Furious Canada Punches Trump in the Face in Asia

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3:06Ben Meiselas:Canada is furious and it is showing the world a masterclass in how you punch back against Donald Trump. Trump continued over the weekend to rant and rave like a lunatic against Canada. Oh, I'm imposing another 10 % tariffs on Canada because I did not like that Ronald Reagan ad that they were airing during the World Series. That's cheating. That's AI. No, it's not AI, Donald. That's Ronald Reagan's words, by the way. And let me show you what Canada's doing to punch back. So you have Prime Minister Carney, the Prime Minister of Canada. He's also at the ASEAN conference that's taking place right now in Malaysia.

3:50Ben Meiselas:And he gave an incredible speech. And he was kind of mocking Donald Trump and Trump's regime and what the United States has become under Donald Trump as well. I want you to watch as Prime Minister Carney addresses the crowd here at the speech that he gave. And he was like, maybe I should give a American level boast about how good Canada is doing now. Watch this moment. Let's play it. I think the first is just to get across the scale of ambition in Canada. right now. We intend over the course of food security, we mentioned food security, Ken cites as your one-stop shop for food security with Nutrien globally, and that's actually not an exaggeration, it happens to be true.

4:40There you go, first boast of the evening.

4:46Secondly, it's enormous, enormous food. I'm just warming up for my American level of boasting. we are going to double our non-U.S. exports over the course of the next 10 years. We think we can do it in a much shorter period of time. That's$300 billion of additional exports. Most of that is going to come from Asia in our view, and I'm going to justify that in a second. But on top of this, and I just underscore this because this is a two-way relationship, our expectation coming out of the budget is that we're laying out a path for at least half a trillion dollars of additional investment in Canada in the next five years.

5:24Additional, not total, additional. And that's U.S. So these are orders of magnitude that start to be relevant. Areas, both in terms of the two-way trade and the domestic investment, we're basically going to build out the infrastructure to help drive energy, energy corridors, both clean and conventional, trade corridors, new port infrastructure and others. but from LNG, where we're putting ourselves on a path to at least 50 million tons by the end of this decade, but double that by 2040, potentially more. It's easily done when you have the fourth largest reserves of LNG in the world and you have demand here for the energy transition.

6:08To nuclear, a few days ago, I launched with my good friend, Premier Ford. Did I say good friend, Premier Ford? I said the always entertaining, no, the always interesting, the always unpredictable Premier Ford. Yeah, God, sorry. I don't know why I mixed the two up, President and Premier Ford.

6:29Ben Meiselas:But would Prime Minister Carney continue to stress while he was in Malaysia, whereas Donald Trump was out there whining about the escalator at the United Nations and the teleprompter at the United Nations not working from like was a month ago, still whining about that. That, by the way, was the fault of Trump's own staff still whining about that. Prime Minister Carney is saying, I want everybody to know that Canada is a reliable trading partner and we have ambitious goals. We are looking to move away from the United States in terms of our trade, but I want people to remember Canada is reliable and we're looking for reliable partners.

7:13Ben Meiselas:And that's a strong message that the United States is not reliable. Here, play this clip. Back in on the reliable partner and values, because as I said on the stage, you need a partner who respects the letter of agreements. We are that partner, but also the spirit of agreements and the values underneath those agreements. And we do believe in rules-based law. We believe in the values of sustainability, inclusivity, solidarity, partnership. But I am going to quote, and I tested our ambassador to ASEAN earlier, and she's going to sing along, the words from the ASEAN anthem, which I know you all know, but just in case, I didn't actually this morning.

8:01But two of the key lines that stuck with me is that in ASEAN, we dare to dream and we care to share. And so Canada dares to dream big. We have laid out, we're laying out a trillion dollars of investment opportunities over the course of the next decade in the U.S. And we dare to care. Sustainability, inclusivity, and in partnership, the ASEAN anthem, everyone after me. Later on, there'll be a, after this reception, there'll be a short karaoke where we'll have a chance to sing it together. But thank you for being here. And we look forward to the partnership and to showing up.

