Hilarious Bloomberg interview with Commerce Secretary Howard Lutnick. The topics are European trade and politics combined with the overlay of Canadian trade and politics. The Bloomberg panelists question Lutnick about the similar “feelings” of the Europeans and Canadians, as it pertains to the outcome of trade discussions. It’s the feelings that make things difficult to negotiate.
Secretary Lutnick doesn’t dismiss the narrative but deconstructs the substance of the topic brilliantly. Lutnick notes the ridiculous nature of the Canadian trade position and their decision to go running to China because their feelings are hurt. Lutnick then affirms the USMCA is going to be dissolved mid-summer and fall of this year.
As we noted at the end of last year, splitting the USMCA into two bilateral trade deals, one for Mexico and one for Canada, will be one of the most interesting and long-term economically significant moves in U.S. trade history. It is going to be a lot of fun to watch these negotiations, and the pre-positioning gives us a preview of what is to come.
Mexico is doing everything almost perfectly in preparation for their bilateral deal. Canada is doing exactly the opposite and positioning themselves for the worst possible outcome of a deal with the USA. The disparity in approaches is so different, even now it is remarkable to watch. PROMPTED:
(VIA BLOOMBERG) – […] Canada has “the second-best deal in the world” with its access to the US market, Lutnick said, behind only Mexico. The Commerce chief also indicated that Canada’s tilt toward China could become an issue in talks over revamping the US-Mexico-Canada trade agreement known as USMCA.
If Ottawa opts to import Chinese electric vehicles and other trade-strengthening steps with Beijing, “do you think the president of the United States is going to say you should keep having the second-best deal in the world” during USMCA talks, Lutnick questioned.
[…] Canada’s Finance Minister Francois-Philippe Champagne told reporters in Quebec City that every Group of Seven nation is charting its own strategic path forward with China, and Canada is no different.
“We’ll continue to work hand in hand with our US partner,” he said. “At the same time, I think Canadians have understood by now that diversification is key. We need to be more resilient.”
Mexico’s President Claudia Sheinbaum said separately Thursday that her nation will work to maintain the USMCA trade deal despite recent disputes between Carney and US President Donald Trump. Speaking at her daily press briefing, she also said she would try to talk with Carney.
Next week, Mexico’s Economy Minister Marcelo Ebrard will travel to Washington for trade talks, Sheinbaum also said, speaking in Puebla, Mexico. (read full article)
Having travelled to regions of the world in discussions with people who factually determine economic outcomes, it is clear that every single policy shift undertaken by the Canadian government of Mark Carney is exactly the opposite of what is needed. In the next 24 months, the lifestyle of every Canadian will forever change.
President Trump is reestablishing an entirely new economic, trade and finance system. The era of the Marshal Plan is over; it has been factually deconstructed in the past 12 months.
Canadians and Europeans are desperately trying to offset the ramifications, hold on to their economic benefits and find a new mechanism to afford the domestic indulgences now eliminated by President Trump and the absence of money.
The EU and Canada have chased ‘climate change’ and ‘green energy’ schemes into a dead end of economic crisis. German Chancellor Merz has admitted the problem to the world. The direct and collateral damage is generational, and only just now beginning to surface.
When combined with their intransigent resistance to adapt to President Trump’s global economic and trade reset, core issue “reciprocity”, this reality takes both economies down a path that becomes a self-fulfilling prophecy.
Choosing to embrace China in lieu of modifying bilateral trade agreements with the USA is a short-sighted fool’s errand. Unfortunately, with political calculations each entity, Canada and/or the EU collective, are pandering to their “feeling” base out of an unwillingness to change trade behavior as demanded by Trump.
From Ottawa to London, to Paris, Berlin and Brussels the geopolitical landscape is changing permanently as President Donald Trump resets their global trade relationship to the United States.
President Trump is leveraging the largest consumer market in the world to the benefit of the customer; that’s America. Trump’s direct and specific intent is transactional, to rebuild an industrial and self-sufficient nation that is the envy of the world.
For several generations, Canada and the EU have exploited their biggest customer and taken the U.S. for granted. Both the EU and Canadian economies are stalled and soon to be shrinking. The USA economy will easily grow above 5% GDP and Mexico is likely to be the biggest beneficiary of their proactive positioning.
