TLDR

Tariffs Averted! What Happens Now?

Feb 5, 2025

Trevor Tombe, a Professor of Economics at the University of Calgary specializing in international trade, joins the discussion on the intricate dynamics of trade relations between Canada and the U.S. He shares insights on the ramifications of tariffs and the challenges posed by interprovincial trade regulations. The conversation highlights the importance of diversifying trade partnerships and the economic impacts of a fluctuating Canadian dollar. They also embark on a personal challenge to buy only Canadian-made products, illustrating local support amidst trade tensions.

20:21

Creator website

Episode guests

Trevor Tombe

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

The potential tariffs from the U.S. could lead to a $160 billion decline in Canadian exports, resembling a medium-sized recession.

Interprovincial trade regulations in Canada create significant barriers, inflating costs by up to 15% and hindering economic growth.

Deep dives

Impact of Tariffs on Canada

The recent announcement of tariffs by the United States on goods from Canada and Mexico is expected to create significant economic uncertainty. Initially set at 25% for most goods and 10% for energy, this move raised alarms about a potential trade war, especially after Canada’s retaliation. Economic experts warn that the impact could be severe, with estimates suggesting a potential $160 billion decline in demand for Canadian exports, resembling the scale of a medium-sized recession. The unpredictability regarding how long these tariffs might last adds further to the anxiety for Canadian businesses and investors, making planning increasingly difficult.

Intro

2min

Impacts of Proposed Tariffs on Canadian Trade

2min

Economic Impacts of a Weak Canadian Dollar and Rising Uncertainty

2min

Navigating Tariffs and Trade Barriers

10min

Exploring Local Buying Amid Trade Tensions

3min

Trade war, no trade war, trade war, no trade war. On this week’s TLDR, economist Trevor Tombe joins the team to talk about a week in geopolitical whiplash, and where it leaves the Canadian economy. Plus, we go deep on one of the internal challenges hobbling our country’s economic prospects: interprovincial trade regulations.

This episode was hosted by Devin Friedman and business reporter Sarah Rieger. Follow us on other platforms, or subscribe to our weekly newsletter: linkin.bio/tldr

The TLDR Podcast is offered by Wealthsimple Media Inc. and is for informational purposes only. The content in the TLDR Podcast is not investment advice, a recommendation to buy or sell assets or securities, and does not represent the views of Wealthsimple Financial Corp or any of its other subsidiaries or affiliates. Wealthsimple Media Inc. does not endorse any third-party views referenced in this content. More information at wealthsimple.com/tldr.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

TLDR

Tariffs Averted! What Happens Now?

Episode guests