8:40Ben Meiselas:Now, this was from the earlier meeting that Prime Minister Carney had, where he was interviewed in front of the crowd at the ASEAN convention. And he was asked, do you believe that Canada is in a crisis right now based on what the United States is doing? And I just want you to watch how calmly Prime Minister Carney deals with this. He goes, yeah, I mean, it is. the rules-based order that we came to expect has changed. And what we used to view as our strengths, free trade with the United States has become a vulnerability, but we can adapt and change and move away from the United States. Here, watch this.

9:23Is this a crisis in Canada? Is it going to help you reduce the barriers between provinces? Yes, it's a crisis because it's a fundamental change in many of the operating, I was going to say assumptions, but the operating rules of the system. I mean, the reliance on the global, open global trading system, a reliance and an expectation of further integration, particularly in North America. I mean, that's not going to happen. That doesn't mean there isn't still going to be a fair bit of free trade in North America and across investment, but this sort of relentless process of greater integration has reversed.

10:05That's a big change. And when you have a big change like that and you had your economy oriented towards that, which ours was, some of your strengths become vulnerabilities and you have to do big things. And so one of the lessons we've talked about this, many in the room have lived it. I've certainly, by luck I would like to say, not because of cause, I didn't cause the crises I've been in, but my experience of being in them is in a crisis, you have to be bold. You have to act big. Uncertainty weighs down activity, and unless you're leading from the center, whether you're a central bank with respect to supporting financial institutions or monetary policy, or you're a government in terms of charting a new course, you need to be bold.

10:53And that's why we're looking for scale in terms of diversification of our exports. That's why our budget, which is coming out in two weeks' time, is going to have what we call generational investment in Canada on an order of magnitude that really changes the scale of the economy, the ambition of the economy. Of course, it will also, just by its very fact, provide GDP and growth and jobs for Canadians. But as important as that is, more important is going to be a reorientation of the country and very much an outward looking orientation that I think is very complementary to ASEAN.

11:32Ben Meiselas:This was part of the conversation that Prime Minister Carney had at the ASEAN summit, where the way he describes what the United States has become, it's brilliant. And he goes, you know, the way I guess the United States sees itself is not as a reliable partner, but as though it's like a country club where if you want to have any dealings with the United States, you need to pay a fee to even have a relationship with the United States. And Carney's like, that's not what we're doing here in Canada. We focus on free trade and we're going to focus on strengthening our relationships with our other allies.

12:13Ben Meiselas:Here, play this clip. The United States has a new trade policy, but it applies to every country, every jurisdiction in the world. We understand that and we respect that. It is a major shift, and the way we're framing it is it's a rupture, not a transition. This is a very big change, almost overnight, and therefore it's difficult to deal with. It can be difficult to deal with, but everybody's dealing with it. That's the first. The second is if your economy is highly integrated or certain sectors are highly integrated with the United States, revealed preference, to use a fancy term, is that you will pay a price to keeping access to that market, either in the form of tariffs, changes to some domestic policies, commitments for investment.

12:59Different countries have done various versions of that. What you should try to avoid doing, though, is tying your hands about what you can do with other jurisdictions. Because that is, there are a lot more countries by GDP that are willing and keen to continue to have relatively open trade. certainly to have rules-based trade to respect rules-based trades to have um and and it's that is happening in parallel to these sharper changes so you get a sharp change in the relationship with the u.s as the president uh has said and i understand this i respect it he said it me sitting next to him we are going to charge countries for access to the u.s it's like access to a good country club i think he might have said or costco to put it out of the way i think he thinks more on country club than Costco.

