John Knopick kicks off this episode with an announcement about a format change before delving into the intricacies of Canadian and global economic news. He discusses Mark Carney's position on US relations, alongside Canada's new prime minister navigating economic turmoil. The conversation highlights Carney's economic strategies, the Team Canada approach, and trust in Canadian politics. John examines the impact of US and Chinese tariffs on Canadian exports, touching on rising food prices and the housing market. Listener opinions on trade and economic policies are featured, expanding to the US-China trade war and its global ramifications. The episode concludes with global shifts, listener questions, feedback, and shout-outs.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Hey, Smorgasbord family.
It's John Kanapic here.
I know a lot of you tuned in today to this veryspecial episode expecting a deep dive into the
JFK assassination filled up with completelywith all of the new declassified documents and
everything else that's been going on over thelast sixty years.
And trust me, I was ready to go full Zapruderfilm on you guys as well, frame by frame,
(00:21):
Grassy Knoll, the Bushka lady, and Umbrella Manand all.
But, unfortunately, sometimes the world justthrows you a curveball, and you've gotta pivot.
Pivot.
For those of you who know all about the TV showFriends, you guys will get the reference there.
But this week, the news out of Canada and theglobal economy is just too wild to ignore,
guys, so we're talking about a new primeminister, Mark Carney, and a tariff war between
(00:44):
The United States and China that's got moredrama than a wrestling pay per view.
And believe me, I know all about wrestling payper views.
And here's the kicker.
Carney's not exactly rolling out the red carpetfor The United States.
In fact, he's made it pretty clear that he'snot a fan of The US and the way The US throws
its weight around, especially when it comes totrade and tariffs between The United States and
(01:07):
Canada.
That's why this episode today is gonna be allabout the tariff issue with The United States
and China, the new prime minister over inCanada, and the relations between The United
States and Canada that are currently not on thebest, but trying to mend it as best as we can.
Pour yourself a coffee, settle in, grab yourfork and knife, and join me here on episode
(01:29):
five of the smorgasbord with John Kanopuk,Canadians, tariffs, and chaos.
Oh my.
That's for George Takei fans out there.
But we're gonna dive into the first segmenthere in just one moment.
Thank you guys so much for tuning in.
This is the smorgasbord with Jon Knoppik, andwe'll be right back.
Stick around.
Hey there, smorgasbord listeners.
(01:50):
Whether you're here for wrestling SmackDowns,wild conspiracy theories, political hot takes,
or just my questionable life advice, I want tohear from you.
Hit me up on social media at Smorgasbord JK, orgo full keyboard warrior, and email me at
john@kanoppockventures.com.
Your message might just make it onto the show.
Unless it's about pineapple on pizza, then youmight wanna rethink your life choices.
(02:15):
Don't be a stranger.
Now let's get back to the chaos on thesmorgasbord with John Kanoppock.
Okay, guys.
Welcome back to the smorgasbord.
I am, of course, John Kanopik.
Thank you guys very, very much for tuning in tothis fifth episode.
Can't believe we're already five episodes in,and we've got we've dived into everything on
(02:36):
these podcasts from my upbringing to trauma andresilience to a little bit of wrestling to a
little bit of everything.
And now we're gonna be diving into somepolitical stuff.
My intention, just so you guys know for alittle game planning here, is to eventually set
it up so once a week or for I'm sorry.
I'm sorry.
One episode per week until we decide we wannado more.
(02:57):
One episode per week, we're gonna bedesignating each each week to a certain style
of topic.
Like, for example, we're gonna have one weekthat's gonna be completely set up for wrestling
related themes and topics and discussion.
One week is gonna be all about politicallandscape and current events and things like
that.
Another one, another week is gonna be divinginto conspiracy theories.
(03:21):
We'll even have a week for you guys, thelisteners, to give us some much needed feedback
and help us design future episodes.
Plus, we're eventually gonna be rolling outsome actual interviews in amongst those
episodes as well once I feel a little moreconfident and able to muster up the courage to
actually start interviewing people and expertsin those different fields.
(03:43):
So a lot of things on the horizon, guys.
Definitely stick around.
Stay tuned.
Tell all your friends.
Get us some more viewers and feedback and allthose goody goody goody things out there.
But let's get into this week's episode again.
It's called Canadians Tariffs and Chaos.
Oh my.
Now let's start with the big headline, shallwe?
Canada has in case you haven't been living forIraq and weren't exactly aware of what was
(04:07):
going on in the world, Canada actually has anew prime minister, and it's not your typical
politician, much the same way The United Stateswent that exact same route in 2016 and again
here in 2024, even though in 2020, we all knowwhat happened with that election.
Now this this nonpolitician's name is MarkCarney.
Now if you're not a finance nerd, you might bethinking, who?
(04:31):
But let me paint you a picture.
Imagine you're at a family reunion, andeveryone's arguing about who should take over
the family business or in my wife's family'scase, the Sopranos.
Suddenly, your cousin Mark, who's been offrunning the finances for some of the biggest
companies in the world, strolls into the familygets together, and everyone just kind of stops
(04:54):
and stares at him.
Like, what are you doing here?
That's basically what happened in Canada thisyear.
But here is what sets Carney apart, and it'sabsolutely 100% making waves.
He's not shy about his skepticism towards TheUnited States as you can be well aware.
He was if you've been paying attention towhat's going on up there to our neighbors to
(05:17):
the north, you can definitely see somefractures on both sides of the aisle here.
He said more than once that Canada needs tostop playing second fiddle to its southern
neighbor.
Good luck with that.
He's openly criticized US trade tactics,calling them Canada's or shortsighted and
damaging to allies.
(05:38):
In his first press conference as primeminister, he even said, and I quote, Canada's
future will not be dictated by Washington'swhims.
That's not a good way to start off your tenurethere, mister Kearney.
It's a pretty bold stance, actually, especiallyfor a country that's so economically tied to
The United States.
It's not even funny.
(05:59):
Now Kearney's not just any cousin, though.
This is also a guy who's not just run the Bankof Canada, but also the Bank of England.
You heard me right.
The Bank of England.
It's like being the head coach for the TorontoMaple Leafs and Manchester United at the same
time.
He's got a Harvard degree, a doctorate fromOxford, and a reputation for being the calmest
(06:22):
guy in the room when things get dicey.
He sounds believe it or not, in certainaspects, he absolutely sounds like our current
leader right now.
When the going gets tough, he's cool and calmunder pressure and cool and calm as a cucumber,
so to speak.
Remember the 2,008?
Some of you might, some of you might not.
(06:43):
Carney was actually the guy who helped Canadadodge the worst part of that.
Then when Brexit, the the exit strategy of TheUK happened over there, He was actually over
there steadying the ship at the Bank ofEngland, making sure they were able to wide
ride the waves and not get totally toppled byeverything that was going down in The UK's
(07:05):
political landscape.
The Financial Times even called him the world'smost influential central banker.
That was a big, big, big words and big shoesfor him to to fill.
So how did this guy end up exactly as primeminister?
Well, after nearly a decade in power, JustinTrudeau, we all know how amazing of a guy he
(07:27):
is, stepped down earlier this year.
The liberals were looking for a fresh face,someone with credibility, unlike our liberals
here who put the most major of wackadoos at theforefront of their ticket, and you've seen
what's happened because of that.
And Carney actually did fit the bill for thoseliberals up there in Canada, but here's the
(07:50):
twist.
Carney's not a career politician, just like ourleader right now.
He's a technocrat, numbers guy, and now he's inthe political ring where the punches are a lot
less predictable than the world of finance.
So if you think about it in kind of a weirdway, it'd be kind of like Elon was actually
president because, obviously, he's not a careerpolitician, but in the tech space, he is, like,
(08:13):
exceptional at what he does.
And also with, Carney's open distrust of USmotives, Carney's already set a new tone for
Canada's foreign policy.
He's been quick to remind Canadians thatrelying on The United States absolutely has its
risks, especially when Washington's prioritiescan change overnight.
He's even floated the idea of building strongerties with Europe and Asia to reduce Canada's
(08:39):
dependence on American markets.
Now let's pause for a second, if you indulgeme.
Imagine that you're Kearney stepping into theprime minister's office for the very first
time.
You've got a country up there that's tired,anxious, and clamoring and just begging for
(09:01):
answers.
The economy is definitely not on stable terms,very shaky.
The climate debate is absolutely raging, andevery move you make is gonna be under a very
high powered microscope.
Would you feel excited?
Would you feel terrified?
Maybe skited, scared, and excited combined?
(09:22):
Patent pending.
Would you be willing to risk a fight with TheUnited States, your big brothers to the to the
South, if you thought it was the right thingfor your Canadian brethren?
And in my estimation, you gotta be verycautious, especially with who's in power now.
Now this was the old regime, the one whoshouldn't have been in there in 2020 in the
(09:45):
first place.
He might have had better luck with what he wastrying to push.
But because we've got Trump back in office,yeah, he's gotta be way more cautious with the
way he approaches things when it comes toUnited States negotiations and relations.
Now his first big move as prime minister, youask?
Well, he scrapped the consumer carbon tax.
(10:09):
That's a huge deal up in Canada, especially outwest where the tax was about as popular as a
snowstorm in July.
Instead, what he did was he kept the industrialcarbon tax, which targets big polluters but
leaves regular folks off the hook, which is agood thing.
Supporters say it's a relief for familiesstruggling with high costs, but environmental
(10:30):
groups are furious, warning that it could setback Canada's climate goals.
Makes sense.
Now let's switch a little bit and talk aboutthe economy up there.
And now inflation in Canada is sitting at aboutroughly 4.2%, Not as bad as some places, but
still a real squeeze for a lot of people.
(10:51):
Food prices are up, rent is up, and theCanadian dollar has dropped about 6% against
the United States dollar since January, soquite a bit in just the last four months.
That means everything from electronics togroceries is more expensive if it is imported.
Unemployment is also unfortunately up there aswell, now at 6.1%, with manufacturing and
(11:19):
agriculture taking the biggest hits.
What does Carney do?
What is what is his game plan?
What what's his response to this?
Well, he's launched what he calls a team Canadaapproach.
He's brought together premiers from everyprovince, indigenous leaders as well, and
business executives on top of all of that totry and find a way through this mess to get out
(11:43):
of the the thick of it.
He's also promised to invest $10,000,000,000 ingreen infrastructure and clean tech, aiming to
create 100,000 new jobs by as soon as 2027.
But, unfortunately, for him, the politicallandscape is very, very rough.
The liberals are hanging on with a minoritygovernment.
(12:05):
The conservatives under Pierre Poultervaire arehammering Kearney left and right on
affordability and energy, and the NDP and theblock, they're well, they're gonna be they are
actually pushing for more action on housing andclimate.
Now, guys, let's get real for a second, shallwe?
(12:25):
If you were in Carney's shoes at this point intime, would you risk with all of that going on,
would you risk angering The United States tostand up for Canadian interests, knowing
everything else that's going on in your in yourcountry, or would you try to keep the peace
even if it meant swallowing some very, verytough pills?
And what about the that Team Canada approachthat he has?
(12:46):
Do you think it's possible to even get all ofthe premiers, business leaders, and indigenous
voices all pulling in the same direction?
It's a little far fetched.
It even goes far as to say it's very politicalwishful thinking if you think about it.
Now Carney's approval rating, it did startstrong, 58% just in March alone according to
(13:11):
Angus Reid, but it's already slipped down justtwo months, less than two months, to 51% as the
economic pain really starts to set in.
Western premiers are very happy about thecarbon tax rollback, as we mentioned before,
but environmentalists are calling it a very,very, very fierce betrayal.
Chamber of Commerce likes Kearney's focus onstability, but warns that trade disruptions
(13:35):
could derail everything.
Now let's dig a little deeper, if we will,here.
Kearney's background is fascinating to me.
He grew up in the Northwest Territories, sohe's no stranger to the challenges of rural and
northern life as the majority of the provinceup there deals with.
He's worked in the private sector at GoldmanSachs as well as in the public sector at the
(13:58):
highest levels, as we mentioned, Bank ofCanada, Bank of England.
He's seen the world from boardrooms and fromthe roots of Canada, so he's covered all ends
of the spectrum.
Now that does give him a hugely uniqueperspective, but it also means he's got a lot
of expectations to manage.
And here's where I wanna bring you guys in,listeners.
(14:19):
Imagine once more time that you're in Carney'sshoes.
You've got the world's eyes on you, you've gota minority government, and you've got a country
that's feeling the pinch.
What I want you guys to think about, and let meknow your comments, do you double down on
climate action, or do you try to ease the costof living for regular folks?
(14:40):
Which way do you go?
Is Carney's technocratic style what Canadareally needs right now, or is he too much of a
numbers guy for the rough and tumble world ofpolitics, especially Canadian politics?