It’s not about ‘feelings’ it is just the cold reality of the economics.
“Feelings” instead of facts is why we are in the position we are and I, for one, am very tired of having my country and my finances manipulated so as to protect people and industries that refuse to do the necessary work to succeed!
Very valid feelings!
🤣🤣🤣
Most men are naturally risk managers.
Most women are naturally emotional managers.
Trump is managing risk. Canada and the EU collective are managing emotions.
Managing risk protects societies. Managing emotions destroys societies.
“Canada and/or the EU collective, are pandering to their “feeling” base out of an unwillingness to change trade behavior as demanded by Trump.”
I call BS on your “naturally emotional managers”
what a crock
Too bad you feel that way.
Amjean,
“most” was your hint there are exceptions to the assertions.
However, I can also interpret your comment as being a clever and subtle joke, and I get the joke. The joke would hit better if it was obvious you are female.
It’s how liberals, progressives and leftists operate based on “feelings” and ideology not facts!!! JMO
Yep!
Canadians still in Jotards world “We choose truth over facts,”
estrogen poisoning
One has to wonder when a new campaign pledge will be made to secure our northern borders?
Personally think the northern US border is a far bigger problem then the southern US border. What is not being openly admitted by pretty much everyone is the biochemical war being waged against the US by Canada and it’s newest bestest buddy China. Look at the high number of Fentanyl ODs occurring daily in most US cities and understand that poison is being manufactured in Canadian labs with imported Chinese chemicals. Yes we have generally closed off the drug trafficking from the south, but based on the continued high number of Fentanyl ODs happening daily, that garbage is pouring in from the north. Let’s not kid ourselves. Canada could shut down the labs if they wanted to. Its obvious the Canadian government is complicit in this biochemical war.
And the communists are waging biological warfare against with fast reproducing infectious agents..
Minneapolis’s imune system has succumbed completely.
Canada’s only growth industries will be fentanyl, child trafficking, woman trafficking, and moving cash from the US to Canada. Snow Mexicans will be a NarcoTerrorist state with CCP meddling.
It is..We live 5 minutes from the U.S. border close to your I 5.
Our media seldom talks about it but our organized crime syndicates run a significant number of politicians.
Something like 11 federal members of parliament had direct influence from China.
Cheers
It’s an old chestnut from the fire, but they have a readymade workforce with all the draft dodgers and hippies they welcomed into their country in the ‘60’s.
I have a feeling that I do not care about the feelings of Communists in Canada and Europe!
Oh, one of the worst songs ever scratched onto paper!
We laughed at it constantly! The oh-so heartfelt kitschy syrup!
Was just looking this up.
Thanks
I listened to an Afghan college student warble that song in a college talent show. Off-key, many passages of tremulating voice. He hard a lot of heart. No matter about the effort, many of the students’ feelings were aroused, and they clapped and barked like trained seals.
The band I was in wrapped up the show, and wrapped up the votes. Our fellow students were humming and singing one of the songs we performed for a couple of weeks after. Yeah, I have good memories of feelings vs competence.
Or ‘he had a lot of heart’.
Damn phone keyboards.
I was expecting imagine
Bishop Barron’s brilliant take …
Leftists make every decision based on feelings.
Practicality or consequence never enter their calculus.
Enjoy your feelings, you fools.
Rather, they have no real feelings except for the lust for power and control over us!
They manipulate the third-rate feelings of their followers to perform the evils needed to ruin America and turn us into a 10th-rate England.
Yes. That’s really the root problem with a democracy, rule by people, emotional people, whereas a constitutional republic is the rule of law. If we can keep it.
First you “hear” it. Then you “feel” it. Finally you “see” it.
The Left-wing Libtards never get past the “feel” it. It is all “emotion” for them and that’s the end of it. Reality has no meaning for these People.
Once many in our society accepted psychology as an idol, feelings became more important than God’s wisdom.
✝️🦅
This is where we are with much of our societal and political upheaval – when feelings replace actual thinking.
Ayn Rand said it in her 1961 essay, “The Objectivist Ethics:”
“He (Man) is free to make the wrong choice, but not free to succeed with it. He is free to evade reality, he is free to unfocus his mind and stumble blindly down any road he pleases, but not free to avoid the abyss he refuses to see. . . . Man is free to choose not to be conscious, but not free to escape the penalty of unconsciousness: destruction.“
Boy, that sums it right up!
