CANADA JUST CALLED TRUMP’S BLUFF

All right. Some pretty big news. Canada has put a 50% tariff on us in retaliation to the insane stupid tariffs that Donald Trump has placed on Canada says here the U.S. imposed 50% tariffs on some Canadian products on Saturday after trade talks between the two countries fell apart on Friday. In response, Canada said it would pose its own retaliatory tariffs, beginning on September 8th. Negotiations for both sides have been working on a deal all week at time signaling that an agreement was near. Donald Trump had postponed the original deadline of Wednesday just hours ahead of it being imposed saying that there were soon to be a finalized deal. Dominic LeBlanc, Canada's trade minister for the U.S. told reporters on Thursday that a deal was very close. However, both sides blamed the other for not reaching a deal as the tariffs impacting roughly 20 billion in Canadian exports, including wine, furniture, dairy products, cement, clothing, fishing rods, hockey equipment went into effect on Saturday morning. Hey, what are you doing, hit like, hit like, stop, stop where you're going and hit like, subscribe. It helps so much. It really does boost this into the algorithm. And we are live streaming this Tuesday at 7 PM Eastern. Come hang out. It's fun. I promise you, it's fun. And his senior business correspondent, Peter Armstrong, said there are going to be books written about what happened tonight. So no deal. What next? Honestly, this is maybe the worst case scenario, it was through the day today. We were debating whether the deal that we were all hearing rumblings and briefings about was going to be enough. Would it be good enough for Canadian businesses? I can tell you for certain that this development is not good. And it's not just the tariffs, Susan. The tariffs will be a disaster for the sectors that will be hit by them. They will, where these tariffs hit much like the ones we've been dealing with for 18 months, they will hit very hard, and they will be catastrophic for some businesses. But the collapse in talks might be even worse. And the injection of uncertainty that has now been brought to the fore in the Canadian economy that has been struggling and dealing with uncertainty for 18 long months and really having a hard time with that. This is much deeper. In a sense, too, that this isn't the end in terms of what could happen next. Because the U.S. was out first with its messaging saying that this would have been great for Canada and that it wanted more concessions. Of course, that's the U.S. side. Mr. Carney, the Prime Minister says it happened differently. And Mr. Carney now saying we're going to respond with dollar for dollar tariffs, which is a very from the Canadian side, steep escalation. Jameson, or an American official, tonight has said that if Canada retaliates, the President will be given options to level out the playing field yet again. So we're into this cycle where if Canada retaliates, the United States will retaliate to the retaliation, we would probably then retaliate further. And there's a key here, a key thing here, is there are no scheduled meetings. We don't have a sense of when they could get back to the table to try to put this back together. Next, did one senior business leader in Canada tonight to say how bad is this and his response was simple? Very. So what is the assessment from what you've been hearing from business leaders who were close to those talks, although not in the room, about what could have devolved here? It sounds. I mean, Kate McKenna had some great reporting through the afternoon about howard Lutnik and to a certain degree Peter Navarro had both been trying to scuttle the deal that was on the table. And Americans say there were new demands that kept being put in place by the Canadians. As best I've been able to learn there were three demands put in place by the Canadians as sort of a counter to the deal that was on offer from the United States. There will be books written about what happened tonight. And we won't have all the information tonight. We won't have it next month. We probably won't have it any year. But it is monumental. What has happened? Briefly wrapping up here, Peter, what do the people that are caught in these trade tariffs in Canada do tomorrow? Well, this is just it. There will be companies that had thought they had dodged this bullet, that 50% tariff on all of their products going into the United States. And the products that are targeted under these three, three, eight tariffs were not just chosen at random. They were chosen very specifically by the Americans to have maximum leverage, to have maximum impact, to try to divide sectors, to try to divide regions, to try to divide provinces. This is going to be felt most in Ontario, Quebec and BC, where the push back against a lot of these tariffs has been felt the hardest. And then you have to factor in all the other companies that are dealing with the ongoing two, three, two tariffs that they had been hoping that tonight they may get some relief. Governor Newsome said, our closest ally, our critical trading partner, and Trump is hitting Canada with 50% tariffs. What the actual F are we doing? You know it's serious when the politicians start saying the F word, you know, it's gotten really serious. Pete Buttigieg said, whether it's a trade war with Canada or an actual war with Iran, the pattern is the same, Americans are paying the