13:55We understand it. It is the premium market. It's the most dynamic economy. You decide what you're willing to pay, but at the same time, you want to be in other clubs. You want to be at other tables. You want to be building that out. And I said I would make a point about the European Union. I think it's quite relevant for ASEAN, or if I may broaden it a bit more towards CPTPP. Some members are part of that. These are two large trading blocks with not identical but complementary approaches to trade and there is an opportunity it's something it's a point i've made it's a point some others and cpcpp have made there is a possibility of of bringing those closer together having a at a minimum a docking between the two blocks or or broader arrangements that there and that's how you start to rebuild a broader global trading system, you're approaching more than a third of global trade there, potentially 40 % depending on how you do it.

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16:39Ben Meiselas:Prime Minister Carney then talks about how free trade and how the theme of the ASEAN Summit, and I don't think this is a coincidence that this is the theme of the ASEAN Summit, which is the Asian South Asian Summit, is inclusivity and sustainability. Two things that Donald Trump is not for. Trump is not for inclusivity and he's not for sustainability. And the ASEAN conference was literally called inclusivity and sustainability. I don't think Trump or his regime even realizes what a troll that is. Here play this clip. Look, first, just to give a bit of context in terms of our ambitions, and they are large.

17:23We laid out last week that we want to increase our non-U.S. exports by 50 percent within the next decade, shorter time frame than that. It's about$300 billion dollars to give context to that. We would expect that a substantial proportion of that will come from ASEAN. And it's one of the reasons why we're looking to complete the free trade agreement with ASEAN within the next year. And I met with both, obviously, and I want to pay tribute to Prime Minister Ibrahim for his chairing of ASEAN. Great success this year. So I met and discussed with him but also with uh next year's chair president marcos and make made that a priority so asian will play a an important role in that as well we will pursue a series of bilateral fdas and as it happens again with the philippines we decided today that we would accelerate both we would pursue a free trade agreement but on an accelerated basis between canada and the Philippines.

18:30We have a free trade agreement with the EU. We have one. We are, of course, core to CPTPP. In fact, we have free trade agreements with 15 jurisdictions around the world, two-thirds of global trade. Now, some of those free trade agreements operate a little more predictably than others. No prize for guessing which ones. and our strategy is to broaden and deepen with those partners who believe in rules-based trade who are complementary to us and who share the same values because in the end you can write a lot down in terms of trade agreements you know trade agreements well they're about this thick there's a number of negotiators I can see near in the in the front row here and business people who rely on the letter of the law, but it's also the spirit of it.

19:20And having the interests aligned, I'll finish on this, which is, I found it interesting coming into ASEAN this morning, as I walked in, the banners, the neon banners were with the themes of ASEAN this year, which is inclusivity and sustainability. So it's growth with inclusivity and sustainability. is very recognizable for Canada and our approach. And that's the type of partnership that will help us realize that diversification.

19:52Ben Meiselas:And here are the concluding remarks by Prime Minister Carney. Very powerful indeed. Let's play it. Are there big things you think are going to change? Well, I think it's, I will quote our host, our ultimate host, the Prime Minister this morning, which is where's the effect of the old world or the old system is gone the new one has not yet formed and so it's a it's a big question and it's an important question because in many respects those of us in this room will help determine where that is and and what we were talking about earlier is Canada free trade with ASEAN, CPTPP with EU, that link becoming there, following through on inclusivity and sustainability.

20:43The extent to which we actually follow that through, this room literally and metaphorically will help determine the direction of the global economy or a substantial proportion of the global economy. And because it's ASEAN, because it's dynamic, because it's forward-looking, because it's young, that sort of shows where the world is going. And so I think it can be incredibly influential. And we're out of time. Thank you, Prime Minister Mark Carney. Do join me in a huge round of thanks to Mark Carney, Prime Minister of Canada.

21:20Ben Meiselas:Now, turning to the leader of Midas Canada, Charlie Angus, who's leading the Midas Canada resistance tour, which is filling up packed auditoriums across Canada. You may have seen Charlie Angus at one of the Midas Canada stops. It's incredible the amount of energy we're seeing out there in these Midas Canada town halls. Here's what Charlie Angus said to me about Donald Trump's behavior and how Canadian press is very out of touch, the same way our corporate presses and how Canadian press was like, isn't it very un-Canadian of us, though, to run ads featuring Ronald Reagan's voice? And Angus is like, why would that be un-Canadian?