“splitting the USMCA into two bilateral trade deals, one for Mexico and one for Canada, will be one of the most interesting and long-term economically significant moves in U.S. trade history. “
I literally can’t wait for this and have been pining for it a very long time.
Just when one thinks it’s time to put away the popcorn, someone “important” from Canada named Finance Minister Francois-Philippe Champagne chirps up about yada yada yada. What’d he say? Who cares, pass the popcorn. It’s getting good.
Francois-Philippe Champagne? Gotta be a stage name.
He’s probably Herbert-Alfred Smith, or somesuch.
Just a dumb Socialist Marxist Liberal FROG !
Being Just another Carney Cabinet member CLOWN 🤡 .
Sounds like a “Pierre Delecto” kinda guy.
deleted by OldDog –
I may be stepping on a “third rail” here, but the Lutnicks of the world do indeed have another “gear” that most of us don’t have, and when it’s applied for our team’s benefit, it’s an amazing thing to behold.
Nobody gets everything they want, but President Trump’s current team is delivering +90% for me, and I can say is, God bless ALL of them.
We have 2 dream teams…. one in finance the other in statecraft….legal team has been pretty disappointing comparatively speaking….. Hope the 1/2time talk fixes things….or goes to the bench…..
Well let’s hope we deliver in the midterms, or the wonderful train may derail.
I love to read these articles! The fake useless non accountable swamp hearings, judiciary (useless) rulings, not so much. Trump and Co is a huge ray of sunlight.
The hearings in Congress are all theater. The Circus part of Bread and Circus. Kind of like watching interviews on CNN or watching the View. Waste of Time.
But also, to each of them I would just say this:
(1) “Continue to be proud of [your_country]!” Continue to press, above all else, for the citizens who live there! In other words: “[your_country] FIRST!”
(2) Then, be realistic about the fact that “one size does not fit all!” The notion that “Canada” and “Mexico” are in any way “comparable” simply reflects the laziness of a treaty-maker!
But I’ll still circle around to the notion of “FIRST!” As Trump recently stated in the “National” document, every country with which we do business should be expected(!) to treat itself “FIRST!” Maybe Mexico is trying to do that, but I certainly don’t see that Canada is doing so.
And, that means a whole lot … to a whole lot of … their CITIZENS! They have every right to demand: “What about me?! What about us?!”
>> “They have every right to demand: “What about me?! What about us?!””
Uh huh, And with the trucker strike they got their answer: “You ain’t worth s**t; but we will the use the power of your government to take your stuff and throw you in prison, because you annoyed us.”
Yeah, Canadians, go ahead and demand away. A fat lot of good that will do.
All the vital force for Canada to treat its people first seems to be funneled into the people running Canada feeding their own egos first. And likewise, their own pocketbooks.
Canada is like the US if Harris would have won. You saw what Spanberger did in a day in Virginia. That is happening in spades in Canada.
But I understand that important events are occurring in regard to the thruckers peaceful convoy. Litigation has handed down rulings that may overturn the evil.
Seems Canada may still have a few faithful judges on their benches.
Do not get your hopes up. Freedom has been killed in Canada and the Judges ruled it was illegally killed. Nobody else has made a comment about it except for Lich and Barber.
Fellow Albertans, here’s where and when you can sign the petition calling for Alberta to leave Canada and become an independent nation-state (with its own national hockey team, I expect):
https://stayfreealberta.com/how-and-where-to-sign
And, don’t worry. It’s too big to rig.
https://sheldonyakiwchuk.substack.com/p/alberta-separation-too-big-to-rig
If Alberta goes
The rest of Canada is
LOST !
As in the total DESTRUCTION of its economy.
Alberta must be a serious thorn in the side of the globalist commies in the rest of Canada.
” In the next 24 months, the lifestyle of every Canadian will forever change.”
If the Democrats win the House this November , and unfortunately historical statistics say they probably will, in the next much less than 24 months, the lives of “every” American will “forever” change.
Stripping healthcare away from poor independent and Republican voters who are U.S. citizens in 2027 when they get sick and lose their jobs over it was not a smart thing to do for the GOP to do with respect to the next Presidential (and House) election in 2028. You try to tell them but their elevator buttons are controlled by their corporatist funders who view these voters as disposable so the elevator never gets high enough to sustain the gains.