And with his own open skepticism of The UnitedStates not being shy about that, is he
protecting Canada's interests, or is he riskingtoo much by literally poking the bear?
(15:04):
And would you guys scrap the carbon tax?
Would you guys have scrapped it, or would youguys have kept it going?
And if you would have kept it going, would youhave doubled down on climate action even if it
meant higher costs at the pump for people?
Hit me up on social media at smorgasbord j k,get them all switched over, or
(15:24):
John@CanopicVentures.com, or, you know, send mea voice memo.
I wanna hear your take on this.
I wanna know what you guys think.
Give me your thoughts as if you were Kearney.
How would you handle all of the crises going onup there right now?
What would be your your blueprint for gettingthem out of the sticky wicket that they're
currently in?
Now, let's not forget one more thing, guys.
(15:46):
This is not just about policy, it's abouttrust, because if you don't got the trust,
you're never going to make it.
Canadians are looking for someone that couldsteer that ship through very rough waters,
getting choppier by the day.
Will Carney be that leader, or will thepressures of politics be too much even for a
world class banker?
(16:07):
Now, guys, we're gonna take a little break hereas we've been taking a break here after our
first segment.
Next segment we're gonna be diving into isgonna be dealing with the economic crossroads
up there in our neighbors to the north up inCanada regarding tariffs, trade, and
turbulence.
So I'm gonna take another quick little breakhere.
We'll be right back here on the smorgasbordwith Jon Knoppik.
(16:28):
Thank you guys so much for tuning in, and we'llbe right back after this ad break.
Stick around.
Hey there, smorgasbord listeners.
Whether you're here for wrestling SmackDowns,wild conspiracy theories, political hot takes,
or just my questionable life advice, I want tohear from you.
Hit me up on social media at smorgasbord j k,or go full keyboard warrior, and email me at
(16:50):
john@kanoppockventures.com.
Your message might just make it onto the show.
Unless it's about pineapple on pizza, then youmight wanna rethink your life choices.
Don't be a stranger.
Now let's get back to the chaos on thesmorgasbord with John Kanoppock.
(17:10):
Alright, guys.
Welcome back to the smorgasbord with JohnKanopik.
Thank you guys so, so much for tuning inwherever you're listening to this app or even
if you're viewing it on YouTube.
Thank you guys so much.
Greatly appreciate it.
Again, I appreciate all feedback that you guyswant to send my way on all social media
channels.
It's at smorgasbord J K or shoot me an oldschool email, johncanopicadventures dot com.
(17:37):
Let's get into the weeds on the economy, shallwe?
Because this is where things get reallyinteresting, and honestly a little scary.
Now Canada's economy, as I've mentioned, isfacing a perfect storm right now.
You've got US tariffs.
You've got Chinese retaliation.
They're not happy either.
(17:58):
And a whole lot of global uncertainty allcoming together to create a nice cornucopia of
fear and unease.
Now this is where Carney's attitude towards TheUnited States really comes into play.
Unlike some of his predecessors, like Trudeau,he's not afraid to call out Washington's
(18:20):
America First policies.
In fact, he's gone on record saying that,quote, Canada can't afford to be bullied by our
biggest trading partner, being The UnitedStates.
That's a very bold move, Cotton.
Let's see if it works out for him.
Dodgeball reference.
But it is a bold move, especially when youconsider that about 75% or so of Canadian
(18:42):
exports still go into The United States.
Let's start with The United States in January.
President Trump, yes, he's back in the WhiteHouse, guys, for those of you who've been
living under a rock, and we're very happy tohave him back.
He slapped a universal 25% tariff on allCanadian imports.
(19:02):
Now if you if you do a little digging and youlook at some numbers out there in the current
landscape, you'll actually see that Canada hasbeen tariffing putting tariffs on The United
States for quite a long time, and those numbersare exceptionally higher than what we're trying
to tariff them.
So it's not as if this tariff situation is abrand new concept.
(19:25):
It's been around for quite a while, and we'vebeen getting hurt a lot worse than we're
currently in the process of hurting them.
Now the official reason for Trump imposing thatuniversal 25% tariff on Canadian imports, you
ask?
National security and unfair trade practices,which ties back into how Canada has been
(19:46):
tariffing the crap out of us.
But let's be real, guys.
It's always going to be with Trump in office,and we love this part.
It's always gonna be about putting AmericaFirst and squeezing Canada for concessions
because they've been trying to squeeze us.
Carney's response to that, well, it was swift,and it was sharp.
He called the tariffs an act of economicaggression and fired back with his own
(20:11):
increased tariffs on United States goods suchas steel, aluminum, agricultural products, you
name it.
And the result?
How well did that work out for?
Well, Canadian exports to The United Stateshave dropped 18% in the first quarter of twenty
twenty five compared to last year.
Gee.
Why could that be?
(20:31):
That's not just a number, guys.
That's factories cutting shifts, farmers losingmarkets, and small towns feeling the pinch.
I'm going go ahead and break that down for youguys.
Imagine that you're a factory worker over in,let's say, Windsor, Ontario, a place I've been.
It's a very beautiful city.
You've been making auto parts for years, maybedecades.
(20:55):
Your entire life or at least your adult life,if not more than that, especially if it's a
family owned business, has been tied to thatauto making those auto parts and your your
livelihood depends on it.
Suddenly, plant manager decides to call ameeting.
Orders are down, costs are up, and layoffs arecoming.
(21:17):
It's just the nature of the beast,unfortunately.
Or, you know, let's let's give you anotherexample.
Let's say you're a farmer in Saskatchewan,totally different province, watching your
canola crops rot because, you know, there'snowhere to sell it.
Where where is it gonna go?
(21:37):
You have you have nowhere to sell it becausepeople aren't buying it because of the high
cost to import it down here.
So you're stuck watching it just wilt away.
See, these aren't just numbers, guys.
They're real people, real families, realcommunities, real life situations that are
(21:58):
affecting every single aspect of the humanexistence, especially up in Canada.
Now it's not just The United States.
It's not just China, which used to be a hugemarket for Canadian canola, pork, and seafood
that's hit back with their own tariffs.
(22:20):
Canola exports to China, for example, whichwere worth $2,700,000,000 with a b dollars a
year are expected now to fall below$1,500,000,000 by the end of twenty twenty
five.
That's almost a 50% decrease.
Seafood exports are down 30% since the newtariffs hit, and that's devastating the fishes
(22:44):
over in Atlantic Side Of Canada, on the FarEast Side.
The government has announced $2,000,000,000 inrelief for these affected industries, but
everyone knows that that's just a band aid whenyou're dealing with an amputation.
It's not going to be the cure.
It's not going to plug the leak.
(23:06):
And while we're mentioning seafood and canolaand other things like that, let's talk about
grocery bills for a moment.
Food prices in Canada are up 7% year over yearwith, again, the big ones being canola oil,
pork, and seafood seeing the largest of thosejumps.
(23:26):
The housing market, it's cooling off a littlebit up there.
Average home prices in Toronto are still astaggering over $1,100,000 for an average home
in Canada.
That is just insanity.
But the weirdest part is, and the most shockingpart, they're actually down 4% from last year,
(23:49):
so you were closer to over 2,000,000 on anaverage before then.
The Bank of Canada is keeping interest rateshigh though at 5.25% to fight inflation, but
unfortunately, that's making it harder forpeople to be able to afford homes or invest in
new businesses and try to get things backgoing.
(24:11):
Now Kearny's government is trying to find anynew avenues, any new streams, any new markets,
Europe, Japan, even India, but those deals,unfortunately, are not done overnight.
They take time, and they can't fully replaceThe United States and China, the two biggest
players on the planet, obviously.
(24:32):
The conservatives are saying that Kearney isbeing way too confrontational with The United
States.
I can see that, especially with who we have asour leader.
While the NDP wants more support for itsworkers and a windfall tax on companies
profiting from inflation.
Now public opinion on this, you ask?
Well, it's split.
The 47% of people out there support Carney'stough stance, while the other while 42% want a
(24:58):
more conciliatory approach according to Ipsos,and 11% couldn't be bothered to be uphold to
them.
Now I'm gonna pause again and give it back toyou guys here.
If you were in charge, knowing what you knownow about the prices and inflation and
percentages and things, Would you stand up toThe United States and China, or would you try
(25:23):
to make peace even if it meant, again, toughcompromises?
Do you do you guys really think that, you know,Canadians could really diversify its trade, or
are we just too tied to our giant are you guysjust too tied to your giant neighbors down
here?
And what about the people caught in the middle?
What about them?
(25:43):
How do we make sure they don't get left behind?
Another solid question that needs to beanswered.
Finally, let's get into some specifics.
The auto sector is a beautiful example.
Ontario and Quebec both rely on cross bordersupply chains.
(26:04):
When tariffs go up, of course costs go up, andsuddenly it's cheaper to make cars elsewhere.
We've already seen the production cuts andtemporary layoffs at major plants, and guys,
it's not just cars.
Everything from lumber to maple syrup, it's allbeing caught in caught in the crossfire.
(26:24):
And also, let's not forget those lovely, lovelyripple effects.
When one sector takes a hit, it affectseverybody as a whole.
Truck drivers, warehouse workers, even thelocal diner where the workers grab their
lunches.
It's a domino effect, and it's happening,unfortunately, in real time.
(26:45):
Now if you guys happen to have a story abouttariffs or how maybe trade wars have affected
you or your business, or, you know, you'retrying to get a startup going, but you're not
able to for reasons tied to these, I want tohear about it.
Drop me a line on all social media platforms atsmorgasbordjk, Shoot me an email,
john@canopicventures.com, or if you want to andyou feel need, send me a voice memo.
(27:10):
Again, you know, this is your smorgasbord,guys.
I'm giving you the menu.
You guys get to gobble it up, and if you wannagive me some menu ideas as well, give me your
feedback, I will be more than happy to takethat and run with it.
Now we're gonna take another little break here,guys.
We're gonna be switching away from Canada andheading down to The down here to The United
(27:31):
States to start talking about The United StatesChina tariff war and the global power struggle
that's going along with it.
Gonna take a little break.
Gonna start that segment next year.
You're listening to the Smorgasbord with JohnKanopik.
Thank you guys so much for tuning in, and we'llbe right back after this quick ad break.
Stick around.
(27:51):
Hey there, Smorgasbord listeners.
Whether you're here for wrestling SmackDowns,wild conspiracy theories, political hot takes,
or just my questionable life advice, I want tohear from you.
Hit me up on social media at smorgasbord j k orgo full keyboard warrior and email me at
john@canopicventures.com.
Your message might just make it onto the show.
(28:12):
Unless it's about pineapple on pizza, then youmight wanna rethink your life choices.
Don't be a stranger.
Now let's get back to the chaos on thesmorgasbord with John Kanopik.
Alright, guys.
Welcome back.
Thank you so much for tuning in.
This is the smorgasbord with John Kanopik.
I, of course, am John Kanopik.
(28:33):
We've been discussing the Canadian turmoilsituation with the new prime minister Carney up
there along with their tariff and financialstruggles.
But now we're gonna take a little shift here,and we're going to zoom out from Canada and
talk about the main event that's on the worldstage right now from a financial standpoint.
(28:54):
The ongoing and that is, of course, the ongoingtariff war between The United States and China.
And of course, guys, this is not just aboutCanada being squeezed.
This is a global power struggle that's beenbuilding and building and building for years.
The United States China trade war really kickedoff back in 2018 during Trump's first term in
(29:18):
office.
It all started when Trump started slappingtariffs on hundreds of billions of dollars in
Chinese goods.
Now there was a brief truce in 2020, but by2023 and 2024 last year, things were starting
to heat up once again.
Of course, as things like this go, both sideswere accusing one another of unfair trade
(29:43):
practices, intellectual property theft, and aswell as currency manipulation.
Now let's fast forward to this year, 2025, andThe United States has expanded tariffs to cover
almost all Chinese imports, with rates rangingfrom 10% all the way to 50% on things like
electronics, steel, and even solar panels.
(30:05):
Though yeah, that's right guys, even solarpanels are being are being taxed or tariffed
and have their prices jacked up.
Now let's talk numbers, shall we?
United States imports from China have droppedfrom $540,000,000,000 in 2018 down to
$370,000,000,000 in 2024, so it's a drop ofabout lower 30%.
(30:29):
Chinese imports from The United States havefallen from 155,000,000,000 down to
110,000,000,000, so again, it's about a 30%drop.
The average tariff rate on Chinese goodsentering The United States is now roughly
around 25.9%, up from just 3.1% in 2017, soquite a bit of a jump.
(30:55):
Now China, of course, they're not going to sitidly by and allow this to happen.
They've hit back with tariffs on The UnitedStates, tariffing things such as our
agricultural products, our automobiles, as wellas our technology.