price for the president's choices. I truly don't even know if Donald Trump is even involved in it, I really do believe Donald Trump is like playing house, like I don't think he's involved in any of this stuff. I don't think he cares. I think he just wants to make money. He wants to get attention and he wants to fucking put flagpoles in front of the White House. It's all he cares about. It's a stupid ballroom and creating monuments for himself. I truly don't believe that he's even really close to any of this stuff. I don't. Now, the Prime Minister of Canada was asked about Howard Luckton's involvement in the last days, and here's what he had to say. Was Howard Luckton's involvement in the last days an impediment to getting a deal? It's a question for the U.S. Administration, ultimately, ultimately, I'm responsible for the decisions of the Canadian government. We take it as a cabinet, but I certainly bear those responsibilities, and so the head of the U.S. Administration, the President bears responsibility for decisions they take. But I will say this, which is that the Canadian team, Unified, unified the individuals you see here, their team members are ambassador in Washington, my chief of staff, I've unified talking together the clerk of the privy council, everyone in the loop, everyone knows what our objectives are, collective decision making, as I say, ultimately, I and the cabinet bear responsibility for those decisions, but unity. You cannot say that about the United States Administration, and as a consequence, last point of your colleagues, and I think this is important, in these last few days, we were drilling down on specific issues where that might have been papered over the differences in the Administration, if there were indeed differences, ultimately, there's a decision maker at the top, and in drilling down on those, a number of those issues that I just referenced became very clear. I mean, one thing I'm watching that, don't you miss having like a leader that commands respect someone that comes across intelligent, someone that comes across as dignified, not a joke? I forgot what it's like to not have a clown in front of a camera. I'm so desperate, I know we have people who watch from Canada, I am so jealous that you have that, and we've got what we've got. Now, Mark Carney literally said this is like going to war. Why does it feel like today, Mark Carney is going to war, trade war, the tone, because we're attacked. Like, you're at war when you get attacked, we got attacked, US put 50%, I mean, waited until the United States decided to actually implement these so-called three-three-eight tariffs. That's fine. We've got the reserves, we've got the resilience, we've got the plan, we've got the focus, we'll respond, we're going to focus on what we can control, we're going to build. He also said that the US has miscalculated, here's how. Another prominent justification for US tariffs has been their claim that since the United States runs, quote, "a trade deficit with Canada, we were ripping them off," also a quote. But the US's narrow merchandise trade deficit only exists because the US buys so much of its energy from Canada. Canada fuels American growth, supplying 99% of their natural gas imports, 85% of their electricity imports, 60% of their crude oil imports. I don't think they want us to stop sending any of that energy. Now the US, as I said, full of idiots, Canada full of smart people, a dignified leader, someone who actually seems like an adult, responsible. Meanwhile, we have idiots like Jamie Sinner, who said that we're doing this because of Canadian aggression. What? Big news. So what do you expect to happen from here? Do you think trade talks will get back on track? Or will there be a pause here for a while? It's hard to say. We don't have new talks planned with the Canadians. We're moving forward with measures that respond to Canadian retaliation. Remember, as President Trump has introduced a trade policy to reshore American production, to protect American jobs, two countries have retaliated against the United States. The peoples are a public of China and Canada. And Canada does a lot of business with China? They do. They do. And they continue to retaliate. And after a year of that retaliation, we've said enough, and so we've taken countermeasures. Our interest isn't protecting American workers and protecting American supply chains. We've been offering commitments along. On that path, really to cut the tariffs on them, on steel, on tariff autos, even lumber, things that are sensitive for them. And they've always had the best deal and they still would have an even better deal, but they didn't want that. I'm just going to put an exclamation point on this because obviously that's not true. Like the only one who's been aggressive this entire time is Donald Trump who I'm just I'm just going to list the things off the top of my head, War of the Ron, Venezuela. What else did he do? Oh, South Korea, we stopped helping South Koreans recently. Study want to take Greenland started calling Canada the 51st state called their prime minister or governor. The only person who's been a bully and all this is Donald Trump across the world. I don't I truly don't know how long it's going to take to reclaim trust with other countries. It's certainly not going to be a four year exercise. I think we got to get through at least one non insane Republican president who actually wants