While I acknowledge the health care issue as a substantial issue, the taxpayer not paying for someone else’s insurance isn’t “stripping it away”. Allowing the insurance carriers to dump the inconveniently insured is something that needs to be resolved. BTW, I’ve rarely been insured for my fairly long life, and accept the consequences of my choice to not buy it.
Unfortunately, how the narrative of this issue is framed cannot be ignored. The uniparty has no intention of doing anything about it, because it’s great political theater. Plus it has the side benefit for them of blaming Trump- or at least weakening him.
You’re sharing your personal beliefs on the morality of subsidized healthcare. I’m talking about the GOP alienating voters below the poverty line (presently 45%-50% of independent voters and about 13% of Republican voters are below the poverty line) by removing them from all subsidized healthcare after 01/01/2027 when they get sick and lose their job (they become ineligible for both Medicaid and the ACA per the “big beautiful bill”).
So it’s apples and oranges. Even if everything you believe is true, surveys with these people show that as they discover they are left to degenerate into frailty or total disability when they are stricken between jobs or lose their job over becoming stricken they state they will no longer vote Republican.
I’m talking about winning elections, not the moral arguments around whether or not poor people who’s economic opportunities were offshored en masse while foreign replacement labor was insourced en masse by the uniparty have a moral right to subsidized healthcare when they are stricken with medical problems.
Your side needs to count more votes to win elections. Capesh?
The Dems are beginning to make Carney look farsighted and reasonable. Not a good omen for anybody, especially Dems.
“Win” Installed through cheating.
We’ll see.
The Canadians and my home staters of Minnesota seem to be born of the same dna. Dumb and doubling down on dumb, because we are smarter than the rest.allegedly..
Alberta appears to have a different make-up of citizen by comparison to Ontario, Ottawa, BC, etc…
Yes…
There has been a bunch of cheating in Minnesota elections. And many of the top officials are Communist Constructs from out of the State and out of our country. Crooked elections have consequences. I do not live or watch the Virginia elections but it is hard to understand that the people voted for a CIA cutout named Spanberger that puts VA worse off than CA.
Terry, back a couple decades when MN still had the GOPe control of the legislature they are always so spineless and cowardly to fix any of the election fraud. They could have eliminated Motor Voting, added voter ID but no that would hurt the feelings of the DFL.
There were many conservative issues they could have pushed but those issues were never moved through committees. MN doesn’t have conservatives running anything. They have a GOPe party that is weak and squishy. Pretty much useless.
Was talking with one of my brother’s who still lives in a northern Mpls burb and he said that Jesse Ventura is thinking about getting in the race for governor because he was so successful the first time around. It would surprise me a bit if won again. He is a slimy worm out for himself with the veneer of populism. In reality he’s just another marxist fraudster.
Somebody in power had better start doing something about cheating in elections or it might cost them their job.
Sad that intelligence and wisdom aren’t inherently interwoven.
What’s not being recognized is that if the Democrats take power, they will undo everything.
Bingo.
And our challenge is to make sure they never again do take power.
All we have to do is make elections honest again. Democrats cannot win on ideas.
Bingo! Honest elections democrats done.
For several generations, Canada and the EU have exploited their biggest customer and taken the U.S. for granted.
Because the uni-buzzard has made it possible.
Sounds like the EU and Canada are going through the five stages of grief over the loss of their free American money flow.
If they can’t get through the denial, depression, anger, endless bargaining & on to acceptance, they are in for a lot of problems. The anger part seems to be the dominating stage they live in.
If only they knew what they had and treated it more responsibly they wouldn’t be in this situation.
Doogiesblog, your last sentence will apply to the US as soon as the dems get back in.
Gen X Snow Mexicans Aye…
My favorite character in these movies, especially the sequel “Strange Brew”, was their dog “Hosehead”.
I like Harold Lutnick, I think there is a reason he made so much money with his company. He is a very intelligent person and a great representative for MAGA, despite being a democrat until recently. He has a grasp of economics that the Davos crowd misses completely.