And they've restricted exports of criticalminerals like rare earths, stuff you need in
everything from smartphones to electric cars,things that are a critical component.
(31:20):
Now you're gonna ask, what is the impact of allof this?
What does this all mean?
Well, for American consumers, prices forelectronics, as you can tell if you've been
shopping anywhere, Best Buy, Walmart, Target,you name it, prices for electronics,
appliances, and even some clothing are up fiveto 12%.
(31:42):
Farmers in the mighty Midwest, like where I'mfrom in Iowa, have lost unfortunately an
estimated $28,000,000,000 in exports to Chinasince 2018, with soybeans, pork, and corn
taking the most gigantic of hits.
Now some United States manufacturers, they'veactually benefited from less Chinese
(32:04):
competition, but a lot of them unfortunatelyrely on Chinese components, like those rare
rare earth things we mentioned earlier, sotheir costs have gone up as well.
And again, as I had said before, China is justthey're not sitting back on this, not not in
the slightest.
They're investing heavily in domestic tech aswell as manufacturing, trying to become even
(32:27):
more self reliant than they already are, whichis a scary prospect to think about.
GDP growth in China has slowed to 4.5% in 2024,down from 6.1% in 2019 according to the World
Bank.
Now Chinese companies are moving production toplaces like Vietnam and Mexico, as we all know
(32:51):
what we've been hearing the the articles andthe video clips about what Trump's planning on
doing if, you know, they try to import Mexicotries to import those vehicles in The United
States that were made in China.
Not gonna end well.
But, yeah, they've they've tried to do it inVietnam as well as in Mexico to dodge the
(33:14):
tariffs in The United States, but they've cometo find that that's really been a lot more
expensive and as well as disruptive.
Politically, as I said, Trump says the tariffsare necessary to protect American jobs and
counter China's economic aggression.
Critics, including a lot of US business groupsand economists, say tariffs are basic or trying
(33:38):
to say that tariffs are basically attacks onconsumers and really haven't changed China's
behavior.
But if you look at it, tariffs are not going tobe something that you'll see the immediate
positive impacts on.
They are going to take time for that to reallyshow their true colors.
Even the World Trade Organization has ruledthat some US tariffs violate international
(34:01):
rules, but enforcement is weak.
Now there are gray areas in there, so it's notlike they're intentionally skirting things.
The IMF estimates that the trade war has shavedhalf a percent off of the global GDP growth
since 02/2018, and that's quite a significantnumber.
Now it's not just The United States and Chinahere, guys.
(34:26):
Other countries like the European Union, Japan,Australia, they're all caught in the middle of
this battle going on between the two bigsuperpowers.
They're facing pressure to pick sides or risktheir own trade relationships.
Basically, if you're not going with mama ordata, you're going to get blitzed either way by
(34:46):
one or the other.
In 2025, the United States has imposed newexpert controls on advanced semiconductors and
AI tech, again citing national security.
China responded by restricting imports of thoserare earth elements and other critical
(35:06):
minerals.
Talks between the two sides unfortunately havestalled quite a bit, and both governments are
blaming each other for the impasse, as theywill do.
Neither one of them wants to own up and takeresponsibility.
And that's right.
Let's let's let's take another little trip intothe into the multiverse, if you will.
(35:32):
Let's say you're a business owner in Germanythis time or Brazil or even India.
Do you pick a side?
Do you go with The United States?
Do you go with China?
Or do you try to be like Swiss, the Swiss, andstay neutral and just fingers crossed, hoping
for the best?
What happens if the world really does splitinto rival economic blocs with different rules
(35:55):
and different standards.
Does that make us safer or does it just make usmore divided?
While you're thinking about that, think aboutthis: Are tariffs actually working or are they
just making everything more expensive foreveryone?
Again, as I had mentioned, it takes time fortariffs to really show benefit.
At the beginning, it's going to seem like apinch, but in the long run it becomes more of a
(36:18):
benefit than a hindrance.
Now, how should other countries navigate thisrivalry?
Are the other countries?
How are they going to pick sides?
Are they going to pick a side?
Will they even pick a side?
Are they just going to stay neutral?
And what happens if the world really doessplit?
If you're listening from outside North America,if you happen to be tuning in from one of these
(36:41):
other countries, I want your perspectives aswell, guys.
I wanna know what would you guys feel from thespots outside of The States here.
How is this trade war playing out in yourcountry?
How are you guys being affected by what's goingon between The United States and China?
Are you guys seeing higher prices where youare?
Job losses?
New opportunities?
You know what?
What are you guys feeling where you'relistening in at?
(37:04):
Let me know.
Smorgasbordjk or johncanopicventures.com.
We're going to take another quick little breakhere, and when we come back here on the
smorgasbord with John Kanopik, we're going todive into the human side of tariffs and how
they affect real people and real businesses.
(37:25):
This is the Smorgasbord with Jon Knoppuk.
I am Jon Knoppuk.
We'll be right back after this quick ad break.
Thank you guys so much for tuning in, and we'llbe right back.
Stick around.
Hey there, Smorgasbord listeners.
Whether you're here for wrestling SmackDowns,wild conspiracy theories, political hot takes,
or just my questionable life advice, I want tohear from you.
(37:47):
Hit me up on social media at smorgasbord j k orgo full keyboard warrior and email me at
john@canopicventures.com.
Your message might just make it onto the show.
Unless it's about pineapple on pizza, then youmight wanna rethink your life choices.
Don't be a stranger.
Now let's get back to the chaos on thesmorgasbord with John Kanopik.
(38:11):
Alright, guys.
Welcome back to the smorgasbord with JohnKanopik.
I am John Kanopik.
Thank you guys very, very much for tuning inwherever you're listening to your podcast, be
it Spotify, be it Apple, Amazon, iHeart,wherever you may be listening, or if you're
catching me on YouTube, hope you're enjoyingthe show.
Now let's bring it down to earth for a minute.
With all of these numbers and all of thesepolicies, the tariffs, the trade wars, the
(38:37):
political maneuvering, the posturing, the malegenitalia showing, trying to say, Mine's bigger
than yours, etcetera, etcetera.
What they don't realize, or I'm sure theyrealize, but when they're so blinded by their
(38:59):
tunnel vision, they don't truly understand, isthe fact that all of this has real impacts on
real people, both in Canada as well as aroundthe globe.
Now I'm going to go back to the Canadianfarmers again.
Out on the prairies, canola and pork are facingbankruptcy, unfortunately, as exports to China
(39:22):
dry up and show no sign of recovery.
The Canadian Federation of Agriculture, itactually says that 12% of family farms are at
risk of closure this year.
Nearly over 10% of family farms are at risk forbeing shut down.
That's not just a statistic, guys.
Unfortunately, that is families losing theirlivelihoods, small towns losing their main
(39:45):
employers and having to shutter up otherbusinesses, and a way of life directly under
threat by all of this going on.
Fishers in Atlantic Canada are seeing thoseincomes, as I mentioned, drop by 20 to 30% as
Chinese demand for lobster and crab collapses.
Up in Ontario, in Quebec, in Manitoba, and evenin Alberta, factory workers are facing layoffs
(40:12):
as Ottawa power plants are cutting shifts or insome cases just shutting down entirely.
You know?
And even still, and it's not just Canada, guys.
The United States down here, our farmers havelost billions in exports, leading to a spike in
farm bankruptcies in the Midwest.
(40:33):
I have quite a few people that I know who hadfarms that were thriving, now they're barely
able to stay afloat because of everythingthat's been going on with this.
So it is hitting them exceptionally hard, andit's not just them.
Us here, Us Us consumers are feeling the pitch.
We're paying more from everything from washingmachines to smartphones to gas to eggs, you
(40:56):
name it.
We're getting blitzed ourselves.
Some United States manufacturers, a very, verysmall minute amount, have actually benefited
from the Chinese competition.
But again, they mainly rely on those Chinesecomponents and they're struggling with the
higher costs.
Now you're saying to yourself, well, we knowabout The United States and Canada, but how is
(41:18):
this affecting China?
Are they getting hit too?
Well, in China, Exporters are shiftingproduction to Southeast Asia, but a lot of
small businesses over there have closed aswell.
Chinese consumers, just like us here, they'repaying more for United States goods, and some
American brands have lost complete marketshare.
(41:38):
The government is trying its hardest andconstantly pouring money into this domestic
innovation, but growth has slowed and they'restarting to feel the pressure finally, and it's
really starting to take a hit.
Globally, companies are de risking, as theycall it, by moving production out of China, but
(42:00):
of course, you know, that's not something thatcomes cheap.
It's very expensive as well as time consuming.
The cost of shipping, logistics, it's gone updramatically as well, and that adds to
inflation everywhere.
Some countries like Vietnam, Mexico, Japan,they're seeing new investments, but others are
(42:22):
struggling to adapt.
And then we can't forget the social andpolitical fallout.
Now can we, guys?
Rising prices and job losses are fuelingpolitical anger and polarization.
It's made the party lines here even more deepand more separated.
When we're trying to bring the countrytogether, this is doing the exact opposite.
(42:46):
Populist parties are gaining ground bypromising to protect jobs and stand up to
China.
International cooperation is breaking down,though, too, with more countries tuning to
protectionism, and in some cases just sayingscrew it and go in it alone.
Now.
If let's say for a second, let's say you guysare listening to this while you're driving to
(43:08):
work or you're on the subway commuting in to toyour job, wherever wherever you're having to do
your nine to five.
Or let's say, you know, you're you're gettingready to to feed your family for the night.
You're you're set up around you're gettingready to set up around the dinner table and
you're listening to this this episode.
Or, you know, let's say you've had a reallystressful day at work and you're just trying to
(43:31):
unwind.
You're tuning into me spouting off my mydiatribe about the current economical situation
around the globe.
Thank you for tuning in, by the way.
Have you guys noticed in all in all aspects?
Have you guys noticed that your grocery billhas slowly started creeping up a bit, even
though it went down for a little bit, but nowit's starting to creep up again.
(43:54):
You know, maybe because of that, you've had toput off a big purchase, like you wanted to go
on a family trip somewhere, or you know, youwanted to finally be able to buy your forever
home, or you know, you wanted to start your ownbusiness, but you're having to put that off.
You know?
Or maybe some of you are at home struggling andconcerned about your job and making sure you
(44:16):
even have something to go to the next day.
These again, all of these guys, these aren'tjust headlines.
They're not just attention grabbing phrases.
It's real everyday struggles that's affectingall humans on the planet.
And how do we balance these national interestswith the need for global cooperation?
(44:42):
How do you make it both work?
How do get the scales to even out?
You know?
By doing this, by by for the people in power,by doing this, are you guys forcing ordinary
people to pay the price for your powerstruggles?
Because if if that is the case, you're reallynot gonna be able to gain the trust back of
(45:04):
your constituents or those that you've you'vesworn to protect.
You know, you're not gonna earn that back.
And if in some cases, if it's an electioncoming up like next year during the midterms,
you could very well lose your spot altogether.
You know?
And while you're thinking about that, thinkabout this.
What can be done to support workers andcommunities caught in the crossfire?
(45:28):
How do you shield them?
How do you keep them afloat?
How do you keep what is the cornerstone of whatmakes these countries what they are?
You know, how do you keep them afloat?
How do you protect them?
Now if you guys have a story about how tariffs,trade wars, again, as I said, do you have any
(45:49):
stories about how they how things have affectedyou?
I want to hear them.
I wanna hear I need the feedback, guys.
I want to know what your thoughts are on thecurrent landscape of the world from an economic
standpoint, as well as from a politicalstandpoint.
Let me know your thoughts.
Smorgasbordjk on all social medias orjohn@canopicventures.com.
(46:11):
Again, guys, this is your smorgasbord as well.
These plates are being filled by your meat justas well as they're being filled by mine.
So let me know what you guys think, And yeah,let's keep the conversation going.
Let's let's build a dialogue about this.
Let's see if we can brainstorm some ideas thatwe could possibly pass on to our local
congressmen or something, you know, even thoughthey probably don't listen, but you never know.
(46:36):
But we're gonna take another little break dive.
We need a need a little recharge here.
And the next segment we're gonna be diving intois gonna be the one about the road ahead.
Let's look into the crystal ball, shall we?
Solutions, risks, what to watch for.
Let's let's take a deep dive into what's what'sto come.
Alright?
We're gonna be back here in just one moment.
(46:56):
We're gonna take another quick ad break.
This is the smorgasbord with John Kanopik.
I am John Kanopik.
Thank you guys very, much for tuning in, andwe'll be right back here after this quick ad
break.
Stick around.
Hey there, Smorgasbord listeners.
Whether you're here for wrestling SmackDowns,wild conspiracy theories, political hot takes,
or just my questionable life advice, I want tohear from you.
(47:18):
Hit me up on social media at smorgasbord j k orgo full keyboard warrior and email me at
john@canopicventures.com.
