Will Carney's China deal kill the Ontario automotive sector? скачать в хорошем качестве

Will Carney's China deal kill the Ontario automotive sector?

Jim and Iain analyze Canadian Prime Minister Mark Carney's recent visit to China, framing it as a desperate bid to revive struggling sectors amid weak leadership and economic decline. During his trip, Carney struck a deal which included dropping the 100% tariff on Chinese electric vehicles, allowing up to 49,000 into Canada at an average import price of $35,000 in the first year with a plan to allow 70,000 vehicles per year by the fifth year of the agreement. Ontario Premier Doug Ford expressed outrage, warning it would flood the market, alienate U.S. allies, and devastate Canada's auto sector unless EV mandates and regulations are scrapped—potentially signaling the end of his support for Carney over rival Pierre Poilievre. The conversation critiques deep trade ties with China as a losing proposition, citing historical examples where nations like Brazil suffered economic devastation from unbalanced deals. China dominates global production in nearly every sector, having outcompeted foreign manufacturers (e.g., Mercedes, BMW, Ford). A joint Canada-China statement reaffirming commitment to a "rules-based multilateral trading system" via the WTO is lambasted as hypocritical, given China's alleged consistent undermining of WTO rules since joining in 2001. Other deals include lifting restrictions on Canadian canola exports (pleasing Saskatchewan Premier Scott Moe, though past promises went unfulfilled) and British Columbia's memorandum of understanding with China on modern wood construction to boost its beleaguered lumber industry—attributed to over a decade of poor forest management, restricted fiber access, and self-inflicted policies rather than external factors like U.S. tariffs. The hosts portray Canada as "at the begging bowl" due to prolonged weak governance, suppressing key industries like forestry and automotive. Overall, Canada finds itself in an inescapable dilemma: Ignoring China is impossible, but making it a primary trade partner pretty much guarantees Canada ends up with the "short end of the stick." The segment peaks with shock over Carney's statement during the visit—the first by a Canadian PM in nearly a decade—claiming the partnership positions both nations well for the "new world order," eliciting visible dismay from Moe and sparking global reactions amid broader geopolitical tensions, including climate pledges and unkept bargains. What do you think of the trade deal with China? Let us know in the comments.