Prime Minister Mark Carney has denied claims that he retracted his Davos remarks during a Monday conversation with U.S. President Donald Trump. Carney stated that he reiterated his Davos stance to the President, clarifying his position on global power dynamics. The prime minister also discussed various topics with Trump, including trade and the upcoming CUSMA review, emphasizing Canada’s proactive approach. These comments directly contradict statements by U.S. Treasury Secretary Scott Bessent, who claimed Carney walked back his initial comments.
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According to a recent report by the International Monetary Fund (IMF), Canada’s economy could see a nearly seven percent increase in real GDP, equivalent to $210 billion, by removing internal trade barriers between provinces and territories. These barriers act as a nine percent national tariff on average, with significantly higher rates in service sectors like healthcare and education. The report highlights that smaller provinces and northern territories are disproportionately affected by these costs, and that services, which constitute the majority of trade costs, were largely exempt from the recent agreement to drop trade barriers on goods. The IMF emphasizes that removing these barriers is a cost-effective way to boost productivity, strengthen economic resilience, and promote inclusive growth.
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IJB will be hosting a conversation with TSN’s Rick Westhead in Toronto on January 29th. The discussion will provide an unflinching look at the complexities of Canadian hockey culture. Tickets are available for those interested in attending.
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Volkswagen is reportedly reconsidering plans for a significant Audi factory in the United States, attributing the decision to President Trump’s automotive tariffs. The company’s CEO disclosed that these levies resulted in a $2.5 billion loss during the initial nine months of 2025. German investments in the US experienced a substantial 45% year-on-year decrease during the same period. Following Trump’s warnings of potential further tariffs, and growing global trade uncertainty, the price of gold reached an unprecedented level.
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The U.S. Ambassador to Canada is cautioning of potential repercussions to the continental defense pact, NORAD, if Canada doesn’t move forward with the purchase of 88 F-35 fighter jets. He suggests the U.S. would need to increase its own fighter jet presence in Canadian airspace to address threats. This would happen if Canada chooses an “inferior product” according to the ambassador, with the F-35 being more interoperable. Some experts view this as a political pressure tactic, while others acknowledge the importance of interoperability with the U.S. Air Force.
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Following a potential trade agreement between Canada and China, former U.S. President Donald Trump threatened to impose a 100% tariff on Canadian goods. This threat, posted on Truth Social, came after a deal was announced between Canada and China to lower tariffs on canola oil and electric vehicles. The move has sparked a diplomatic dispute, as Canadian officials deny pursuing a free trade deal with China. Earlier in his term, Trump had expressed support for a potential trade deal with China, demonstrating a shift in stance.
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China’s envoy to Canada stated that China and Canada share a common view on respecting Greenland’s territorial integrity and China’s interest in playing a constructive role in the Arctic. The envoy emphasized China’s commitment to respecting the sovereignty and territorial integrity of all nations, while experts noted a growing collaboration between China and Russia in the region, particularly in military exercises. While Beijing has shifted its focus to research, analysts point out that China’s involvement in the Arctic is also tied to dual-use technology and strategic interests, especially the Northern Sea Route. Despite this, experts suggest that China is no longer investing in the Arctic due to policy reactions from Arctic states.
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Trump threatens Canada with 100% tariff over possible deal with China, and honestly, the whole situation feels like a bad, repetitive movie. It’s the same old script, the same tired tropes, and the same predictable ending, or perhaps no ending at all, just a continuous cycle of escalating absurdity. One week he’s saying a deal with China is fine, the next, he’s threatening a trade war. It’s exhausting, frankly.
Trump threatens Canada with 100% tariff over possible deal with China, and the knee-jerk reaction seems to be “here we go again.” It’s almost as if he’s actively trying to alienate allies and isolate the United States.… Continue reading
In a recent social media post, U.S. President Donald Trump threatened a 100% tariff on all Canadian goods if Canada makes a “deal” with China. This follows a speech by Prime Minister Mark Carney at Davos, perceived as a challenge to U.S. policies. Trump’s statement came after Canada and China reached an agreement on electric vehicle and canola tariffs. The President warned of dire consequences for Canada if it allows China to use the country to bypass U.S. trade restrictions.
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John Q. Hosedrinker 
Matt Underwood