00:00Derek, we've been talking this morning about the kind of surprise dissolution of these trade talks,
00:04what it means for Canada, what it means for the economy.
00:07But I do just want to ask you how Canadians are feeling this morning.
00:11I do get the impression we've treaded on the patience of our northern neighbor quite a bit recently,
00:17and we might be getting some pushback.
00:20I think that's accurate.
00:22It's really hard to fully summarize the national mood at 8.15 in the morning.
00:28But I think that you could probably say it's frustration, but not necessarily great surprise.
00:36I mean, everybody knows that there's a certain negotiating style that the Trump administration brings to the table.
00:44Brinkmanship is often a part of that.
00:46And we have seen on a number of occasions before talks between the U.S. and Canada specifically on these
00:53issues go off the rails.
00:54Last year, they were making progress toward a deal that would have lowered tariffs.
01:00This was in October.
01:01And then on a Thursday night, the president posted on social media that all the talks were terminated,
01:08and he was angry at that point, he said, about the Ontario government's Ronald Reagan ad.
01:13So I don't know that the level of surprise here is all that great.
01:18Derek, what happened so much as we know it?
01:20So these talks, you know, I checked in with Josh Wingrove, I think, around 10 o'clock last night.
01:24Talks were still continuing.
01:26Do we know what the particular issues were that caused these talks to break apart?
01:32And indeed, it seems like each side is pointing the finger at the other for walking away.
01:36Yeah, we don't know in the specifics yet.
01:39I think that a lot of that will emerge.
01:41But we've known all along that it will be difficult to solve the so-called Section 232 tariff issues.
01:48Those are the ones that deal with U.S. tariffs on autos and steel and aluminum.
01:55That's the big sticking point for Canada.
01:58What are you going to give up to get those tariffs lowered since the Trump administration is not going to
02:03take those tariffs to zero?
02:06As you said, each side last night accused the other of throwing in new demands at the last minute and
02:12sort of jettisoning the deal.
02:14So, you know, we don't know yet exactly what went on.
02:18But we know that we're going to get two different versions of what went on last night.
02:23Derek, I'm wondering if, aside from this issue, which is, of course, a huge issue,
02:28if the communication between the Canadian government and Washington has gotten any better.
02:31Because I know when I was talking to folks the first time around,
02:35I was actually getting calls from members of the Canadian government asking me if I knew what their effective tariff
02:41rate was going to be
02:42because Reuters seemed to have more information than they did.
02:44Have those lines of communication improved at all?
02:47Or is it still you don't know what you know until it's announced over Truth Social or in the room?
02:52Oh, I think the lines of communication have changed dramatically and, in fact, and gotten much closer.
02:59And, in fact, last night, you know, U.S. officials talking to us indicated that the talks, they weren't necessarily
03:06acrimonious.
03:07I mean, there have been weeks of meetings at the very highest level.
03:11Jameson Greer on the U.S. side, Dominic LeBlanc, who's, you know, one of the most senior cabinet ministers in
03:17Canada,
03:18responsible for this file.
03:20On the other side, Canada's chief trade negotiator.
03:23So, like, they're now talking.
03:25There's not, like, surprises between them, I would say.
03:29That's sort of a big change.
Comments