 5% more goods,

00:00:16.960 apparently the Liberals thought this escalation was only going to cause good.

00:00:22.560 No doubt any day now, President Donald Trump is going to apologize to Canada

00:00:27.300 and take all the tariffs off and say, I'm so sorry, here's $100 billion.

00:00:33.500 Yeah, that's not happening.

00:00:36.020 In fact, President Trump is putting new counter tariffs on Canada in response to our counter tariffs.

00:00:44.420 We're in the worst timeline, people.

00:00:47.240 In just a second, I want to take you over to the CBC News segment

00:00:51.280 where they start talking to people from the booze industry that is going to be subject to a partial ban.

00:00:57.300 in the coming days here but before we get into that i just want to remind you guys if you like

00:01:02.340 the show make sure to leave a like on the video subscribe if you're not yet a subscriber consider

00:01:07.140 hitting the join button if you want to become a monthly contributing member of the channel

00:01:11.460 and also if you happen to live in southwest calgary i am going to be running for the calgary curry ucp

00:01:18.820 provincial nomination so you can always check out my link pinned at the top the comments below

00:01:23.940 why at claypool.com if you live in the curry provincial riding and you want to buy a membership

00:01:29.620 and support me for the ucp nomination but with all that being said let's jump into the cbc segment

00:01:36.660 where the mood has shifted it's almost like people are realizing that carney doesn't know what to do

00:01:42.740 and that in fact the americans can swing back at us and the world is not as carney says it is

00:01:48.820 Canadian alcohol set to be banned. Let's turn now to the industry that is going to feel that

00:01:54.940 firsthand. Cal Bricker, President and CEO of Spirits Canada. Cal, good morning to you.

00:02:01.480 Good morning to you, David.

00:02:02.700 Cal, can I just get a sense of how big is the industry exposure to the United States?

00:02:09.920 Well, it's pretty significant. We produce about $2 billion worth of spirits in Canada a year,

00:02:14.740 and about a billion of it is sold in the U.S.

00:02:16.960 so yeah yeah so a little bit so 50 of the industry is reliant on the united states

00:02:25.020 great idea premiers of canada good job david eby wab canoe uh doug ford whoever the lady is

00:02:34.760 in quebec right now i don't care to learn her name susan holton new brunswick and all the other 1.00

00:02:40.120 primers. What a master stroke of a strategy. Yeah, let's ban American booze because what's 0.96

00:02:48.600 our exposure? Oh, we just happen to send them way more booze than they send us. Yeah, that's not 0.84

00:02:54.680 going to hurt our producers at all. There's a significant amount. You had already been facing

00:03:01.040 a 50% tariff. I wonder, had that made those products essentially unsellable in the U.S.?

00:03:08.100 Like, does this ban just officialize what had already been happening?

00:03:14.500 No, it hadn't actually already been happening.

00:03:16.960 The 50% tariff on Canadian booze, it's almost like the CBC is trying to, like, memory hole it to convince the audience that this has been in place for longer than it has.

00:03:27.000 This is part of the new 5% of tariff goods.

00:03:31.060 To my knowledge, that's how it works because we have not been hearing about the booze ban or any booze taxes ahead of this.

00:03:36.400 this is basically hitting like one after another but they're acting as if this has always been in

00:03:41.980 place like no no no this is very new and if there are producers in your community a lot of jobs

00:03:48.240 could be at risk because what are you going to do keep people employed for two years to produce

00:03:52.840 products that you can't sell because there's no market for it in the u.s because no one's going

00:03:57.240 to pay 50 of the product's value just to add bring it into the united states i don't i don't

00:04:04.440 think so i mean different producers are going to manage it in different ways some will absorb it

00:04:08.920 some will pass it along some will pass some of it along plus there's inventories that are that

00:04:14.680 are in the u.s that i'm sure that a number of the folks that are my members will work their way

00:04:20.440 through but you know anything that's a headwind like that in an industry that's already being

00:04:25.080 challenged is a significant pressure on us when you talk about absorbing it how does a producer

00:04:32.200 do that at 50%? Not easy. I mean, we're operating on razor thin margins. And, you know, it just it

00:04:41.760 just makes our products that much more, you know, you know, less lucrative when it comes to selling

00:04:47.820 in the US. And it's in a very, very important market for us. For example, you know, if we're

00:04:53.880 looking at Crown Royal, we sell more Crown Royal in Texas than we do in all Canada. That's how

