World Business Report Trump says trade talks with Canada 'terminated'
Oct 24, 2025
Mikhail Kasyanov, the former Prime Minister of Russia and a vocal critic of Putin, shares insights on Russia's economy amidst international sanctions. He discusses the significant impact of sanctions on Russia's oil revenues and budget, expressing skepticism about their long-term effects. Kasyanov also examines the limited influence of business leaders on Kremlin policies, emphasizing the disconnect between central bank actions and ground realities in the economy. His candid analysis highlights the challenges facing Russia in a turbulent global economic landscape.
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Trade Talks Scrapped Over Ad Dispute
- Trump publicly halted trade talks with Canada over an Ontario ad using Ronald Reagan's voice clip without permission.
- The move escalates after existing tariffs on Canadian steel, aluminium and other goods already harm cross-border business.
Ontario Autos Depend On US Market
- David Adams stresses Ontario's auto sector depends heavily on US duty-free access, with 85–90% of output sent south.
- Loss of seamless access would pose a substantial challenge for manufacturers in the region.
Canadian Business Shifts Supply Chains
- Scott Morrison describes shifting Canadian supply chains to avoid US-reliant suppliers like aluminium cans and US juice ingredients.
- He says businesses are actively sourcing from Brazil and Egypt and considering long-term domestic manufacturing rebuilds.