There was a video of Howard where he told of his wife and him visiting wounded veterans from the Iraq war. He would go in and talk to the guy in the hospital bed and give him a CD player with some music. Meanwhile, his wife would take the family out in the hall and give them a check for their mortgage for a year. I found that incredibly generous, but I sent that video to a leftist friend, and he could not believe it was true and said nasty things about Lutnick. It is so sad that ideology blinds people to kind deeds. I still like Howard, no matter what lefties say.
Gentle question, why are you still friends?
It is a reasonable question. We have been friends for 25 years and I can disagree with him on politics. I forgive him his trespasses.
Nice to know that – thank you.
I hope the Administration hurrys up. The Donkeys and their sycophants are braying about how bad the economy is and I don’t see much in the way of successful countering of that argument.
By shutting down nuclear power, the immensely clever Germans increased their energy costs by a factor of 10. Brilliant!
HOW DARE YOU PUT A PRICE ON MY FUTURE !! 😝🥳🥴🤪
She’s such a useful idiot.
Mark Carney does what King Charles tells him to do.
They still don’t realize that the British Imperial system is dead in the US. The ‘Great Game’ is done.
Poor Canada.
And yet another election is in the works for Canada so Carney can get his majority.
And the idiot voters will give it to him I’m sure.
I detest the country I live in.
We have an election this year too. We hope good things for you and Canada and for us down here that we can get the GOP to do something to help our president!!
Sometimes tyranny is so strong the only solution is to flee it. Some decide to stay and fight it but usually others do not join in until other people’s money is almost gone. Iran is a good example and Cuba too.
And when there’s no where left to flee?
These people are insufferable. They were stuck on “maybe the message from the Trump admin is correct but why does the tone of the message have to upset us and hurt our feelings?”.
These people have been so used to looking down their smug noses at Americans that they cannot conceive that we are done with their unearned sense of superiority and “how dare you speak to me in that tone of voice” victimhood.
PDJT could cure cancer make everyone a millionaire and they would still complain about him.
Secretary Lutnick is a shark swimming among minnows. Dispatched their emotion based arguments with a smile on his face.
Most impressive, watching him expose the failed global banker Carney as the fool he is along withe rest of his cohorts leading Canada off the cliff.
Well said.
Ever since I read Howard Lutnick’s sad but amazing story of how he developed when he was young, I have been fascinated by his courage and depth of true compassion and morality. This man is a rock. I would love to see him as president. His ‘backstory’ wipes the floor with Vance’s and he has the money to fund himself, kowtowing to nobody.
What happens when a Democrat wins in 2028 and reverses everything back to the way it was in 2024?
None of these trade agreements is permanent.
When was the last time the Democrats won in a honest, non-rigged election?
Therein lies the problem – we don’t have honest elections anymore.
Vital to understand Fangdog, everything is fraud especially voting.
So the EU and Canada’s feelings are hurt. Wa Wa Wa. Sometimes, the truth hurts. Suck it up, Buttercups.
US Commerce Secretary Lutnick impressed me from the beginning when he was being sworn in with his wife and family standing with him. His grown son was introduced as the young boy who saved Secretary Lutnick’s life when he asked his father to drive him to his first day of school. That wasn’t the plan…so his father didn’t get it….hemmed and hawed….and then said okay. They were driving along the river to the school and saw a plane hit the twin towers right where his own business was housed. As the CEO of the business, he lost 600+ employees out of 1000 but he also lost his own brother. President Trump knew him then and knew him as Howard Lutnick turned and cared for his employees who had suffered so much as President Trump has tried to do and has done for the people of the United States.
Those two men are happy warriors. We are blessed to have them as our leaders. Thanks for the reminder of Secretary Lutnick’s backstory. Some men are truly MEN. Thanks to both of them!
Do Europe and Canada own alot of US treasuries? Aren’t they due soon? That’s what keeps the US debt of 38 trillion possible if there are buyers. Could that be Europe’s and Canada’s leverage against the USA?
All foreign held Treasuries are just under 4 Trillion. Of that, 3612.7 billion is held between the UK, Belgium, Canada, Luxembourg, France, Ireland, Switzerland, Norway, and Germany.
https://ticdata.treasury.gov/resource-center/data-chart-center/tic/Documents/slt_table5.html
Some of those Treasury Securities have shorter maturation, while others are longer. There are also certain terms associated with transferring some of them. Not a large amount of leverage being some 9.5% of the debt. More like cutting off their noses to spite their faces.