00:04:58.360 exposed me right here. Doesn't this fan know elbows up? Hasn't he heard the siren song of

00:05:05.440 elbows up? Shouldn't he be okay with this? Shouldn't all of his employees that he represents

00:05:10.320 as the industry spokesperson, shouldn't he just be okay with this? No, no. I know the Laura Babcocks

00:05:17.160 of the world, Charlie Angus, and all these other people who don't have real jobs. I know they don't 0.97

00:05:23.000 carer because i'm gonna buy more stuff from canada i i'm gonna i'll buy all the crown royal don't

00:05:28.600 worry guys don't worry don't worry mark carney who cares that they're banning our booze i'll buy it

00:05:33.680 i'll buy it carney i'll absorb the hit like guys we can't do it you just you heard what he just

00:05:39.780 said one state out of the entire united states buys more crown royal than all of canada and

00:05:47.240 we're just going to say yeah what is a billion uh what is a billion dollars worth of exports to

00:05:53.580 to somebody like we apparently need to praise carny for signing a deal with indonesia to

00:06:01.380 potentially maybe double our trade i only think it was to double the trade but even if you double

00:06:06.680 the trade with indonesia will you bring in like another hundred million dollars okay well apparently

00:06:12.900 that trade diversification is going to offset just slashing and burning an industry worth

00:06:20.060 billions and billions of dollars. Great job, everyone. So it's a big hit. What do the producers

00:06:26.240 do? Are they going to have to figure that out now? Well, I think everybody's going to have to

00:06:31.480 figure out. I mean, we're not alone. I mean, there's a whole number of sectors in the country

00:06:36.740 right now that are are trying to uh take on what what all this announcement meant yesterday i mean

00:06:43.700 we're very hopeful um you know it's september 29th it's also coming into effect we're hopeful that

00:06:49.860 the two sides can return to the table and get some kind of a resolution here because this isn't

00:06:54.180 helping anybody traitor i can't believe this traitor would say we should go back to the table

00:07:01.140 Doesn't he know that Donald Trump has been posting some pretty spicy memes recently?

00:07:06.980 Doesn't he know that Carney cannot possibly go back to the table with Donald Trump renaming Lake Ontario, Lake America only for Americans?

00:07:18.360 Like, oh, my goodness.

00:07:19.860 Yes, all the industry people, if they're being honest, are like Cal Bricker here.

00:07:24.620 We need to get back to the table.

00:07:26.420 We need to play a hardball.

00:07:27.460 we need to figure out what we need and what we are willing to give up to get what we need.

00:07:32.220 Getting rid of the China deal is a really easy first step. Supply management may have to be

00:07:37.480 softened. Because by the way, Canadian dairy actually does go into the United States. And

00:07:42.600 the dairy industry is not super happy that dairy is going to be one of the banned products to the

00:07:48.320 US. Cheese, dairy, a lot of other supply management products that we need supply management to

00:07:55.220 protect those industries, now that they're not going to be able to send some of their excess

00:07:58.500 product to the US in certain regions, well, now they're in trouble. It's almost like the supply

00:08:03.260 management system may need to be on the chopping block in order to save the dairy industry,

00:08:08.620 ironically. Maybe we should get rid of C11 and C18. Really? We couldn't get rid of C18 to get 0.87

00:08:16.120 a better trade deal? By the way, every element of the trade deal that's kind of leaked out about

00:08:20.860 25 percent aluminum steel tariffs that i don't like those are too high those could probably be 0.71

00:08:25.460 alleviated if we weren't being so tight-fisted with this other garbage we won't give up it would

00:08:30.420 also be a better situation if we hadn't waited this long and we hadn't been making concessions 0.95

00:08:35.660 for nothing which for some reason the liberal media never really forces the liberals to answer

00:08:42.100 for past the week that it usually happens in oh well you gave up the dst for nothing oh why do you

00:08:48.020 do that oh well we're trying to you know build a relationship here and get to the table and a year

00:08:53.460 later we should be asking was it worth it just giving that up for nothing in return and now

00:08:58.200 we're all shock gasp we don't have any leverage anymore like it's maddening the kind of position

00:09:04.560 that we are in and we keep acting as if everything is out of our control even though with the deck

00:09:10.260 of cards with the hand of cards we've been dealt we are playing all the wrong cards and we're

00:09:14.300 ripping up cards for no reason. Of course

00:09:16.460 we're not doing well. We suck at 0.99

00:09:18.380 this game, or we don't. Carnie 0.99

00:09:20.360 does. Cal, the

00:09:22.320 Americans are arguing this was a long

00:09:24.300 time coming, that when eight Canadian provinces

00:09:26.500 pulled U.S. booze off their shelves

00:09:28.300 that it was tantamount to a ban, and they say

00:09:30.200 they're reciprocating only in kind.

