June 20, 2018

Ian Lee: Trudeau can't hurt Trump in a trade war

Ezra LevantRebel Commander

On last night's show, Ian Lee, Associate Professor at the Sprott School of Business, joined me to discuss the US/Canada trade war.

Ian explained that the results of this trade war would be devastating for the Canadian economy, Canada needs the United States far more than they need us and we're too small to inflict any damage.

For decades Trump has been vocal about his concerns with America's trade deficit and the exodus of manufacturing jobs, his plan to address the failures of multiple administrations spoke the concerns of the rust belts states that abandoned the Democrats.

Trudeau needs to understand that Trump is serious about these issues and must reach a deal before entering Canada into a trade war it will certainly lose. 

Comments
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commented 2018-06-21 13:14:32 -0400
Liza Rosie: PET in his “Just Watch Me” proclamation declared Martial Law on the entire country for a Quebec based crime.
Should Jihadi Justin reckon that stealing the election is not enough to keep him in power, watch for a similar stunt based on the failing Canadian Economy. And who’s going to stop him? Parliament? The Police? A Canadian Prime Minister is the closest thing to a dictator within a democracy with no checks and balances evident in other nations, such as the U.S. The profligate spending of tax monies on himself betrays a certain arrogance of continuance to power by himself.
commented 2018-06-21 02:43:53 -0400
And I see the “Canadian peso” finished the day a bit lower again on the markets…
commented 2018-06-21 01:31:21 -0400
I say bring it on. A lot of people in Ontario voted for Justin , now they can be sacrificed for Quebec.
commented 2018-06-20 23:43:20 -0400
Start the count down to the end of Confederation. End of Free Trade coupled with the effects of an onerous tax on everything know as Carbon Tax. Federal revenue is going to drop like a stone. The Federal welfare for provinces will collapse. The only questions in the years following are how long before the West succeeds and whether Ontario want to down with the confederation or go with a
free market western Canada. Is it any coincidence that almost all the protected industries are centred for the most part east of Ontario. Industries most headquartered in Toronto and Montreal. Is it any coincidence that one province accounts for more than half of the Federal subsidies for business. Baby Doc Trudeau is playing to his base, the Ontario civil service urban elites in the 416 Metro Toronto, Ottawa inside the Greenbelt with all the takers in Quebec and Atlantic Canada. And these clowns that voted for him and his brand of social justice (suicide) don’t understand that 38% of our GDP generated from exports to the U.S. For the Yanks exports to Canada account for 6% of their GDP. As Dr. Lee pointed out, in a trade war we will me crushed. Delicious is the irony that Mr.Trump is about to deliver on Jean Crouton’s Red Book promise and scrap free trade. P.S. Where is Andrew Shill, oh kicking out of shadow cabinet one Maxime Bernier, the only MP in the Commons who seems to get what is actually in play economically for all Canadians. Dr. Lee points to Harpo, Mulgoon, Crouton etc as possible saviors. But they are all part of the same political class that gave use Free trade Canadian style. That it is only for the middlemen, and not the masses. Sorry Dr. Lee, you’re a great economist, but I don’t hold out much hope of any them making things better for average people. Subsidies and quotas that increased prices got worse. Apart from the end of the Wheat Board, nothing changed. They didn’t anything when they were power. They couldn’t even get free trade inside Canada. Now that being said everyone go back to being a good Canadian peasant by paying more for everything (telecommunications, food, gas, financial services) and accept less choice because we as Ezra call them “The Fancy People” say it is so.
P.S. To all who think we have free trade, why am I as a consumer forced to pay for TV channels I don’t want in the name of Canadian culture. Why can’t I buy what I want from the US (Net Flix) or why I can’t I watch or read what I want tariff free in this supposed free country. Oh wait we have to protect all the urbanites in the cultural welfare industry, especially Rogers You in Toronto and Hell Teleglobe Media in Montreal and Hellus and PShaw in Vancouver. Producing heavily subsidized magazines, t.v. and movies nobody wants. Why do Canadian Banks through their U.S. operations sell their American customers loans along with 25 and 30 year fixed rate mortgages at lower rates than their Canadian customers. And yet American banks and insurance companies are barred from sell those products directly to Canadians. A barrier that to limits competition is as bad as tariff for Canadian consumers.
Doesn’t exactly sound fair or free trade does it. When did paying too much and having less choice become the definition of being a Canadian Patriot?
commented 2018-06-20 23:05:47 -0400
“Besides, a full blown recession would allow him to seize control avoiding any electoral embarrassment in 2019 in a quest “to save the nation””
How so Rick. By then Canadians will see the prosperity to the south and will be feeling the pinch of a recession. Wouldn’t that make people want to throw him out?

ANDREW MIRLACH, congrats on your job find in the States. I expect there will be quite a bit of brain drain south where oil and gas aren’t dirty words.
commented 2018-06-20 17:47:39 -0400
Rick I think you are correct .
commented 2018-06-20 16:39:16 -0400
Jihadi Justin and Chrystia with the red dress on did not make a “mistake”. It was deliberate. Trudumb figures this will boost his popularity, especially with stupid Lieberal voters. Besides, a full blown recession would allow him to seize control avoiding any electoral embarrassment in 2019 in a quest “to save the nation”, and his power at the same time, more his power and perks. We see this with the unabashed spending on the Harrington Lake residence and the calls for replacing the PMO jet.
commented 2018-06-20 15:20:06 -0400
Anybody else remember the “Canadian peso” days when it was down to 68 cents U.S.?.. Well, it slid down to 75 cents yesterday so here we go again…
commented 2018-06-20 14:20:15 -0400
Trudumb and company are clueless . Hello depression . Well at least you will have milk to drink when you get dry mouth from smoking your pot and cheese when you get the munchies . ENOY .
But I’m sure Harper is to blame , just not sure how they will spin it .
commented 2018-06-20 14:17:47 -0400
Trudeau=the f*cking idiot that thinks he can go toe to toe with President Trump.
What a fricking ‘Maroon’ as my favorite rabbit would say.
Trudeau is the epitome of evil and is in fact Satan incarnate.
He does not give a damn about Canada or Canadians. The only thing he cares about if becoming a hot shot at the UN, which is the seat of Satan.
Trudeau thy name be Beelzebub.
commented 2018-06-20 12:47:15 -0400
Yeah… I have already found an oil related job in the US where the unemployment rate is around 3.6%. Likely as low as it can get.

Butt-Man’s side kick, the Boy Blunder, True-uhh-uhh-DOHHH!!!… Has blocked all pipelines to Tidewater, Energy East and is now pissing off our ONLY other customer? He never will be “ready”. So we need to be. Find ways to protect your assets and employment from the coming Canadian depression.
commented 2018-06-20 11:40:36 -0400
Justin Trudeau. … https://www.youtube.com/watch?v=FyM8NVl4yBY … .You had better start cleaning the boilers in your flock of F35’s, You are going to start more than just a trade war. Canadians do not need to bring on the clowns, we have one already.