Your message might just make it onto the show.
Unless it's about pineapple on pizza, then youmight wanna rethink your life choices.
Don't be a stranger.
Now let's get back to the chaos on thesmorgasbord with John Kanopic.
(47:43):
All right, guys.
Welcome back.
Thank you guys so much for tuning in.
This is the smorgasbord.
I am John Kanopik.
Really greatly appreciate you guys listeningwherever you're getting your podcasts from, or
if you're watching me on YouTube, thank youguys very much for tuning in on here as well.
So now as I was saying, let's look at the roadahead.
Let's let's dive into the crystal ball.
(48:04):
Let's let's hop in our DeLorean, fire up theMr.
Coffee maker and the flux capacitor, and let'ssay to ourselves, guys, where do we go from
here?
Both Canada and the world, we're at acrossroads right now.
We're at a we're at an impasse.
The choices made in the next few years aregonna shape the future for a very long time and
(48:28):
possibly for generations to come.
In the case of Canada, Mark Carney's governmentis betting on economic diversification, green
investment, and a Team Canada approach.
As we've mentioned, they're trying to focus oncountry first.
Success for them will depend on finding newmarkets, making sure that their workers are
(48:52):
completely 100% supported, as well as keepingthe public trust.
Got to have the balance of both of those.
Now the next federal election, guys, it'sactually less than two years away.
Unlike here, they do theirs a lot morefrequently, And that political landscape at
this point in time is very, very volatile.
(49:15):
So unlike down here in The States where youhave the four years to try and stabilize things
and get things more on a positive track upthere, They're they're they're rail.
The railroad tracks is much, much shorter.
Now, you know, if Kearney can't deliver hisresults that he's been promising, voters might
(49:39):
turn to more populist alternatives, and Iwouldn't be shocked if they did.
Looking at The United States and China side ofthings, this tariff war, unfortunately, shows
no sign of ending.
Even though president Xi and president Trumphave promised to embark and take on more
negotiations and try to hammer out a deal, ithasn't quite come to fruition as of yet.
(50:05):
There were some threats that President Xi wasgoing to do, but after speaking with Trump and
things, he rolled back on those as herightfully should have.
Both sides, as you can tell, they're diggingin.
Digging their heels in.
They're not gonna let up on this.
And the risk of escalation into technology,finance, or at the worst aspects, military
(50:32):
confrontation, it's real, guys.
It's very real, and it's a scary prospect tothink about military confrontation with China,
something we do not ever want to get involvedin.
The global economy, in addition to what Canadaand The United States and China are dealing
with, global economy as a whole, it's at riskalso of fragmenting into rival blocs with new
(50:57):
rules and alliances.
The IMF, the World Bank, they're calling forrenewed international cooperation.
Kumbaya.
Why can't we be friends?
All hold hands and let's all get on the samepage.
Unfortunately for them, the trust in makingsure that that becomes a real thing is very,
(51:18):
very, very low.
Climate change, pandemics, both lab made andotherwise Wuhan, and technological disruption
are adding new layers of complexity, making iteven harder to accomplish those goals.
Ordinary people, workers, farmers, consumers,small business owners, they're demanding
(51:43):
solutions as they should, not just slogans.
Stop blowing smoke up people's backsides andgive us real results, real, tangible, positive
outcomes.
And while we're here in our nice, warm, comfyDeLorean, let's go a little bit further into
(52:05):
the future, shall we?
You know, will Carney's technocratic approachwin over Canadians?
Can we see him winning over the hearts of allCanadians up up there, or are voters gonna just
say, screw this.
You're not giving us anything.
It's all claptrap, not borderlands.
And they look for something different or popdifferent populist alternatives.
(52:30):
Can The United States and China finally find away to coexist, something we need, or are we
heading for a new cold war, which would bevery, very bad, especially because China is
more powerful than what Russia was back then.
That would be very scary to think about, andespecially with having a young child, you don't
(52:52):
want to think about a world like that.
How will other countries from the EU to India,Brazil, Japan, etcetera, how are they going to
navigate this new era of uncertainty?
What do futures hold because of everythingthat's going on?
Again, I want to hear I need to hear your guys'thoughts.
Let me know what you think about this.
(53:14):
Let me know if you've hopped into yourDeLorean, your near TARDIS, and gone into the
future.
What policies or strategies do you see in thecrystal ball that can help countries adapt to a
more divided world?
What what rote what routes do they have to taketo make things more manageable and livable from
(53:34):
a world standpoint?
Do you guys think that there's hope for a newera of cooperation, or are we unfortunately
stuck in an endless cycle of conflict andcompetition?
And while you're at that thinking aspect, thinkabout this.
How can individuals and communities buildresilience in the face of global shocks?
(53:59):
Shocks, not shocks, like the pandemic, shocks.
How can they build that resilience?
How can they be insulate themselves from thisthis kind of stuff going on?
Let me know what you think, guys.
I wanna hear your thoughts and your opinions.
Smorgasbord at Smorgasbord JK orJohn@CanopicVentures.com.
(54:20):
Let me know what you guys think.
Taking one more quick ad break, guys.
Last segment of the episode, as we normally dohere on every episode of the Smorgasbord with
Jon Knoepc, we're going to be diving into yourcomments and your thoughts, so stick around.
This is the Smorgasbord with Jon Knoepc.
I'm Jon Knoepc.
Thank you guys very, very much for tuning inwherever you're listening in from, Or if you're
(54:44):
on YouTube, thank you guys for catching me onhere as well, and we'll be right back with our
final segment.
Stick around.
Hey there, SmartersBoard listeners.
Whether you're here for wrestling SmackDowns,wild conspiracy theories, political hot takes,
or just my questionable life advice, I want tohear from you.
Hit me up on social media at smorgasbord j k,or go full keyboard warrior, and email me at
(55:08):
John@CanopicVentures.com.
Your message might just make it onto the show.
Unless it's about pineapple on pizza, then youmight wanna rethink your life choices.
Don't be a stranger.
Now let's get back to the chaos on thesmorgasbord with John Kanopik.
Alright, Smorgasbord family.
Thank you guys so so much for sticking aroundand tuning into this episode.
(55:31):
I am, of course, John Kanopik.
I hope you guys are feeling your stomachsgetting fuller and fuller by the moment as we
feed you more information regarding the goingson in the world, especially from the Canadian
turmoil in political states to The UnitedStates and and China having their tariff wars
to global uncertainty.
(55:51):
Hopefully, you're getting a nice big heapinghelping of what we serve here on the
smorgasbord.
Before we wrap up, of course, as always, myfinal segment of every episode, the one I love
the most, is going to revolve around ourlisteners, you beautiful people out there in
the social media universe, giving me yourthoughts and feedback.
(56:12):
Because, of course, you know, this show is notjust about me talking into the void.
The void, especially if you went and sawthunderbolts like I did over the weekend, you
now know the void is not a place that you wantto be or that you want to deal with.
But it's not just about me talking to the voidhere week in and week out.
It's about building a community, which is whatI'm struggling to do and trying to do as best I
(56:34):
can.
Sharing stories, learning from each other,riffing, and just, you know, trying to get get
fresh perspectives on things going on, not onlyaround the world with current events, but
things in wrestling, things in conspiracytheories, and other topics that you guys, you
know, are interested in or just want to talkabout.
I, of course, in this episode here, put out thecall for your thoughts on Canada's new
(56:57):
leadership, the tariff wars, as I mentioned,between The United States and China, and how
all of this is affecting your lives.
And of course, you guys actually delivered.
And again, I am very, very appreciative of allof the feedback that I have been receiving so
far.
And again, continue to send in the feedbackeven after this episode airs.
I still want to know your thoughts.
I still want to know what your what your futurewhat you feel the future is going to look like,
(57:22):
because I can always come back to this onfuture episodes as things progress.
So let's dig into some of your comments,questions, and other hot takes, shall we?
We're gonna start this round with a messagefrom Lisa up in Winnipeg, Manitoba, Canada.
Hey, Lisa.
Thank you very much for tuning in.
And I bet you if you're a sports fan up there,I bet you're absolutely loving what happened
(57:46):
last night with the Winnipeg Jets and the St.
Louis Blues and how that amazing game sevenended in double overtime with the Jets pulling
it out after being down two goals with lessthan a minute to go, catching up, tying the
game less than two seconds ago, and then indouble overtime about fifteen minutes in,
sending home the game winner.
(58:07):
So hopefully, you're having fun up there inWinnipeg.
Lisa writes, John, I'm a single mom working twojobs, and I've definitely noticed my grocery
bill going up.
I used to buy salmon once a week.
Oh, love me some salmon, delicious.
Especially if you get it from the coast,getting the fresh salmon, so good.
But unfortunately now it's just too expensive.
(58:28):
I'm worried about what happens if prices keeprising.
Do you think the government is doing enough tohelp people like me?
Thank you very much for your question, Lisa.
I appreciate that very, very much.
And of course, Lisa, you are not alone.
Food prices are up across the board and seafoodis as I've mentioned in the earlier segments on
the show today, seafood has been hit especiallyhard by these tariffs and trade disruptions.
(58:51):
The government's relief packages are a start,but as we've discussed, they're more of a band
aid than a cure for what's truly going on.
What I myself would love to see is a longerterm plan that addresses both affordability and
supply chain resilience.
Kill two birds with one stone.
(59:12):
Maybe more support for the local producers aswell, or even incentivize grocery stores to
keep their prices down.
Give them a little kickback for keeping thenumbers down to affordable levels for
consumers.
What do you guys think?
Do you think you've changed your shoppinghabits because of rising prices?
Let me know.
Next up, we've got a memo from Raj in Toronto,another beautiful city that I've been to.
(59:38):
Went up into the CN Tower.
Loved going over there.
Very clean city.
Raj says, Hey, John.
I work in the auto sector and things are tense.
Yeah.
Can see that.
My plan has already cut one shift, and thatthere's talk of more layoffs.
I get that Canada needs to stand up for itself,according to our new prime minister, but I'm
worried about my job.
(59:59):
Is there any hope for workers like us?
Raj, I hear you.
We all hear you.
The auto sector is right at the heart of thistrade storm.
It's not just about tariffs.
It's about the whole supply chain from steel tosemiconductors.
Now I think the key is going to be for thegovernment up there to invest in retaining and
(01:00:21):
support for its workers, and to push tradedeals that protect those Canadian jobs because
they're exceptionally valuable.
But it's absolutely tough, no question.
And, you know, if anybody out there, if youguys are listening and you've been through a
layoff or a tough transition, what helped youwhat helped get you through it?
(01:00:42):
What helped you get back on your feet duringthose uncertain times?
Let me know.
Let me share your tips and stories.
Give give Raj and I some ammunition to go offof.
Here's an email we've got from Sophie inMontreal.
Getting a whole bunch of Canadians today, whichis cool.
John, I'm actually a university student andstudying environmental science.
(01:01:05):
Oh, that's a pretty hefty trade to go into.
Yeah.
Very, very hefty.
I'm frustrated that the carbon tax was scrappedfor consumers.
Now I get that people are struggling, but isn'tclimate change an even bigger threat?
Depends on who you ask.
How do we balance short term pain with longterm goals?
Sophie, that is the $65,000,000 Canadianquestion.
(01:01:32):
Balancing affordability with climate action isone of the hardest challenges any government
faces, because there is climate change, but notto the level that some fearmongers tend to
push.
Maybe the answer is a more targeted approach byhelping those who need it most, while at the
same time keeping those incentives for greenchoices.
(01:01:53):
So again, with jobs, go do things more on agreen scale, giving them kickbacks for that as
well.
Or maybe it's about investing in clean tech.
You know, think about that.
Clean tech, it would help create jobs and cutemissions at the same time.
Again, two birds, one stone.
What do you guys think?
(01:02:13):
Is there a way to have both a strong economyand a healthy planet?
I would seriously hope so.
But, yeah, let me know your guys' thoughts onthat.
And we've got a comment here from Mike inNiagara Falls on The United States size on The
United States side.
And Mike says, as a United States citizen, I'mactually glad Kearny scrapped the carbon tax.
(01:02:36):
Where I'm at here, it was killing us at thepump, but I'm worried about what happens if The
United States and China continue to keepfighting like children who don't know how to
get along.
Are we just stuck in the middle forever?
Mike, you are speaking for a lot of folks, notjust on New York and the Upper Upper East Side
(01:02:59):
Of The United States, but as well as for peopleover there in Western Canada.
The feeling of being caught between two giantsis very real and very, very concerning.
I think Canada, as well as The United States'best bet is to keep pushing for diversified
trade and to build alliances with the othercountries facing the same challenges.
(01:03:20):
Get get together with those who are strugglingthe same way you are and see if you can build a
coalition.
But of course, it's not going to be easy, andit takes time.