00:09:32.460 Do you think it was the right move

00:09:34.100 for those Canadian provinces to pull

00:09:36.100 U.S. alcohol off their shelves?

00:09:39.380 Well, I mean,

00:09:40.380 obviously we wouldn't support pulling

00:09:42.000 alcohol off the shelves, but

00:09:44.000 But, you know, I feel like Cal Breaker wants to reach through the screen and just strangle him. 1.00

00:09:50.640 Shut up. Oh, do you are you a man who is involved in the free selling of alcohol in favor of a country escalating using the issue of alcohol? 0.97

00:10:01.300 No, no, he's not. People in these industries are in favor of a free market.

00:10:06.760 They, in fact, do not want there to be tariffs in place.

00:10:10.420 They do not want there to be booze bans in place on the Canadian side because it could trigger what's happening right now.

00:10:17.200 David Eby, Doug Ford, Wab Kanu, all these premiers purchased this.

00:10:22.800 The only ones that didn't are Scott Moe and Danielle Smith.

00:10:25.860 The real situation that the provinces face here is they don't really have very much they can retaliate with.

00:10:31.540 um so if you uh you know if you're not looking at alcohol which they can actually control

00:10:38.640 the list is very the list is very very short so that's that's i think why we were uh we were

00:10:45.280 targeted the other thing is that people notice it so there's a there's a political element to this

00:10:48.820 as well all right cal bricker thank you very much i feel bad for him the fact that he has to go on

00:10:56.200 to mainstream media and try and explain the situation to probably an audience who's geared

00:11:01.840 up to saying why why is cal brickard not throwing in with laura babacock a useless consultant and

00:11:08.820 and committing to only doing business in canada to only traveling in canada only selling in canada

00:11:14.600 guys in order to absorb the loss in sales to the u.s on canadian alcohol we would all have to die

00:11:22.160 of delirium tremens in the next week to basically consume it all that is not going to happen but

00:11:28.740 all these people will just say oh no no carney has a plan what plan he's never articulated a plan

00:11:34.100 once this entire time now here's another person involved in the industry being reviewed being

00:11:39.460 interviewed by the same not very smart cbc host steven taylor here says moose head ceo moose head

00:11:47.780 shipments to the u.s are now not profitable we'll keep shipping to the u.s in order to keep the

00:11:52.120 shelf space. That is how bad it is. They will literally take a haircut on any money being made

00:11:59.360 in order to simply just hold down the shelf space. That is how desperate the industry is.

00:12:03.900 They are willing to just keep shipping to make no money in order so that shelf space doesn't

00:12:09.440 get taken away from them in American stores. That is clearly signaling how deep, how needed

00:12:16.700 the american market is they will make zero dollars for the interim period until this gets solved

00:12:21.880 just so that they can at least keep that relationship going the booze industry danielle

00:12:27.980 smith scott moe and like i guess pure poly and like mark and like jamil javani are like the only

00:12:35.280 people not shooting us in the foot right now so let's listen to this guy talk y'all he reminds

00:12:41.640 me, for any of you who live in the Foothills federal riding, that guy reminds me of Barlow.

00:12:49.480 What's his first name? I forget. It's the MP Barlow, John Barlow. He looks a lot like him.

00:12:58.520 The impact is significant. We're dealing with the 50% tariffs now, which essentially means every

00:13:06.120 case that we're shipping to the u.s is not profitable and we're now in this perplexing

00:13:12.200 situation where we're trying actually to accelerate in our shipments to the u.s over the next three

00:13:18.120 weeks to get ahead of this september 29th ban the key issue for us is shelf space at u.s retailers

00:13:28.280 whether it's a hanafords in maine or a public's in florida if you go into those retailers they

00:13:33.560 don't have empty shelves and so if we're unable to supply them with moose head for whatever reason

00:13:39.880 you'll be uh you know they'll they'll replace that shelf space with another brand

