On February 1st, President Donald Trump signed an executive order titled “Imposing Duties to Address the Flow of Illicit Drugs Across Our Northern Border.” The order calls for a 25% tariff on virtually all Canadian goods imported into the United States and a 10% tariff on Canadian energy products, starting February 4th. In response, Prime Minister Justin Trudeau imposed 25% tariffs on C$155 billion worth of American goods coming into Canada, with C$30 billion starting February 4th and the remaining 21 days later.

On February 3rd, after this podcast was recorded, President Trump and Prime Minister Trudeau agreed to pause the tariffs for at least 30 days.

To help us understand the escalating trade war, we welcome the Honourable John Manley to the podcast. For over a decade, John served in the Federal Government as Canada’s Deputy Prime Minister, Minister of Finance, Minister of Foreign Affairs, and Minister of Industry. He is currently the Chairman of Jefferies Securities Inc., a member of the Board of Directors of TELUS, and a Senior Advisor at Bennett Jones.

Here are some of the questions Jackie and Peter asked the Honourable John Manley: What are your thoughts on the abrupt turn in US - Canada relations? What else should Canada be doing at this point? What are Canada’s energy vulnerabilities in this dispute? Does Canada have emergency measures it can use? Should Canada boost spending to support businesses and people, and does the prorogation of parliament limit these options?

Content referenced in this podcast: 

• John Manley’s Op-ed in the Globe and Mail, “Dear Donald Trump: Your plan to create ‘the United States of Canada’ is brilliant” (January 15, 2025)
• The Main Project 25 Document Published in April 2023

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