Frank McKenna, Deputy Chair at TD Securities and former Premier of New Brunswick and Canadian Ambassador to the United States, discusses geopolitical issues of the day in this monthly series hosted by Peter Haynes, Managing Director at TD Securities.
For relevant disclosures, visit https://www.tdsecurities.com/ca/en/geopolitics-podcast-public
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Frank McKenna, Deputy Chair at TD Securities and former Premier of New Brunswick and Canadian Ambassador to the United States, discusses geopolitical issues of the day in this monthly series hosted by Peter Haynes, Managing Director at TD Securities.
For relevant disclosures, visit https://www.tdsecurities.com/ca/en/geopolitics-podcast-public
Canada's New Prime Minister Joins Tariff/Sovereignty Debate
Geopolitics with Frank McKenna
53 minutes 17 seconds
7 months ago
Canada's New Prime Minister Joins Tariff/Sovereignty Debate
In Episode 63, the focus of discussions in on two main topics: new Prime Minister Mark Carney's early days at the helm of Canada, and tariffs. Frank discusses Carney's decision to travel to Europe before the US, a move that was criticized by Saskatchewan Premier Scott Moe, and the significant downsizing of the new Liberal cabinet, a move that was sure to hurt some feelings inside the caucus. Frank provides the pros and cons of choosing Carney or Conservative Leader Pierre Poilievre to represent Canada in negotiations with President Trump, and he debunks the recent claims by former Prime Minister Stephen Harper that Carney didn’t deserve credit for Canada's response to the GFC. In the tariff discussion, Frank dismisses Trump's repeated exaggerations about trade deficits equaling some sort of subsidy provided to Canada from the US. Frank counters that the existing trade deficit is not a subsidy that costs the United States jobs, instead it is a function of our abundance of raw material inputs that the United States imports from Canada. Frank also lays to rest any notion that Canada's dairy sector is not open for business with US suppliers; in fact, the US has yet to use up more than ½ of its dairy quotas with Canada since the 2018 CUSMA agreement set new free trade supply limits. Frank finishes with some ideas for Canada's government to meet its NATO spending commitments, and his belief in the need to keep momentum moving forward with respect to the elimination of intra-provincial trade barriers.
This podcast was recorded on March 17, 2025.
Chapter Headings
00:25 - Friendship Day in Colorado
03:44 - Carney's Cabinet and First Trip to Europe
09:02 - Carney or Poilievre – Who is Best Positioned to Negotiate with Trump?
14:28 - Carney on Taxes
16:41 - Harper on Carney's Contribution to Canada's GFC Response
19:03 - Two East Coast Premiers Retire – is this Coincidence?
21:12 - Trump's Exaggerations Used to Justify Tariffs on Canada
28:38 - Meeting NATO Defense Spending Target
36:24 - Understanding Dairy Quotas – Not Just a Canada Issue
48:08 - Is Momentum for Removing Intra-Provincial Trade Barriers Sustainable?
50:25 - Caught in the Blue Jays Vortex…Again
Geopolitics with Frank McKenna
Frank McKenna, Deputy Chair at TD Securities and former Premier of New Brunswick and Canadian Ambassador to the United States, discusses geopolitical issues of the day in this monthly series hosted by Peter Haynes, Managing Director at TD Securities.
For relevant disclosures, visit https://www.tdsecurities.com/ca/en/geopolitics-podcast-public
