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The Indicator from Planet Money

Canada's key resource against Trump's potential trade war

The Indicator from Planet Money

NPR

Business

4.79.2K Ratings

🗓️ 30 January 2025

⏱️ 12 minutes

🧾️ Download transcript

Summary

Canadians have a key leverage point if President Trump makes good on his threat to impose 25% tariffs: oil. We talk to a business journalist with the Canadian Broadcasting Corporation on why oil would be the "biggest arrow in the quiver" should Canada and the U.S. descend into a trade war — but only as a last resort.

Listen to CBC's Cost of Living with Paul Haavardstrud here.

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Transcript

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0:00.0

NPR. President Donald Trump is threatening to place a 25% tariff on imports from its two biggest

0:17.3

trading partners, Canada and Mexico. These tariffs could go into effect as soon as

0:23.1

Saturday. And on today's show, we're going to focus on how this news is affecting our neighbor

0:27.6

to the north. After the break, we'll talk with Paul Havershrued, who hosts a podcast and radio show

0:34.2

for the Canadian Broadcasting Corporation called Cost of Living. He'll explain why

0:38.5

Trump's tariff threat has a lot of Canadians, frankly, kind of freaked out, and how officials there

0:43.6

are bracing for a possible trade war. This message comes from Wise, the app for doing things

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in other currencies.

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Sending or spending money abroad, hidden fees may be taking a cut.

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With Wise, you can convert between up to 40 currencies at the mid-market exchange rate.

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Visit wise.com. TNCs apply.

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2:01.1

Paul Havershrud is a business reporter and host of the CBC's Cost of Living podcast, a show

...

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