00:13:44.840 and it'll be hard for us to get that shelf space back what percentage of your customers are american

00:13:51.720 yeah about 15 of our output from the brewery here in st john goes to the us so it's a it's

00:13:57.960 a big part of our business and we've been we've been selling in the us now for 49 years coming

00:14:03.800 up on 50 years so it's it's a nice piece of business for us how are you able to continue

00:14:09.240 selling if it's not profitable like the 50 for instance well it's all about keeping the shelf

00:14:15.720 space that's how bad it is apparently uh apparently laura babcock and her guy pal

00:14:23.080 Charlie Angus are just going to drink all the excess moose head don't worry guys the economy

00:14:28.560 is safe because we have set elbows up enough we're going to be our own best customer and that

00:14:34.240 apparently means somehow we're losing construction jobs right now even though we're going to build

00:14:39.600 with Canadian materials and we're going to apparently drink a lot of booze apparently this 1.00

00:14:45.180 is this is how we're going to do it all stupidity this is all stupid the there's no strategy here 1.00

00:14:54.140 people saying well well trump's unreasonable so i'm not saying he's reasonable i'm saying that 1.00

00:15:02.500 failure to play the game is not a move here there is no the best move the only winning move is to

00:15:09.100 not play that's not the case in this particular time we need to figure out what's a good deal 0.98

00:15:16.320 what's a bad deal and how to drive towards a good deal now that sounds really stupid and simplistic 0.88

00:15:21.480 but it's because mark carney doesn't know what a good deal is he walked away from the last one 0.60

00:15:26.120 for incoherent reasons there were certain aspects of it i certainly probably wouldn't have signed

00:15:30.840 on to but they were only there because he was drawing red lines around things like china c18

00:15:36.360 c11 a supply management and other sorts of policies that he didn't want to give up

00:15:41.680 and and so we had a crappy looking deal that he was about to sign and then he walked away from it

00:15:47.740 didn't even continue talks just walked away completely and we're supposed to trust this guy

00:15:55.700 to get back to the table and sign something good he thought the bad aspects of the deal were the

00:16:00.460 things that 95% of Canadians who don't work in, like, supply management dairy and who don't work

00:16:07.300 in, like, the Canadian subsidized media, all of them would say, yes, acts at lower steel and

00:16:13.780 aluminum tariffs, lower auto tariffs. I am not an unpatriotic Canadian for being able to notice

00:16:20.520 that in this particular time, the U.S. is a bigger country than us, and they are a bigger economy

00:16:28.880 per capita than we are you can't inflict more pain on them than they can inflict on us and

00:16:36.240 every time we do it we're in fact just raising prices on canadians we are not doing ourselves

00:16:42.480 any favors here we're simply effectively politically signaling because carney is not

00:16:48.260 doing this because it's making people's lives better he is doing this for political reasons

00:16:53.640 Again, this doesn't mean, well, Trump good then.

00:16:56.780 This does not, it's irrelevant.

00:16:59.000 This is the situation we're in.

00:17:00.500 This is the situation he signed up to fix.

00:17:02.800 And since he's become premier or prime minister,

00:17:06.560 he's just been effectively avoiding his biggest campaign promise.

00:17:10.340 I'm going to get a deal with the United States.

00:17:12.140 Well, he's really good at walking away from deals.

00:17:14.280 He's really good at going to Italy in the middle of negotiating a deal.

00:17:17.940 He's really good at just ghosting the U.S. and refusing to come to the table.

00:17:21.900 okay he's proven he's good at those things now be good at signing good deals anyways with all that

00:17:30.060 being said thank you guys for watching the show today make sure to like share subscribe and again

00:17:34.860 if you live in the alberta provincial riding of calgary curry here i'm going to be trying to run

00:17:40.880 for the ucp nomination for that riding so if you want to support me and buy a membership for the

00:17:46.800 UCP to vote for me in the nomination. Go to the pinned comment at the top of the comments and

00:17:52.140 click wyattclaypool.com and you can sign up on the website and if you live within the boundaries

00:17:56.720 I'll try and make sure to give you a call and give you the lay of the land of what's going on.

00:18:01.080 Anyways so with that being said I'll see you guys all later.

The National Telegraph - Wyatt Claypool - September 10, 2026

Carney's Trade Strategy Blows Up In His Face - Trump Hits Liberals with Booze Ban!

Episode Stats

Transcript