If you've got ideas on how Canada and maybeeven to some extent The United States can stand
on its own two feet, I'd love to hear them.
Now, you know, I want to send a quick shout outto everyone who sent in stories about their own
(01:03:46):
experiences.
Thank you guys so, so much.
Whether it's changing jobs, moving to a newcity, just finding new ways to save money.
Your your stories and your feedback and yourcomments make this show what it is.
Now, if you didn't get your comment read today,don't worry about it, guys.
I see you, and I will try to include more nexttime we dive back into this topic or have
(01:04:08):
updates on the topic.
And if you've got it, you've got your ownthoughts.
As I said on anything we've covered today, keepthem coming.
Email John economic ventures dot com, socialmedia at smorgasbordjk, voice memos, anything
snail mail, a Vivian mailing address.
I want to hear from you guys now.
(01:04:30):
After all that, I am stuffed, and I hope youguys are stuffed as well, because that's it for
today's extra large, extra juicy, extraconcerning episode of the Smorgasbord with John
Kanopik.
If you got thoughts, again, as I said, onCarney's leadership, the tariff wars, on all or
how all this affects you, hit me up on socialmedia at Smorgasbord JK, or leave a comment
(01:04:54):
wherever you may listen.
Spotify, Apple, Amazon, iHeart, etcetera.
Don't forget, guys, our JFK assassination deepdive is coming soon.
We might actually do it next week depending onif there's another pressing issue that we would
need to push it back another one.
But if not, JFK coming next week, barring anyother massive global shifts that we need to
(01:05:17):
cover.
So stay tuned for more conspiracy goodness, andof course, more wrestling themed episodes as
well, and even a listener listener themedepisode thrown in in addition.
Thank you guys so so much for tuning in andlistening or watching here on YouTube.
This has been the smorgasbord with JohnKanopic.
(01:05:37):
I, of course, am John Kanopic.
Of course, in a world this wild, you've got tokeep your mind open and your fork ready.
And as always, ladies and gentlemen, take myadvice.
Pull down your pants.
Slide on the ice.
Have a great week.
Stay safe out there, guys, and I'll see you onthe next episode.
(01:05:59):
Thanks for tuning in.
Adios.
Hey, Smorgasbord family.
It's John Kanapic here.
I know a lot of you tuned in today to this veryspecial episode expecting a deep dive into the
JFK assassination filled up with completelywith all of the new declassified documents and
everything else that's been going on over thelast sixty years.
And trust me, I was ready to go full Zapruderfilm on you guys as well, frame by frame,
(00:21):
Grassy Knoll, the Bushka lady, and Umbrella Manand all.
But, unfortunately, sometimes the world justthrows you a curveball, and you've gotta pivot.
Pivot.
For those of you who know all about the TV showFriends, you guys will get the reference there.
But this week, the news out of Canada and theglobal economy is just too wild to ignore,
guys, so we're talking about a new primeminister, Mark Carney, and a tariff war between
(00:44):
The United States and China that's got moredrama than a wrestling pay per view.
And believe me, I know all about wrestling payper views.
And here's the kicker.
Carney's not exactly rolling out the red carpetfor The United States.
In fact, he's made it pretty clear that he'snot a fan of The US and the way The US throws
its weight around, especially when it comes totrade and tariffs between The United States and
(01:07):
Canada.
That's why this episode today is gonna be allabout the tariff issue with The United States
and China, the new prime minister over inCanada, and the relations between The United
States and Canada that are currently not on thebest, but trying to mend it as best as we can.
Pour yourself a coffee, settle in, grab yourfork and knife, and join me here on episode
(01:29):
five of the smorgasbord with John Kanopuk,Canadians, tariffs, and chaos.
Oh my.
That's for George Takei fans out there.
But we're gonna dive into the first segmenthere in just one moment.
Thank you guys so much for tuning in.
This is the smorgasbord with Jon Knoppik, andwe'll be right back.
Stick around.
Hey there, smorgasbord listeners.
(01:50):
Whether you're here for wrestling SmackDowns,wild conspiracy theories, political hot takes,
or just my questionable life advice, I want tohear from you.
Hit me up on social media at Smorgasbord JK, orgo full keyboard warrior, and email me at
john@kanoppockventures.com.
Your message might just make it onto the show.
Unless it's about pineapple on pizza, then youmight wanna rethink your life choices.
(02:15):
Don't be a stranger.
Now let's get back to the chaos on thesmorgasbord with John Kanoppock.
Okay, guys.
Welcome back to the smorgasbord.
I am, of course, John Kanopik.
Thank you guys very, very much for tuning in tothis fifth episode.
Can't believe we're already five episodes in,and we've got we've dived into everything on
(02:36):
these podcasts from my upbringing to trauma andresilience to a little bit of wrestling to a
little bit of everything.
And now we're gonna be diving into somepolitical stuff.
My intention, just so you guys know for alittle game planning here, is to eventually set
it up so once a week or for I'm sorry.
I'm sorry.
One episode per week until we decide we wannado more.
(02:57):
One episode per week, we're gonna bedesignating each each week to a certain style
of topic.
Like, for example, we're gonna have one weekthat's gonna be completely set up for wrestling
related themes and topics and discussion.
One week is gonna be all about politicallandscape and current events and things like
that.
Another one, another week is gonna be divinginto conspiracy theories.
(03:21):
We'll even have a week for you guys, thelisteners, to give us some much needed feedback
and help us design future episodes.
Plus, we're eventually gonna be rolling outsome actual interviews in amongst those
episodes as well once I feel a little moreconfident and able to muster up the courage to
actually start interviewing people and expertsin those different fields.
(03:43):
So a lot of things on the horizon, guys.
Definitely stick around.
Stay tuned.
Tell all your friends.
Get us some more viewers and feedback and allthose goody goody goody things out there.
But let's get into this week's episode again.
It's called Canadians Tariffs and Chaos.
Oh my.
Now let's start with the big headline, shallwe?
Canada has in case you haven't been living forIraq and weren't exactly aware of what was
(04:07):
going on in the world, Canada actually has anew prime minister, and it's not your typical
politician, much the same way The United Stateswent that exact same route in 2016 and again
here in 2024, even though in 2020, we all knowwhat happened with that election.
Now this this nonpolitician's name is MarkCarney.
Now if you're not a finance nerd, you might bethinking, who?
(04:31):
But let me paint you a picture.
Imagine you're at a family reunion, andeveryone's arguing about who should take over
the family business or in my wife's family'scase, the Sopranos.
Suddenly, your cousin Mark, who's been offrunning the finances for some of the biggest
companies in the world, strolls into the familygets together, and everyone just kind of stops
(04:54):
and stares at him.
Like, what are you doing here?
That's basically what happened in Canada thisyear.
But here is what sets Carney apart, and it'sabsolutely 100% making waves.
He's not shy about his skepticism towards TheUnited States as you can be well aware.
He was if you've been paying attention towhat's going on up there to our neighbors to
(05:17):
the north, you can definitely see somefractures on both sides of the aisle here.
He said more than once that Canada needs tostop playing second fiddle to its southern
neighbor.
Good luck with that.
He's openly criticized US trade tactics,calling them Canada's or shortsighted and
damaging to allies.
(05:38):
In his first press conference as primeminister, he even said, and I quote, Canada's
future will not be dictated by Washington'swhims.
That's not a good way to start off your tenurethere, mister Kearney.
It's a pretty bold stance, actually, especiallyfor a country that's so economically tied to
The United States.
It's not even funny.
(05:59):
Now Kearney's not just any cousin, though.
This is also a guy who's not just run the Bankof Canada, but also the Bank of England.
You heard me right.
The Bank of England.
It's like being the head coach for the TorontoMaple Leafs and Manchester United at the same
time.
He's got a Harvard degree, a doctorate fromOxford, and a reputation for being the calmest
(06:22):
guy in the room when things get dicey.
He sounds believe it or not, in certainaspects, he absolutely sounds like our current
leader right now.
When the going gets tough, he's cool and calmunder pressure and cool and calm as a cucumber,
so to speak.
Remember the 2,008?
Some of you might, some of you might not.
(06:43):
Carney was actually the guy who helped Canadadodge the worst part of that.
Then when Brexit, the the exit strategy of TheUK happened over there, He was actually over
there steadying the ship at the Bank ofEngland, making sure they were able to wide
ride the waves and not get totally toppled byeverything that was going down in The UK's
(07:05):
political landscape.
The Financial Times even called him the world'smost influential central banker.
That was a big, big, big words and big shoesfor him to to fill.
So how did this guy end up exactly as primeminister?
Well, after nearly a decade in power, JustinTrudeau, we all know how amazing of a guy he
(07:27):
is, stepped down earlier this year.
The liberals were looking for a fresh face,someone with credibility, unlike our liberals
here who put the most major of wackadoos at theforefront of their ticket, and you've seen
what's happened because of that.
And Carney actually did fit the bill for thoseliberals up there in Canada, but here's the
(07:50):
twist.
Carney's not a career politician, just like ourleader right now.
He's a technocrat, numbers guy, and now he's inthe political ring where the punches are a lot
less predictable than the world of finance.
So if you think about it in kind of a weirdway, it'd be kind of like Elon was actually
president because, obviously, he's not a careerpolitician, but in the tech space, he is, like,
(08:13):
exceptional at what he does.
And also with, Carney's open distrust of USmotives, Carney's already set a new tone for
Canada's foreign policy.
He's been quick to remind Canadians thatrelying on The United States absolutely has its
risks, especially when Washington's prioritiescan change overnight.
He's even floated the idea of building strongerties with Europe and Asia to reduce Canada's
(08:39):
dependence on American markets.
Now let's pause for a second, if you indulgeme.
Imagine that you're Kearney stepping into theprime minister's office for the very first
time.
You've got a country up there that's tired,anxious, and clamoring and just begging for
(09:01):
answers.
The economy is definitely not on stable terms,very shaky.
The climate debate is absolutely raging, andevery move you make is gonna be under a very
high powered microscope.
Would you feel excited?
Would you feel terrified?
Maybe skited, scared, and excited combined?
(09:22):
Patent pending.
Would you be willing to risk a fight with TheUnited States, your big brothers to the to the
South, if you thought it was the right thingfor your Canadian brethren?
And in my estimation, you gotta be verycautious, especially with who's in power now.
Now this was the old regime, the one whoshouldn't have been in there in 2020 in the
(09:45):
first place.
He might have had better luck with what he wastrying to push.
But because we've got Trump back in office,yeah, he's gotta be way more cautious with the
way he approaches things when it comes toUnited States negotiations and relations.
Now his first big move as prime minister, youask?
Well, he scrapped the consumer carbon tax.
(10:09):
That's a huge deal up in Canada, especially outwest where the tax was about as popular as a
snowstorm in July.
Instead, what he did was he kept the industrialcarbon tax, which targets big polluters but
leaves regular folks off the hook, which is agood thing.
Supporters say it's a relief for familiesstruggling with high costs, but environmental
(10:30):
groups are furious, warning that it could setback Canada's climate goals.
Makes sense.
Now let's switch a little bit and talk aboutthe economy up there.
And now inflation in Canada is sitting at aboutroughly 4.2%, Not as bad as some places, but
still a real squeeze for a lot of people.
(10:51):
Food prices are up, rent is up, and theCanadian dollar has dropped about 6% against
the United States dollar since January, soquite a bit in just the last four months.
That means everything from electronics togroceries is more expensive if it is imported.
Unemployment is also unfortunately up there aswell, now at 6.1%, with manufacturing and
(11:19):
agriculture taking the biggest hits.
What does Carney do?
What is what is his game plan?
What what's his response to this?
Well, he's launched what he calls a team Canadaapproach.
He's brought together premiers from everyprovince, indigenous leaders as well, and
business executives on top of all of that totry and find a way through this mess to get out
(11:43):
of the the thick of it.
He's also promised to invest $10,000,000,000 ingreen infrastructure and clean tech, aiming to
create 100,000 new jobs by as soon as 2027.
But, unfortunately, for him, the politicallandscape is very, very rough.
The liberals are hanging on with a minoritygovernment.
(12:05):
The conservatives under Pierre Poultervaire arehammering Kearney left and right on
affordability and energy, and the NDP and theblock, they're well, they're gonna be they are
actually pushing for more action on housing andclimate.
Now, guys, let's get real for a second, shallwe?
(12:25):
If you were in Carney's shoes at this point intime, would you risk with all of that going on,
would you risk angering The United States tostand up for Canadian interests, knowing
everything else that's going on in your in yourcountry, or would you try to keep the peace
even if it meant swallowing some very, verytough pills?
And what about the that Team Canada approachthat he has?
(12:46):
Do you think it's possible to even get all ofthe premiers, business leaders, and indigenous
voices all pulling in the same direction?
It's a little far fetched.
