Hub Podcasts The future of Trump-Carney trade talks
May 7, 2025
Ian Lee, a professor at the Sprott School of Business, dives deep into the recent Trump-Carney trade talks. He emphasizes the importance of personal rapport in effective negotiations. The conversation highlights the complex challenges in Canada-U.S. trade, particularly for the automotive sector. Lee discusses the controversial claims regarding Canada’s trade standing and the necessity of public support to tackle critical issues like supply management and foreign investments. This dialogue reveals the intricate landscape of trade relations that could shape the future.
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Importance of First Meeting
- Ian Lee applauds Prime Minister Carney for meeting President Trump promptly after the election.
- Face-to-face meetings are essential to establish rapport before substantive negotiations.
Prepare Canadians for Trade Compromises
- Trump’s claim that Canada might become a 51st state is likely a negotiating tactic, not a serious proposal.
- Carney should prepare Canadians for tough compromises on issues like supply management and telecom.
Tough Negotiations Ahead for Auto Industry
- Negotiations with the Trump administration are expected to be difficult and prolonged, possibly extending beyond 2026.
- Trump's consistent stance against the Canadian auto industry could lead to its decline, similar to Australia's exit from car manufacturing.