ACTUAL NEWS: Weekly Recap 🇨🇦 Edition
- Olga Nesterova
- 4 minutes ago
- 9 min read
April 5th, 2025
MOMENTS OF THE WEEK
During his so-called “Liberation Day” announcement, President Trump unveiled a sweeping set of tariffs on 180 countries—excluding Russia, Belarus, and a handful of others. The move was framed as a push for “reciprocity,” though the basis for the tariffs appears highly questionable.
Trump didn’t miss the opportunity to take a jab at U.S. allies, especially Canada.
“We subsidize a lot of countries and keep them going and keep them in business,” he said, specifically calling out Mexico and Canada. “Why are we doing this? I mean, at what point do we say you got to work for yourselves?”
Despite the rhetoric, the tariffs appear to be largely bogus and economically ungrounded.
They seem to have been calculated by simply dividing the U.S. trade deficit with a given country by the value of its exports to the U.S.—a method that defies economic logic. It’s akin to walking into a store, buying something, and then demanding the store pay you to "keep it even."
In short: the math makes no sense, and the global consequences could be severe.
As a result, the markets took a nosedive.
Familiar with diving—and now, apparently, with tariffs—are the penguins. President Trump and his “dream team” administration have managed to slap tariffs on the adorable, tuxedoed residents of Heard Island and McDonald Islands, the only inhabitants of those remote, uninhabited territories.
This is how, according to the White House Press Secretary, Trump's team came up with this "genius idea".
All in all, economists have called the tariff calculations “idiotic and flawed.”
And yet, President Trump didn’t seem to have a single worry in his body as he spent the weekend golfing away at Mar-a-Lago.
Meanwhile, Prime Minister Carney addressed the nation with a powerful statement
Former Prime Minister Justin Trudeau has passed the torch to Marjorie Michel—his former deputy chief of staff and the daughter of a former Haitian Prime Minister—who is now running in his former Papineau riding.
Prime Minister Mark Carney got “hot-called” in the wildest way — mid-rally, a woman stood up and yelled, “Lead us, Big Daddy!” And yes, the moment was everything.
Meanwhile, Donald Trump–enthused Pierre Poilievre called Canada the 'Fentanyl Capital of the World.'
THIS WEEK IN HISTORY
1776: The first of thousands of United Empire Loyalists fleeing the American Revolution arrived in Halifax.
1871: The first census of the Dominion of Canada listed the population as 3,689,257.
1949: The North Atlantic Treaty Organization (NATO) was formed, with founding member nations including Belgium, Canada, Denmark, France, Iceland, Italy, Luxembourg, the Netherlands, Norway, Portugal, the United Kingdom, and the United States.
1999: Created this day in 1999 by carving a vast region from Canada's Northwest Territories, the Canadian territory of Nunavut stretches across much of the Canadian Arctic and encompasses the traditional lands of the Inuit.
QUICK ACTUAL NEWS
The East Block of Parliament Hill in Ottawa was placed on lockdown on April 5, 2025, after a man barricaded himself inside. Police evacuated the area and secured the perimeter. The Parliamentary Protective Service issued an emergency alert, advising people to stay inside and lock doors. Police surrounded the building with vehicles, and a bomb squad may be involved. A robot was used to handle the situation, and access to the area was restricted. No injuries were reported, and authorities are treating the incident as a potential worst-case scenario. Due to the upcoming federal election, Parliament is dissolved, and the area is mostly inactive.
President Trump urged his fellow Republicans in the U.S. Senate to vote against a measure rebuking his tariff policy, linking it to the fentanyl emergency he declared involving Canada. 'Republicans in the Senate MUST vote to keep the National Emergency in place,' Trump wrote in a post on his private social media platform. However, the measure ultimately passed, and Trump vowed to veto it once he gets the chance.
Mexico and Canada avoided fresh tariffs on Wednesday with President Donald Trump exempting the United States' top trading partners from his new 10% global tariff baseline, although previous duties remain in place.
