Hub Podcasts

Trump is Mark Carney's first major test

May 6, 2025
Ed Fast, former Minister of International Trade in the Harper government, engages in a deep dive into the complexities of trade negotiations with the U.S. His insights highlight the unpredictable nature of the current administration's approach and its impacts on Canada. Fast discusses the challenges posed by CUSMA, including auto plant closures, and the urgent need for a robust framework to enhance trade relations. He also emphasizes opportunities for economic reform and modernization in Canada’s trade strategy, showcasing the importance of planning amid political fluctuations.
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INSIGHT

Trump’s Tariff Tactics

  • Donald Trump uses tariffs and economic measures as a negotiation tactic to force concessions from trading partners.
  • Understanding this approach is crucial for Canada’s negotiation strategy with the US.
ADVICE

Play Long-Term Negotiation Strategy

  • Avoid offering early concessions in negotiations with Trump’s administration.
  • Play the long game, leveraging the fact that the administration won’t be permanent and political pressures exist.
INSIGHT

Need for Stronger CUSMA Enforcement

  • The original CUSMA deal lacks strong enforcement and compliance mechanisms.
  • To protect Canada, dispute resolution must be robust and legally locked in to prevent unilateral US actions.
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