Canada’s Role in a Shifting Global Order — with Mark Carney | Prof G Conversations

About this Video

• Video Title: Canada’s Role in a Shifting Global Order — with Mark Carney | Prof G Conversations
• Channel: The Prof G Pod – Scott Galloway
• Speakers: Mark Carney, Scott Galloway
• Duration: 00:47:34

Introduction

This conversation between Scott Galloway and Mark Carney, Canada's Prime Minister, explores Canada's role in the evolving global order, particularly concerning US-Canada trade relations and the impact of US tariffs. The discussion also touches upon Canada's economic challenges, housing plans, climate change strategies, and Carney's personal background.

Key Takeaways

• US Tariffs on Canada: The US has imposed tariffs on Canadian goods, including aluminum, steel, and autos, despite the USMCA/CUSMA trade agreement. These tariffs are causing significant economic strain on Canada. Negotiations for a new comprehensive economic and security relationship are planned post-Canadian election.
• Canada's Diversification Strategy: Facing uncertainty with US trade relations, Canada is actively diversifying its trading partnerships, strengthening ties with the EU and Asian nations. This includes exploring new trade opportunities for critical minerals and other resources.
• Canada's Economic Challenges: Canada faces significant challenges, including a housing crisis, the need for internal free trade, and adapting to a changing global trading system. The Prime Minister outlines plans to address these issues, including substantial investment in housing and infrastructure.
• Climate Change and Energy: Carney discusses Canada's approach to climate change, moving away from a consumer carbon tax toward market-based solutions and investments in clean energy technologies. Canada aims to become an energy superpower by leveraging its resources and technological advancements in areas like small modular reactors.
• Parallels between Brexit and US Trade Policies: The economic impacts of Brexit and the US's current trade policies are compared, highlighting similarities in trade disruptions, economic slowdown, and inflationary pressures. Both situations demonstrate the difficulties of rebuilding trust and trade relationships once fractured.