to actually believes in small L liberalism. I don't know that's going to happen, but that's the only hope we have. Thankfully, folks are waking up though. Now I want to show you this because Tim Dylan talked about Trump and pointed out that he said he was going to stop the grift. All he did is redirect the grift to himself and keep in mind to Tim Dylan has a very is a very male, younger audience. So it's good. He's saying this stuff here. Trump comes down that escalator and in his campaign and in these debates, there's this idea that like, wait, this guy is breaking the fourth wall and telling everybody, hey, we've all fucked you forever. And here's how we've done it. And I'm going to stop doing it. And what happened instead, what happened instead was he goes, we're going to fuck you in a way you can't even imagine it. We're going to get over on you in ways that you can't even imagine the fact that it's going to be so blatant, so blatant that you're going to have to disassociate like a trauma victim. And if you speak to the people that are still really into the Trump thing, they're like trauma victims who've been like brutally raped or whatever assaulted or whatever, you know, they're trauma victims who've been through torture and they basically have disassociated and they've splintered off and created other personalities where everything's good. And that's what he did. He's like, it's going to be so blatant. It's going to be so in your face. It's going to be so reckless, whereas previously, there was like some care about like, yeah, we're going to fuck you, but we're going to try to like massage it a little bit, we're going to try to like give you the idea that we're not, you know, he's basically like, it's going to be such a blatant money grab these four years that you're either going to have to full on accept it and get on board or disassociate like a, like a victim of extreme trauma and basically walk around talking to yourself, muttering to yourself like a schizophrenic and that's what he's done. And we all are victims of trauma. I mean, we literally have farmers in Georgia, keep in mind, we need a whole Georgia, we need to make sure that John Ausef remains a senator, Donald Trump's making it much easier for us because farmers know that it's not anyone other than Trump who is f in them over. Here's one farmer's experience. Well, let's talk about it real quick. Right off, right out of the gate this morning, we got an announcement from the administration about, you know, cattle beef prices. They're going to import a bunch more box beef, ground beef, scrap cuts, what I call them. And hopefully bring down the price of ground beef in the store for you all. We've seen a market crash for live cattle, live cattle that people like myself grow and take to the, to the, you know, processing plants or go down through the system. That's dropped 40 cents a pound already just from that plant closure. Now this morning, the markets are crashing, but will your price change? So far, we have not seen that. We have not seen that. And at what expense to you, I'll tell you what expense to you. This is the opposite of what needs to happen. We're not going to retain heifers and build a herd when we can have, you know, the stroke of a pin drop our price to where we don't make a profit anymore. And honestly, that's where we stand. We finally began to make a profit and all hell breaks loose. People can't handle it, you know, I guess because beef is high in the store. I get it beef is high in the store. Look at what else is high in the store. Look at what's high for the rancher and the producer, fuel, land, labor, all of it. You know, you got a $9 latte, but $7, $8, $9 a pound for a ground beef is too much, right? Ooh, brother. I'm telling you, I was on your side, but oh man, yeah, I under, like there, I'm mad. They are mad. But yeah, I mean, I'm telling you right now, people who are upset about $8, $9 a pound beef are not buying $10 cups of coffee and tell you that right now. But this is just showing that Donald Trump has really, really fucked up the economy. Basically, I mean, is anyone shocked? He owned a casino. It went bankrupt. Okay. Is anyone shocked? He is literally treating this country like one of his failed projects and just to further point this out. 92% of counter ranchers in America voted for Trump. And he just bankrupted all of them because what did he do? He's letting outside beef come in. It's artificially dropping the price of beef, so it costs less for the American pair. But any fucking cattle rancher now who wanted to maybe, I don't know, make a profit on their product is not going to be able to. That's Trump math for you, baby. Congratulations. All right. Well, we're going to keep following all this. And this is just, it's only getting worse. I mean, can we survive two more years of this? Truly. Can we? I don't know. I do not know. I don't know. We don't have any allies anymore. Things are expensive. I mean, I guess the only, the only maybe silver lining in all this is that folks understand that it's not Democrats doing it. So hopefully we can win over in the midterms and we can carry that momentum into a win for the presidency. But it's not going to be easy. We have to make sure that they own all of this, they own all of it hanging around their necks. Okay. They're really good at changing the narrative. We got to hang this around their necks. All right. I'll see you soon.