22:08Ben Meiselas:Donald Trump's out there posting AI videos of himself taking diarrheas on the American people. Like, why would us playing Ronald Reagan's actual words be un-Canadian? Here, play this clip. Well, Ben, wherever I travel, you know, we've been taking the Midas town halls across Canada. I am seeing such a determination. And it started off, I think people were defensive. They were freaking out. It's like, what are we going to do? These guys are coming up for us. And now people are saying, we're done with them. You know, we saw the absolute collapse of the American spirit market, the wine industry disintegrating 97%.

22:43That shows what people power can do. But the upside is, I was just talking to a winery in Ontario, selling Ontario wines into Norway for the first time. We're taking advantage of this. What's really concerning to Canadians is the disintegration of the rule of law south of the border. The disrespect Donald Trump shows not just for us, but for his own people. And, you know, I did a Canadian interview today and they said, well, don't you think it's very on Canadian that we interfered in their country? Blah, blah, blah. Clutching the pearls. I said, this is a guy who showed a video, an AI video of him dumping diarrhea on his own citizens.

23:20This man is not worthy of any office in any land. So the fact that he's freaked out that we showed a video that just had Ronald Reagan speaking shows that he's not trustworthy. People are not going to be expecting him to live up to his word. And it's forcing all nations, whether they wanted to or not, to look elsewhere. And so Canada's looking elsewhere.

23:44Ben Meiselas:Then Charlie Angus brought us this incredible clip right here as well. And what I love what Charlie Angus is doing is he's traveling all of Canada and part of his videos that he's rolling out are showing the beauty of Canada also. And as Charlie says, what we're fighting for here, our sovereignty that Donald Trump wants to take away. Here, play this clip. It was significant that recently the Prime Minister Carney talked about the trade risks in our relationship with the United States and our need to manage that relationship. And he basically said that it was similar to the risks that we face with China.

24:24That's an extraordinary thing to say, because we just remember just a few years ago when the United States pushed Canada to arrest Meng Wanzhou, the head of Huawei, because the Americans were fighting with China over the control of the digital space and wanted Huawei out of the market. And Canada agreed to arrest Meng Wanzhou for extradition to the United States. China retaliated heavily. They arrested and imprisoned two Canadians, the two Michaels, held them in custody for way too long. There was a huge public outcry that resulted in a backlash in Canada against Chinese imports, against the Chinese government.

25:06China has a pretty dubious track record in terms of human rights, their interference politically in Canada. And when we took Meng Wanzhou into custody, the Americans left us high and dry. We were on our own. They didn't come to our aid, even though we were helping them. But right now, Canada is reconsidering that relationship with China. Why? Because we can no longer trust the United States. and we know that we have maybe 150, maybe more Canadians in custody at ICE detention centres without the rule of law. Well, we had two Canadians under Chinese custody and it caused a huge outcry. We have now over 150 in the United States.

25:48So when the Prime Minister's talking about us needing to rethink our trade relationships and our strategic relationships, The fact that we're now willing to entertain relations with the authoritarian government in Beijing shows that we can no longer maintain those relationships with the United States.

26:07Ben Meiselas:And speaking about Donald Trump wanting to take away Canada's sovereignty, Michael Wolff, Donald Trump's former biographer, talked with us about his obsession, Trump's obsession for taking over Canada and how it started with the former CEO of Fox, the former head of Fox, Roger Ailes, telling Donald Trump that, you know, the strongest thing you could try to do is take over Canada and turn it into the 50s. first state and that Trump had always been obsessed with that idea. Once Roger Ailes planted the seed in 2016, play this clip. When Trump started to run for president in 2016, he sat down with Roger Ailes, who was then running Fox News.