It even goes far as to say it's very politicalwishful thinking if you think about it.
Now Carney's approval rating, it did startstrong, 58% just in March alone according to
(13:11):
Angus Reid, but it's already slipped down justtwo months, less than two months, to 51% as the
economic pain really starts to set in.
Western premiers are very happy about thecarbon tax rollback, as we mentioned before,
but environmentalists are calling it a very,very, very fierce betrayal.
Chamber of Commerce likes Kearney's focus onstability, but warns that trade disruptions
(13:35):
could derail everything.
Now let's dig a little deeper, if we will,here.
Kearney's background is fascinating to me.
He grew up in the Northwest Territories, sohe's no stranger to the challenges of rural and
northern life as the majority of the provinceup there deals with.
He's worked in the private sector at GoldmanSachs as well as in the public sector at the
(13:58):
highest levels, as we mentioned, Bank ofCanada, Bank of England.
He's seen the world from boardrooms and fromthe roots of Canada, so he's covered all ends
of the spectrum.
Now that does give him a hugely uniqueperspective, but it also means he's got a lot
of expectations to manage.
And here's where I wanna bring you guys in,listeners.
(14:19):
Imagine once more time that you're in Carney'sshoes.
You've got the world's eyes on you, you've gota minority government, and you've got a country
that's feeling the pinch.
What I want you guys to think about, and let meknow your comments, do you double down on
climate action, or do you try to ease the costof living for regular folks?
(14:40):
Which way do you go?
Is Carney's technocratic style what Canadareally needs right now, or is he too much of a
numbers guy for the rough and tumble world ofpolitics, especially Canadian politics?
And with his own open skepticism of The UnitedStates not being shy about that, is he
protecting Canada's interests, or is he riskingtoo much by literally poking the bear?
(15:04):
And would you guys scrap the carbon tax?
Would you guys have scrapped it, or would youguys have kept it going?
And if you would have kept it going, would youhave doubled down on climate action even if it
meant higher costs at the pump for people?
Hit me up on social media at smorgasbord j k,get them all switched over, or
(15:24):
John@CanopicVentures.com, or, you know, send mea voice memo.
I wanna hear your take on this.
I wanna know what you guys think.
Give me your thoughts as if you were Kearney.
How would you handle all of the crises going onup there right now?
What would be your your blueprint for gettingthem out of the sticky wicket that they're
currently in?
Now, let's not forget one more thing, guys.
(15:46):
This is not just about policy, it's abouttrust, because if you don't got the trust,
you're never going to make it.
Canadians are looking for someone that couldsteer that ship through very rough waters,
getting choppier by the day.
Will Carney be that leader, or will thepressures of politics be too much even for a
world class banker?
(16:07):
Now, guys, we're gonna take a little break hereas we've been taking a break here after our
first segment.
Next segment we're gonna be diving into isgonna be dealing with the economic crossroads
up there in our neighbors to the north up inCanada regarding tariffs, trade, and
turbulence.
So I'm gonna take another quick little breakhere.
We'll be right back here on the smorgasbordwith Jon Knoppik.
(16:28):
Thank you guys so much for tuning in, and we'llbe right back after this ad break.
Stick around.
Hey there, smorgasbord listeners.
Whether you're here for wrestling SmackDowns,wild conspiracy theories, political hot takes,
or just my questionable life advice, I want tohear from you.
Hit me up on social media at smorgasbord j k,or go full keyboard warrior, and email me at
(16:50):
john@kanoppockventures.com.
Your message might just make it onto the show.
Unless it's about pineapple on pizza, then youmight wanna rethink your life choices.
Don't be a stranger.
Now let's get back to the chaos on thesmorgasbord with John Kanoppock.
(17:10):
Alright, guys.
Welcome back to the smorgasbord with JohnKanopik.
Thank you guys so, so much for tuning inwherever you're listening to this app or even
if you're viewing it on YouTube.
Thank you guys so much.
Greatly appreciate it.
Again, I appreciate all feedback that you guyswant to send my way on all social media
channels.
It's at smorgasbord J K or shoot me an oldschool email, johncanopicadventures dot com.
(17:37):
Let's get into the weeds on the economy, shallwe?
Because this is where things get reallyinteresting, and honestly a little scary.
Now Canada's economy, as I've mentioned, isfacing a perfect storm right now.
You've got US tariffs.
You've got Chinese retaliation.
They're not happy either.
(17:58):
And a whole lot of global uncertainty allcoming together to create a nice cornucopia of
fear and unease.
Now this is where Carney's attitude towards TheUnited States really comes into play.
Unlike some of his predecessors, like Trudeau,he's not afraid to call out Washington's
(18:20):
America First policies.
In fact, he's gone on record saying that,quote, Canada can't afford to be bullied by our
biggest trading partner, being The UnitedStates.
That's a very bold move, Cotton.
Let's see if it works out for him.
Dodgeball reference.
But it is a bold move, especially when youconsider that about 75% or so of Canadian
(18:42):
exports still go into The United States.
Let's start with The United States in January.
President Trump, yes, he's back in the WhiteHouse, guys, for those of you who've been
living under a rock, and we're very happy tohave him back.
He slapped a universal 25% tariff on allCanadian imports.
(19:02):
Now if you if you do a little digging and youlook at some numbers out there in the current
landscape, you'll actually see that Canada hasbeen tariffing putting tariffs on The United
States for quite a long time, and those numbersare exceptionally higher than what we're trying
to tariff them.
So it's not as if this tariff situation is abrand new concept.
(19:25):
It's been around for quite a while, and we'vebeen getting hurt a lot worse than we're
currently in the process of hurting them.
Now the official reason for Trump imposing thatuniversal 25% tariff on Canadian imports, you
ask?
National security and unfair trade practices,which ties back into how Canada has been
(19:46):
tariffing the crap out of us.
But let's be real, guys.
It's always going to be with Trump in office,and we love this part.
It's always gonna be about putting AmericaFirst and squeezing Canada for concessions
because they've been trying to squeeze us.
Carney's response to that, well, it was swift,and it was sharp.
He called the tariffs an act of economicaggression and fired back with his own
(20:11):
increased tariffs on United States goods suchas steel, aluminum, agricultural products, you
name it.
And the result?
How well did that work out for?
Well, Canadian exports to The United Stateshave dropped 18% in the first quarter of twenty
twenty five compared to last year.
Gee.
Why could that be?
(20:31):
That's not just a number, guys.
That's factories cutting shifts, farmers losingmarkets, and small towns feeling the pinch.
I'm going go ahead and break that down for youguys.
Imagine that you're a factory worker over in,let's say, Windsor, Ontario, a place I've been.
It's a very beautiful city.
You've been making auto parts for years, maybedecades.
(20:55):
Your entire life or at least your adult life,if not more than that, especially if it's a
family owned business, has been tied to thatauto making those auto parts and your your
livelihood depends on it.
Suddenly, plant manager decides to call ameeting.
Orders are down, costs are up, and layoffs arecoming.
(21:17):
It's just the nature of the beast,unfortunately.
Or, you know, let's let's give you anotherexample.
Let's say you're a farmer in Saskatchewan,totally different province, watching your
canola crops rot because, you know, there'snowhere to sell it.
Where where is it gonna go?
(21:37):
You have you have nowhere to sell it becausepeople aren't buying it because of the high
cost to import it down here.
So you're stuck watching it just wilt away.
See, these aren't just numbers, guys.
They're real people, real families, realcommunities, real life situations that are
(21:58):
affecting every single aspect of the humanexistence, especially up in Canada.
Now it's not just The United States.
It's not just China, which used to be a hugemarket for Canadian canola, pork, and seafood
that's hit back with their own tariffs.
(22:20):
Canola exports to China, for example, whichwere worth $2,700,000,000 with a b dollars a
year are expected now to fall below$1,500,000,000 by the end of twenty twenty
five.
That's almost a 50% decrease.
Seafood exports are down 30% since the newtariffs hit, and that's devastating the fishes
(22:44):
over in Atlantic Side Of Canada, on the FarEast Side.
The government has announced $2,000,000,000 inrelief for these affected industries, but
everyone knows that that's just a band aid whenyou're dealing with an amputation.
It's not going to be the cure.
It's not going to plug the leak.
(23:06):
And while we're mentioning seafood and canolaand other things like that, let's talk about
grocery bills for a moment.
Food prices in Canada are up 7% year over yearwith, again, the big ones being canola oil,
pork, and seafood seeing the largest of thosejumps.
(23:26):
The housing market, it's cooling off a littlebit up there.
Average home prices in Toronto are still astaggering over $1,100,000 for an average home
in Canada.
That is just insanity.
But the weirdest part is, and the most shockingpart, they're actually down 4% from last year,
(23:49):
so you were closer to over 2,000,000 on anaverage before then.
The Bank of Canada is keeping interest rateshigh though at 5.25% to fight inflation, but
unfortunately, that's making it harder forpeople to be able to afford homes or invest in
new businesses and try to get things backgoing.
(24:11):
Now Kearny's government is trying to find anynew avenues, any new streams, any new markets,
Europe, Japan, even India, but those deals,unfortunately, are not done overnight.
They take time, and they can't fully replaceThe United States and China, the two biggest
players on the planet, obviously.
(24:32):
The conservatives are saying that Kearney isbeing way too confrontational with The United
States.
I can see that, especially with who we have asour leader.
While the NDP wants more support for itsworkers and a windfall tax on companies
profiting from inflation.
Now public opinion on this, you ask?
Well, it's split.
The 47% of people out there support Carney'stough stance, while the other while 42% want a
(24:58):
more conciliatory approach according to Ipsos,and 11% couldn't be bothered to be uphold to
them.
Now I'm gonna pause again and give it back toyou guys here.
If you were in charge, knowing what you knownow about the prices and inflation and
percentages and things, Would you stand up toThe United States and China, or would you try
(25:23):
to make peace even if it meant, again, toughcompromises?
Do you do you guys really think that, you know,Canadians could really diversify its trade, or
are we just too tied to our giant are you guysjust too tied to your giant neighbors down
here?
And what about the people caught in the middle?
What about them?
(25:43):
How do we make sure they don't get left behind?
Another solid question that needs to beanswered.
Finally, let's get into some specifics.
The auto sector is a beautiful example.
Ontario and Quebec both rely on cross bordersupply chains.
(26:04):
When tariffs go up, of course costs go up, andsuddenly it's cheaper to make cars elsewhere.
We've already seen the production cuts andtemporary layoffs at major plants, and guys,
it's not just cars.
Everything from lumber to maple syrup, it's allbeing caught in caught in the crossfire.
(26:24):
And also, let's not forget those lovely, lovelyripple effects.
When one sector takes a hit, it affectseverybody as a whole.
Truck drivers, warehouse workers, even thelocal diner where the workers grab their
lunches.
It's a domino effect, and it's happening,unfortunately, in real time.
(26:45):
Now if you guys happen to have a story abouttariffs or how maybe trade wars have affected
you or your business, or, you know, you'retrying to get a startup going, but you're not
able to for reasons tied to these, I want tohear about it.
Drop me a line on all social media platforms atsmorgasbordjk, Shoot me an email,
john@canopicventures.com, or if you want to andyou feel need, send me a voice memo.
(27:10):
Again, you know, this is your smorgasbord,guys.
I'm giving you the menu.
You guys get to gobble it up, and if you wannagive me some menu ideas as well, give me your
feedback, I will be more than happy to takethat and run with it.
Now we're gonna take another little break here,guys.
We're gonna be switching away from Canada andheading down to The down here to The United
(27:31):
States to start talking about The United StatesChina tariff war and the global power struggle
that's going along with it.
Gonna take a little break.
Gonna start that segment next year.
You're listening to the Smorgasbord with JohnKanopik.
Thank you guys so much for tuning in, and we'llbe right back after this quick ad break.
Stick around.
(27:51):
Hey there, Smorgasbord listeners.
Whether you're here for wrestling SmackDowns,wild conspiracy theories, political hot takes,
or just my questionable life advice, I want tohear from you.
Hit me up on social media at smorgasbord j k orgo full keyboard warrior and email me at
john@canopicventures.com.
Your message might just make it onto the show.
(28:12):
Unless it's about pineapple on pizza, then youmight wanna rethink your life choices.
Don't be a stranger.
Now let's get back to the chaos on thesmorgasbord with John Kanopik.
Alright, guys.
Welcome back.
Thank you so much for tuning in.
This is the smorgasbord with John Kanopik.
I, of course, am John Kanopik.
(28:33):
We've been discussing the Canadian turmoilsituation with the new prime minister Carney up
there along with their tariff and financialstruggles.
But now we're gonna take a little shift here,and we're going to zoom out from Canada and
talk about the main event that's on the worldstage right now from a financial standpoint.
(28:54):
The ongoing and that is, of course, the ongoingtariff war between The United States and China.