Sweeping tariffs imposed by President Donald Trump on Wednesday are expected to drive up the cost of cannabis products in the U.S., as many companies rely on Asian manufacturers. The new levies will be added to existing duties on imports from China, Canada, Mexico, and the EU.
Prime Minister Mark Carney announced that Canada would retaliate against U.S. President Donald Trump's 25% auto tariffs by imposing similar tariffs on vehicles imported from the U.S. Carney stated that he informed Trump of Canada's plans during a phone call the previous week. He emphasized that Canada’s measures are designed to maximize impact on the U.S. while minimizing the effect on Canada. Unlike Trump, Carney said Canada would not impose tariffs on auto parts, recognizing the importance of the integrated auto sector. Carney also noted that Canadians are already beginning to feel the impact of these tariffs.
Automaker Stellantis has announced a temporary halt in production at its Windsor assembly plant in Canada and Toluca assembly plant in Mexico following President Donald Trump's 25% tariff on imported vehicles. The production pause, which will last through the weeks of April 7 and 14 in Canada, and throughout April in Mexico, will result in the temporary layoff of 900 U.S. employees. Additionally, the company will temporarily halt operations at several plants in Michigan and Indiana. Stellantis emphasized that these actions are necessary to adapt to the new market conditions created by the tariff policy. The company plans to monitor the situation closely to determine any further actions.
European NATO allies and Canada have expressed willingness to increase defense spending but are cautious about U.S. President Donald Trump’s demands for a 5% military budget commitment. Despite a significant increase in defense spending by U.S. allies following Russia's invasion of Ukraine, nearly a third of them still fall short of NATO’s target of spending at least 2% of GDP. While NATO leaders have acknowledged Russia as the primary threat to security, Canadian Foreign Minister Mélanie Joly questioned the need for escalating defense spending without a clear consensus on Russia's threat level. The U.S. was projected to spend 3.38% on defense last year, the only NATO member whose spending has decreased in the last decade.
Amid significant cuts to U.S. health agencies under Health Secretary Robert F. Kennedy Jr., Canadian provinces and institutions are stepping up to recruit American scientists who have lost their jobs. Agencies like the CDC, NIH, and FDA have seen massive layoffs, including top public health experts. Canada is well-positioned to attract this talent due to its strong research base, although challenges remain in translating discoveries into clinical treatments. Provinces like Manitoba and British Columbia are actively working to recruit displaced professionals, and universities like McGill are expecting a surge in job applications.
However, while the U.S. workforce reduction presents an opportunity for Canada, experts like Dr. William Ghali from the University of Calgary highlight the need for better research funding to maintain Canada's competitive edge. The country’s research funding per capita is much lower than the U.S., which could hinder long-term success. Despite these challenges, experts agree that the situation could offer Canada a chance to expand its global partnerships and strengthen internal research collaboration.
Please find a comprehensive summary of the latest global news in the daily newsletter.
Farm Equipment Sales Hit by Tariff Uncertainty
At a recent farm show in Canada, equipment salespeople faced a tough environment, struggling to close deals with farmers worried about potential tariffs. With some combines priced over $800,000, even a surprise price hike due to tariffs could significantly affect farmers' already tight budgets.
While Canada was spared from the Trump administration's global tariffs on April 2, it still faces tariffs on steel and aluminum exports to the U.S., as well as on cars that do not comply with the United States-Mexico-Canada Agreement (USMCA). However, Canadian farmers remain unsure whether agricultural equipment will be subject to these tariffs or Canada’s retaliatory duties. Sorting out these details could take weeks, and uncertainty has already impacted equipment sales.
Farmers across Canada are showing hesitancy toward purchasing new combines, tractors, and other machinery. The uncertainty surrounding tariffs is particularly evident in Saskatchewan, where the country’s spring wheat, canola, and durum are grown for export. Bill Prybylski, president of the Agricultural Producers Association of Saskatchewan, noted that farmers in the region are cautious about capital spending, especially with looming tariff concerns.
