Episode Details

The deadline for a new US-Canada trade deal has passed—and there’s no agreement? In Episode 187, Bill breaks down the latest in the ongoing US-Canada trade conflict, as Trump’s tariffs on Canadian goods imported into the US jump from 25% to 35%. While 90% of products are still covered under CUSMA, key sectors like steel, lumber, and auto parts are being hit hard.

Prime Minister Mark Carney and his administration says “no deal is better than a bad deal”, as Canada’s negotiating team returns from Washington empty-handed. With talks stalling and pressure rising, PM Carney is now pushing for a long-term plan to reduce our dependence on the U.S. Bill explains what this means for US-Canada trade, why this week’s failed talks matter, and how the latest round of tariffs could impact the Canadian economy—and your wallet.

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This episode was recorded on: August 1, 2025

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CHAPTERS

00:00 Introduction to Current Trade Tensions

00:55 Impact of Tariffs on the Canadian Economy

03:13 Canada's Response to U.S. Trade Policies

05:09 The Importance of Economic Diversification

07:03 Consequences for Key Industries

10:21 Future Economic Outlook and Consumer Impact

FURTHER READING

Viable trade deal wasn't on the table ahead of deadline, Canada-U.S. trade minister says: Business groups raise concerns but say 'no deal is better than a bad deal'

https://www.cbc.ca/news/politics/reaction-trump-tariffs-canada-deadline-1.7599650

The 35% tariff kicked in today on Canadian goods. How big of an impact will it have?

https://www.cbc.ca/news/business/what-in-canada-is-subject-to-35-per-cent-tariff-1.7600029

Five things now pricier in Canada due to tariffs

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