And of course, guys, this is not just aboutCanada being squeezed.
This is a global power struggle that's beenbuilding and building and building for years.
The United States China trade war really kickedoff back in 2018 during Trump's first term in
(29:18):
office.
It all started when Trump started slappingtariffs on hundreds of billions of dollars in
Chinese goods.
Now there was a brief truce in 2020, but by2023 and 2024 last year, things were starting
to heat up once again.
Of course, as things like this go, both sideswere accusing one another of unfair trade
(29:43):
practices, intellectual property theft, and aswell as currency manipulation.
Now let's fast forward to this year, 2025, andThe United States has expanded tariffs to cover
almost all Chinese imports, with rates rangingfrom 10% all the way to 50% on things like
electronics, steel, and even solar panels.
(30:05):
Though yeah, that's right guys, even solarpanels are being are being taxed or tariffed
and have their prices jacked up.
Now let's talk numbers, shall we?
United States imports from China have droppedfrom $540,000,000,000 in 2018 down to
$370,000,000,000 in 2024, so it's a drop ofabout lower 30%.
(30:29):
Chinese imports from The United States havefallen from 155,000,000,000 down to
110,000,000,000, so again, it's about a 30%drop.
The average tariff rate on Chinese goodsentering The United States is now roughly
around 25.9%, up from just 3.1% in 2017, soquite a bit of a jump.
(30:55):
Now China, of course, they're not going to sitidly by and allow this to happen.
They've hit back with tariffs on The UnitedStates, tariffing things such as our
agricultural products, our automobiles, as wellas our technology.
And they've restricted exports of criticalminerals like rare earths, stuff you need in
everything from smartphones to electric cars,things that are a critical component.
(31:20):
Now you're gonna ask, what is the impact of allof this?
What does this all mean?
Well, for American consumers, prices forelectronics, as you can tell if you've been
shopping anywhere, Best Buy, Walmart, Target,you name it, prices for electronics,
appliances, and even some clothing are up fiveto 12%.
(31:42):
Farmers in the mighty Midwest, like where I'mfrom in Iowa, have lost unfortunately an
estimated $28,000,000,000 in exports to Chinasince 2018, with soybeans, pork, and corn
taking the most gigantic of hits.
Now some United States manufacturers, they'veactually benefited from less Chinese
(32:04):
competition, but a lot of them unfortunatelyrely on Chinese components, like those rare
rare earth things we mentioned earlier, sotheir costs have gone up as well.
And again, as I had said before, China is justthey're not sitting back on this, not not in
the slightest.
They're investing heavily in domestic tech aswell as manufacturing, trying to become even
(32:27):
more self reliant than they already are, whichis a scary prospect to think about.
GDP growth in China has slowed to 4.5% in 2024,down from 6.1% in 2019 according to the World
Bank.
Now Chinese companies are moving production toplaces like Vietnam and Mexico, as we all know
(32:51):
what we've been hearing the the articles andthe video clips about what Trump's planning on
doing if, you know, they try to import Mexicotries to import those vehicles in The United
States that were made in China.
Not gonna end well.
But, yeah, they've they've tried to do it inVietnam as well as in Mexico to dodge the
(33:14):
tariffs in The United States, but they've cometo find that that's really been a lot more
expensive and as well as disruptive.
Politically, as I said, Trump says the tariffsare necessary to protect American jobs and
counter China's economic aggression.
Critics, including a lot of US business groupsand economists, say tariffs are basic or trying
(33:38):
to say that tariffs are basically attacks onconsumers and really haven't changed China's
behavior.
But if you look at it, tariffs are not going tobe something that you'll see the immediate
positive impacts on.
They are going to take time for that to reallyshow their true colors.
Even the World Trade Organization has ruledthat some US tariffs violate international
(34:01):
rules, but enforcement is weak.
Now there are gray areas in there, so it's notlike they're intentionally skirting things.
The IMF estimates that the trade war has shavedhalf a percent off of the global GDP growth
since 02/2018, and that's quite a significantnumber.
Now it's not just The United States and Chinahere, guys.
(34:26):
Other countries like the European Union, Japan,Australia, they're all caught in the middle of
this battle going on between the two bigsuperpowers.
They're facing pressure to pick sides or risktheir own trade relationships.
Basically, if you're not going with mama ordata, you're going to get blitzed either way by
(34:46):
one or the other.
In 2025, the United States has imposed newexpert controls on advanced semiconductors and
AI tech, again citing national security.
China responded by restricting imports of thoserare earth elements and other critical
(35:06):
minerals.
Talks between the two sides unfortunately havestalled quite a bit, and both governments are
blaming each other for the impasse, as theywill do.
Neither one of them wants to own up and takeresponsibility.
And that's right.
Let's let's let's take another little trip intothe into the multiverse, if you will.
(35:32):
Let's say you're a business owner in Germanythis time or Brazil or even India.
Do you pick a side?
Do you go with The United States?
Do you go with China?
Or do you try to be like Swiss, the Swiss, andstay neutral and just fingers crossed, hoping
for the best?
What happens if the world really does splitinto rival economic blocs with different rules
(35:55):
and different standards.
Does that make us safer or does it just make usmore divided?
While you're thinking about that, think aboutthis: Are tariffs actually working or are they
just making everything more expensive foreveryone?
Again, as I had mentioned, it takes time fortariffs to really show benefit.
At the beginning, it's going to seem like apinch, but in the long run it becomes more of a
(36:18):
benefit than a hindrance.
Now, how should other countries navigate thisrivalry?
Are the other countries?
How are they going to pick sides?
Are they going to pick a side?
Will they even pick a side?
Are they just going to stay neutral?
And what happens if the world really doessplit?
If you're listening from outside North America,if you happen to be tuning in from one of these
(36:41):
other countries, I want your perspectives aswell, guys.
I wanna know what would you guys feel from thespots outside of The States here.
How is this trade war playing out in yourcountry?
How are you guys being affected by what's goingon between The United States and China?
Are you guys seeing higher prices where youare?
Job losses?
New opportunities?
You know what?
What are you guys feeling where you'relistening in at?
(37:04):
Let me know.
Smorgasbordjk or johncanopicventures.com.
We're going to take another quick little breakhere, and when we come back here on the
smorgasbord with John Kanopik, we're going todive into the human side of tariffs and how
they affect real people and real businesses.
(37:25):
This is the Smorgasbord with Jon Knoppuk.
I am Jon Knoppuk.
We'll be right back after this quick ad break.
Thank you guys so much for tuning in, and we'llbe right back.
Stick around.
Hey there, Smorgasbord listeners.
Whether you're here for wrestling SmackDowns,wild conspiracy theories, political hot takes,
or just my questionable life advice, I want tohear from you.
(37:47):
Hit me up on social media at smorgasbord j k orgo full keyboard warrior and email me at
john@canopicventures.com.
Your message might just make it onto the show.
Unless it's about pineapple on pizza, then youmight wanna rethink your life choices.
Don't be a stranger.
Now let's get back to the chaos on thesmorgasbord with John Kanopik.
(38:11):
Alright, guys.
Welcome back to the smorgasbord with JohnKanopik.
I am John Kanopik.
Thank you guys very, very much for tuning inwherever you're listening to your podcast, be
it Spotify, be it Apple, Amazon, iHeart,wherever you may be listening, or if you're
catching me on YouTube, hope you're enjoyingthe show.
Now let's bring it down to earth for a minute.
With all of these numbers and all of thesepolicies, the tariffs, the trade wars, the
(38:37):
political maneuvering, the posturing, the malegenitalia showing, trying to say, Mine's bigger
than yours, etcetera, etcetera.
What they don't realize, or I'm sure theyrealize, but when they're so blinded by their
(38:59):
tunnel vision, they don't truly understand, isthe fact that all of this has real impacts on
real people, both in Canada as well as aroundthe globe.
Now I'm going to go back to the Canadianfarmers again.
Out on the prairies, canola and pork are facingbankruptcy, unfortunately, as exports to China
(39:22):
dry up and show no sign of recovery.
The Canadian Federation of Agriculture, itactually says that 12% of family farms are at
risk of closure this year.
Nearly over 10% of family farms are at risk forbeing shut down.
That's not just a statistic, guys.
Unfortunately, that is families losing theirlivelihoods, small towns losing their main
(39:45):
employers and having to shutter up otherbusinesses, and a way of life directly under
threat by all of this going on.
Fishers in Atlantic Canada are seeing thoseincomes, as I mentioned, drop by 20 to 30% as
Chinese demand for lobster and crab collapses.
Up in Ontario, in Quebec, in Manitoba, and evenin Alberta, factory workers are facing layoffs
(40:12):
as Ottawa power plants are cutting shifts or insome cases just shutting down entirely.
You know?
And even still, and it's not just Canada, guys.
The United States down here, our farmers havelost billions in exports, leading to a spike in
farm bankruptcies in the Midwest.
(40:33):
I have quite a few people that I know who hadfarms that were thriving, now they're barely
able to stay afloat because of everythingthat's been going on with this.
So it is hitting them exceptionally hard, andit's not just them.
Us here, Us Us consumers are feeling the pitch.
We're paying more from everything from washingmachines to smartphones to gas to eggs, you
(40:56):
name it.
We're getting blitzed ourselves.
Some United States manufacturers, a very, verysmall minute amount, have actually benefited
from the Chinese competition.
But again, they mainly rely on those Chinesecomponents and they're struggling with the
higher costs.
Now you're saying to yourself, well, we knowabout The United States and Canada, but how is
(41:18):
this affecting China?
Are they getting hit too?
Well, in China, Exporters are shiftingproduction to Southeast Asia, but a lot of
small businesses over there have closed aswell.
Chinese consumers, just like us here, they'repaying more for United States goods, and some
American brands have lost complete marketshare.
(41:38):
The government is trying its hardest andconstantly pouring money into this domestic
innovation, but growth has slowed and they'restarting to feel the pressure finally, and it's
really starting to take a hit.
Globally, companies are de risking, as theycall it, by moving production out of China, but
(42:00):
of course, you know, that's not something thatcomes cheap.
It's very expensive as well as time consuming.
The cost of shipping, logistics, it's gone updramatically as well, and that adds to
inflation everywhere.
Some countries like Vietnam, Mexico, Japan,they're seeing new investments, but others are
(42:22):
struggling to adapt.
And then we can't forget the social andpolitical fallout.
Now can we, guys?
Rising prices and job losses are fuelingpolitical anger and polarization.
It's made the party lines here even more deepand more separated.
When we're trying to bring the countrytogether, this is doing the exact opposite.
(42:46):
Populist parties are gaining ground bypromising to protect jobs and stand up to
China.
International cooperation is breaking down,though, too, with more countries tuning to
protectionism, and in some cases just sayingscrew it and go in it alone.
Now.
If let's say for a second, let's say you guysare listening to this while you're driving to
(43:08):
work or you're on the subway commuting in to toyour job, wherever wherever you're having to do
your nine to five.
Or let's say, you know, you're you're gettingready to to feed your family for the night.
You're you're set up around you're gettingready to set up around the dinner table and
you're listening to this this episode.
Or, you know, let's say you've had a reallystressful day at work and you're just trying to
(43:31):
unwind.
You're tuning into me spouting off my mydiatribe about the current economical situation
around the globe.
Thank you for tuning in, by the way.
Have you guys noticed in all in all aspects?
Have you guys noticed that your grocery billhas slowly started creeping up a bit, even
though it went down for a little bit, but nowit's starting to creep up again.
(43:54):
You know, maybe because of that, you've had toput off a big purchase, like you wanted to go
on a family trip somewhere, or you know, youwanted to finally be able to buy your forever
home, or you know, you wanted to start your ownbusiness, but you're having to put that off.
You know?
Or maybe some of you are at home struggling andconcerned about your job and making sure you
(44:16):
even have something to go to the next day.
These again, all of these guys, these aren'tjust headlines.
They're not just attention grabbing phrases.
It's real everyday struggles that's affectingall humans on the planet.
And how do we balance these national interestswith the need for global cooperation?
(44:42):
How do you make it both work?
How do get the scales to even out?
You know?
By doing this, by by for the people in power,by doing this, are you guys forcing ordinary
people to pay the price for your powerstruggles?
Because if if that is the case, you're reallynot gonna be able to gain the trust back of
(45:04):
your constituents or those that you've you'vesworn to protect.
You know, you're not gonna earn that back.
And if in some cases, if it's an electioncoming up like next year during the midterms,
you could very well lose your spot altogether.
You know?
And while you're thinking about that, thinkabout this.
What can be done to support workers andcommunities caught in the crossfire?
(45:28):
How do you shield them?
How do you keep them afloat?
How do you keep what is the cornerstone of whatmakes these countries what they are?
You know, how do you keep them afloat?
How do you protect them?