Two things I consider re: Canada and China:
China is no longer obtaining crude from Venezuela. It needs another source: Alberta.
Canada does not need EVs that don’t work in -20s+ temperatures, as we can see occurs regurlarly in Canada. Perhaps I am wrong about this?
“China is no longer obtaining crude from Venezuela. It needs another source: Alberta.” – how will land locked Alberta get
the crude to China?
A small request. Please do not use the name of Jesus Christ as a pejorative. Thank you.
Not small…
Fewer Canadians and fewer Europeans want to come to the US? Why am I not crying?
We don’t want them here anyways….. the interviewers are so full of themselves.
We have long established that leftists are morons and driven to vote entirely by feelings and have no left brains at all. Consequently, they will destroy their economies and blame America! Panda is rolling on the floor laughing😀
He’s such a lovable wolverine. 🙂
He really is. I love listening to him speak.
Canada’s mistake with Trump 45 on first USMCA was to use congress as leverage against him and so he had to put the current deal in place. They tried going to congress again this time and I think it hardened his resolve against them. He’s always clear that if you want a deal then come to him and talk. He doesn’t forget when you try to weasel around.
Talking about being backed into a corner and bringing a knife to a gunfight. The EU and Canada have put themselves in an indefensible position having catered to the Climate Loons and open border crowd.
We might find ourselves voting to reverse all our momentum in a couple years, so I’ll celebrate the wins now and pray for my delusional brethren.
“Mexico is doing everything almost perfectly in preparation for their bilateral deal. ” See Peter Schweitzer this AM on his reporting about the 53 (!) Mexican consulates in the US working to “take back” CA, AZ, NM, CO, KS, etc. First thing POTUS should do in his negotations with Mexico is shut down all but one of them.
If only this effort could be applied to the “trade deal” our domestic “non-productive” residents have! Having so many “dependents” on our productive society is nearly at a breaking point.
I’m feeling sad 🙁 for the Canadians. We too were sooo close to ruin with Kamala and Tim.
I hope they can find their own Trump, rediscover Christianity and take advantage of their country’s God given potential.
Wishing the good Canadians all the best.
“Having travelled to regions of the world in discussions with people who factually determine economic outcomes, it is clear“
It’s always been apparent that Sundance was sharing us glimpses of the inner workings of men and women who are made of steel and willing to work for America.
Thank you Sundance! For the last decade, this site has truly seemed like The Last Refuge!
Having visited a few providences in Canada, it is no surprise that Alberta wishes to succeed. There remains an air of European elitism in the French speaking provinces. The Albertan is as close to an American as could be in Canada. I hope Alberta pulls the plug, attains independence, gets the BEST deal of any other nation, and begins to thrive with their friends to the South!
Hopefully someone in the media will talk about what Sundance explained about the China buying the carbon credits.
Meanwhile, I did a search on BYD and Tesla.
The Tesla product looks more like it should cost 10,000, and the BYD cabin features are luxurious, they should cost more.
As long as the Mexican government is fomenting revolution in the US through their 53 consulates we should not be giving them a good deal.
It’s too bad that my state of Michigan as well as most of the other EU loving Communist run blue states are intent on pursuing the same insane “green” policies of the globalist loons unto the absolute destruction of their “constituents” lives and livelihoods.
How can we reverse this wanton, senseless destruction?
MAGA!!
They are leaders of a country. Why the hell do feelings need coddling?
Watched an Atlantic hosted PBS Davos round up on NATO etc
4 left-tards in expensive suits, criticizing Trump’s offensive communications style, crushing the feelings of Canadians and Europeans
The Atlantic Host, opened by stating Trump was right on everything, but hurts feelings
To help add additional context to things involving Bloomberg News and it’s owner Michael Bloomberg, they are huge China Inc. advocates as well as supporters of all that comes with the Belt and Road strategy of BRICS (via China Inc.).
Howard for the WIN!!! What a happy warrior with an ability to face these negative inquisitors.
During the Reagan years I was in a discussion with a Leftist over some issue now long forgotten. After all these years what I do remember is a statement he said to me: “Don’t confuse me with the facts, I know what I feel.”