At the farm show, many farmers kicked the tires of combines, seeders, and sprayers but few made purchases. Manufacturers also share in the anxiety, worried they may be caught with expensive stock impacted by tariffs. Derek Molnar, marketing director for Degelman Industries, a rockpicker manufacturer, explained, "We have a lot of balls in the air right now and we don't really know where they're going to land." Due to this uncertainty, some farmers like Gunter Jochum of Manitoba are choosing to hold off on purchasing new machinery and are opting to extend the life of their current equipment.
The broader impact is being felt across the industry. In March, Case IH, a major agricultural equipment manufacturer, announced layoffs in North Dakota and Minnesota, reflecting the uncertainty in the market. According to Kip Eideberg, senior vice president at the Association of Equipment Manufacturers, about 30% of U.S. agricultural equipment is exported, with Canada being the largest foreign market. Eideberg warned that tariffs could disrupt supply chains, raise costs for manufacturers, and jeopardize tens of thousands of jobs.
Local manufacturers, such as Honey Bee in Saskatchewan, also face challenges. General Manager Jamie Pegg said his company may need to scale back production to avoid excess inventory, which can be financially detrimental. "Inventory is something that kills you," he added.
For Canadian machinery dealers, the situation is creating a "terrible environment for business," according to Nancy Malone, vice president of the North American Dealers Association. She is lobbying the Canadian government to prevent retaliatory tariffs on U.S. farm equipment, but, for now, the industry waits for clarity on the evolving tariff situation.
Truckers' Protest Organizers Found Guilty of Mischief in Ottawa
Tamara Lich and Chris Barber, two key organizers of the 2022 trucker protests in Ottawa against COVID-19 restrictions, were found guilty of mischief by an Ontario court judge. The protests, known as the Freedom Convoy, were sparked by a vaccine mandate for truck drivers crossing the U.S.-Canada border. Lich and Barber played central roles in encouraging protesters to remain in the city, despite the negative impact on local residents and businesses.
While they were acquitted of charges such as intimidation and obstructing police, Barber was convicted of counselling people to disobey a court order regarding truck horn noise. The defense argued the protest was peaceful and blamed disruptions on police and local officials. The protests, which clogged Ottawa's streets for weeks, caused significant disturbances with constant horn honking and diesel fumes.
MEME OF THE WEEK
CAMPAIGN TRAIL
Liberal Party Leader Mark Carney | Five Leaders, One Election
Conservative Party Leader Pierre Poilievre | Five Leaders, One Election
POSTS OF THE WEEK
NEWS CLIPS - NO COMMENTARY
How Yukon's premier is targeting Musk in response to Trump tariffs | Hanomansing Tonight
‘We will build a new Canadian economy’: Liberal Leader Carney
Elon Musk says he hopes for zero tariffs with Europe someday
Canada warns of U.S. border officers' power to search electronic devices
President of EU Commission addresses US tariffs
Putin’s envoy in DC: Russia has been misunderstood
Trump complains about Biden economy, NAFTA and says we will “boom”
(US) Republican Congressman quotes Joseph Goebbels in hearing
Ontario Premier Ford: President Trump calls tomorrow Liberation Day. I call it Termination Day
...and for those who could use a bit of humor.
ELECTION UPDATE
RECOMMENDED READ
MADE IN CANADA - AN UPDATE!
Are you a small/medium business owner in Canada?
I’m working on the MADE IN CANADA series, spotlighting the incredible stories of Canadian businesses navigating the challenges of the unprovoked tariff war.
The series will focus on sharing the stories of a variety of business owners, who will also have the opportunity to ask a question to reputable policymakers and government leaders.
On April 8th at 8pm ET I will host an introductory Google Meet call to share the details and answer your questions. If you are interested to join,
COVER PHOTO
ANNOUNCEMENTS
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