Now if you guys have a story about how tariffs,trade wars, again, as I said, do you have any
(45:49):
stories about how they how things have affectedyou?
I want to hear them.
I wanna hear I need the feedback, guys.
I want to know what your thoughts are on thecurrent landscape of the world from an economic
standpoint, as well as from a politicalstandpoint.
Let me know your thoughts.
Smorgasbordjk on all social medias orjohn@canopicventures.com.
(46:11):
Again, guys, this is your smorgasbord as well.
These plates are being filled by your meat justas well as they're being filled by mine.
So let me know what you guys think, And yeah,let's keep the conversation going.
Let's let's build a dialogue about this.
Let's see if we can brainstorm some ideas thatwe could possibly pass on to our local
congressmen or something, you know, even thoughthey probably don't listen, but you never know.
(46:36):
But we're gonna take another little break dive.
We need a need a little recharge here.
And the next segment we're gonna be diving intois gonna be the one about the road ahead.
Let's look into the crystal ball, shall we?
Solutions, risks, what to watch for.
Let's let's take a deep dive into what's what'sto come.
Alright?
We're gonna be back here in just one moment.
(46:56):
We're gonna take another quick ad break.
This is the smorgasbord with John Kanopik.
I am John Kanopik.
Thank you guys very, much for tuning in, andwe'll be right back here after this quick ad
break.
Stick around.
Hey there, Smorgasbord listeners.
Whether you're here for wrestling SmackDowns,wild conspiracy theories, political hot takes,
or just my questionable life advice, I want tohear from you.
(47:18):
Hit me up on social media at smorgasbord j k orgo full keyboard warrior and email me at
john@canopicventures.com.
Your message might just make it onto the show.
Unless it's about pineapple on pizza, then youmight wanna rethink your life choices.
Don't be a stranger.
Now let's get back to the chaos on thesmorgasbord with John Kanopic.
(47:43):
All right, guys.
Welcome back.
Thank you guys so much for tuning in.
This is the smorgasbord.
I am John Kanopik.
Really greatly appreciate you guys listeningwherever you're getting your podcasts from, or
if you're watching me on YouTube, thank youguys very much for tuning in on here as well.
So now as I was saying, let's look at the roadahead.
Let's let's dive into the crystal ball.
(48:04):
Let's let's hop in our DeLorean, fire up theMr.
Coffee maker and the flux capacitor, and let'ssay to ourselves, guys, where do we go from
here?
Both Canada and the world, we're at acrossroads right now.
We're at a we're at an impasse.
The choices made in the next few years aregonna shape the future for a very long time and
(48:28):
possibly for generations to come.
In the case of Canada, Mark Carney's governmentis betting on economic diversification, green
investment, and a Team Canada approach.
As we've mentioned, they're trying to focus oncountry first.
Success for them will depend on finding newmarkets, making sure that their workers are
(48:52):
completely 100% supported, as well as keepingthe public trust.
Got to have the balance of both of those.
Now the next federal election, guys, it'sactually less than two years away.
Unlike here, they do theirs a lot morefrequently, And that political landscape at
this point in time is very, very volatile.
(49:15):
So unlike down here in The States where youhave the four years to try and stabilize things
and get things more on a positive track upthere, They're they're they're rail.
The railroad tracks is much, much shorter.
Now, you know, if Kearney can't deliver hisresults that he's been promising, voters might
(49:39):
turn to more populist alternatives, and Iwouldn't be shocked if they did.
Looking at The United States and China side ofthings, this tariff war, unfortunately, shows
no sign of ending.
Even though president Xi and president Trumphave promised to embark and take on more
negotiations and try to hammer out a deal, ithasn't quite come to fruition as of yet.
(50:05):
There were some threats that President Xi wasgoing to do, but after speaking with Trump and
things, he rolled back on those as herightfully should have.
Both sides, as you can tell, they're diggingin.
Digging their heels in.
They're not gonna let up on this.
And the risk of escalation into technology,finance, or at the worst aspects, military
(50:32):
confrontation, it's real, guys.
It's very real, and it's a scary prospect tothink about military confrontation with China,
something we do not ever want to get involvedin.
The global economy, in addition to what Canadaand The United States and China are dealing
with, global economy as a whole, it's at riskalso of fragmenting into rival blocs with new
(50:57):
rules and alliances.
The IMF, the World Bank, they're calling forrenewed international cooperation.
Kumbaya.
Why can't we be friends?
All hold hands and let's all get on the samepage.
Unfortunately for them, the trust in makingsure that that becomes a real thing is very,
(51:18):
very, very low.
Climate change, pandemics, both lab made andotherwise Wuhan, and technological disruption
are adding new layers of complexity, making iteven harder to accomplish those goals.
Ordinary people, workers, farmers, consumers,small business owners, they're demanding
(51:43):
solutions as they should, not just slogans.
Stop blowing smoke up people's backsides andgive us real results, real, tangible, positive
outcomes.
And while we're here in our nice, warm, comfyDeLorean, let's go a little bit further into
(52:05):
the future, shall we?
You know, will Carney's technocratic approachwin over Canadians?
Can we see him winning over the hearts of allCanadians up up there, or are voters gonna just
say, screw this.
You're not giving us anything.
It's all claptrap, not borderlands.
And they look for something different or popdifferent populist alternatives.
(52:30):
Can The United States and China finally find away to coexist, something we need, or are we
heading for a new cold war, which would bevery, very bad, especially because China is
more powerful than what Russia was back then.
That would be very scary to think about, andespecially with having a young child, you don't
(52:52):
want to think about a world like that.
How will other countries from the EU to India,Brazil, Japan, etcetera, how are they going to
navigate this new era of uncertainty?
What do futures hold because of everythingthat's going on?
Again, I want to hear I need to hear your guys'thoughts.
Let me know what you think about this.
(53:14):
Let me know if you've hopped into yourDeLorean, your near TARDIS, and gone into the
future.
What policies or strategies do you see in thecrystal ball that can help countries adapt to a
more divided world?
What what rote what routes do they have to taketo make things more manageable and livable from
(53:34):
a world standpoint?
Do you guys think that there's hope for a newera of cooperation, or are we unfortunately
stuck in an endless cycle of conflict andcompetition?
And while you're at that thinking aspect, thinkabout this.
How can individuals and communities buildresilience in the face of global shocks?
(53:59):
Shocks, not shocks, like the pandemic, shocks.
How can they build that resilience?
How can they be insulate themselves from thisthis kind of stuff going on?
Let me know what you think, guys.
I wanna hear your thoughts and your opinions.
Smorgasbord at Smorgasbord JK orJohn@CanopicVentures.com.
(54:20):
Let me know what you guys think.
Taking one more quick ad break, guys.
Last segment of the episode, as we normally dohere on every episode of the Smorgasbord with
Jon Knoepc, we're going to be diving into yourcomments and your thoughts, so stick around.
This is the Smorgasbord with Jon Knoepc.
I'm Jon Knoepc.
Thank you guys very, very much for tuning inwherever you're listening in from, Or if you're
(54:44):
on YouTube, thank you guys for catching me onhere as well, and we'll be right back with our
final segment.
Stick around.
Hey there, SmartersBoard listeners.
Whether you're here for wrestling SmackDowns,wild conspiracy theories, political hot takes,
or just my questionable life advice, I want tohear from you.
Hit me up on social media at smorgasbord j k,or go full keyboard warrior, and email me at
(55:08):
John@CanopicVentures.com.
Your message might just make it onto the show.
Unless it's about pineapple on pizza, then youmight wanna rethink your life choices.
Don't be a stranger.
Now let's get back to the chaos on thesmorgasbord with John Kanopik.
Alright, Smorgasbord family.
Thank you guys so so much for sticking aroundand tuning into this episode.
(55:31):
I am, of course, John Kanopik.
I hope you guys are feeling your stomachsgetting fuller and fuller by the moment as we
feed you more information regarding the goingson in the world, especially from the Canadian
turmoil in political states to The UnitedStates and and China having their tariff wars
to global uncertainty.
(55:51):
Hopefully, you're getting a nice big heapinghelping of what we serve here on the
smorgasbord.
Before we wrap up, of course, as always, myfinal segment of every episode, the one I love
the most, is going to revolve around ourlisteners, you beautiful people out there in
the social media universe, giving me yourthoughts and feedback.
(56:12):
Because, of course, you know, this show is notjust about me talking into the void.
The void, especially if you went and sawthunderbolts like I did over the weekend, you
now know the void is not a place that you wantto be or that you want to deal with.
But it's not just about me talking to the voidhere week in and week out.
It's about building a community, which is whatI'm struggling to do and trying to do as best I
(56:34):
can.
Sharing stories, learning from each other,riffing, and just, you know, trying to get get
fresh perspectives on things going on, not onlyaround the world with current events, but
things in wrestling, things in conspiracytheories, and other topics that you guys, you
know, are interested in or just want to talkabout.
I, of course, in this episode here, put out thecall for your thoughts on Canada's new
(56:57):
leadership, the tariff wars, as I mentioned,between The United States and China, and how
all of this is affecting your lives.
And of course, you guys actually delivered.
And again, I am very, very appreciative of allof the feedback that I have been receiving so
far.
And again, continue to send in the feedbackeven after this episode airs.
I still want to know your thoughts.
I still want to know what your what your futurewhat you feel the future is going to look like,
(57:22):
because I can always come back to this onfuture episodes as things progress.
So let's dig into some of your comments,questions, and other hot takes, shall we?
We're gonna start this round with a messagefrom Lisa up in Winnipeg, Manitoba, Canada.
Hey, Lisa.
Thank you very much for tuning in.
And I bet you if you're a sports fan up there,I bet you're absolutely loving what happened
(57:46):
last night with the Winnipeg Jets and the St.
Louis Blues and how that amazing game sevenended in double overtime with the Jets pulling
it out after being down two goals with lessthan a minute to go, catching up, tying the
game less than two seconds ago, and then indouble overtime about fifteen minutes in,
sending home the game winner.
(58:07):
So hopefully, you're having fun up there inWinnipeg.
Lisa writes, John, I'm a single mom working twojobs, and I've definitely noticed my grocery
bill going up.
I used to buy salmon once a week.
Oh, love me some salmon, delicious.
Especially if you get it from the coast,getting the fresh salmon, so good.
But unfortunately now it's just too expensive.
(58:28):
I'm worried about what happens if prices keeprising.
Do you think the government is doing enough tohelp people like me?
Thank you very much for your question, Lisa.
I appreciate that very, very much.
And of course, Lisa, you are not alone.
Food prices are up across the board and seafoodis as I've mentioned in the earlier segments on
the show today, seafood has been hit especiallyhard by these tariffs and trade disruptions.
(58:51):
The government's relief packages are a start,but as we've discussed, they're more of a band
aid than a cure for what's truly going on.
What I myself would love to see is a longerterm plan that addresses both affordability and
supply chain resilience.
Kill two birds with one stone.
(59:12):
Maybe more support for the local producers aswell, or even incentivize grocery stores to
keep their prices down.
Give them a little kickback for keeping thenumbers down to affordable levels for
consumers.
What do you guys think?
Do you think you've changed your shoppinghabits because of rising prices?
Let me know.
Next up, we've got a memo from Raj in Toronto,another beautiful city that I've been to.
(59:38):
Went up into the CN Tower.
Loved going over there.
Very clean city.
Raj says, Hey, John.
I work in the auto sector and things are tense.
Yeah.
Can see that.
My plan has already cut one shift, and thatthere's talk of more layoffs.
I get that Canada needs to stand up for itself,according to our new prime minister, but I'm
worried about my job.
(59:59):
Is there any hope for workers like us?
Raj, I hear you.
We all hear you.
The auto sector is right at the heart of thistrade storm.
It's not just about tariffs.
It's about the whole supply chain from steel tosemiconductors.
Now I think the key is going to be for thegovernment up there to invest in retaining and
(01:00:21):
support for its workers, and to push tradedeals that protect those Canadian jobs because
they're exceptionally valuable.
But it's absolutely tough, no question.
And, you know, if anybody out there, if youguys are listening and you've been through a
layoff or a tough transition, what helped youwhat helped get you through it?
(01:00:42):
What helped you get back on your feet duringthose uncertain times?
Let me know.
Let me share your tips and stories.
Give give Raj and I some ammunition to go offof.
Here's an email we've got from Sophie inMontreal.
Getting a whole bunch of Canadians today, whichis cool.
John, I'm actually a university student andstudying environmental science.
(01:01:05):
Oh, that's a pretty hefty trade to go into.
Yeah.
Very, very hefty.
I'm frustrated that the carbon tax was scrappedfor consumers.
Now I get that people are struggling, but isn'tclimate change an even bigger threat?
Depends on who you ask.
How do we balance short term pain with longterm goals?
Sophie, that is the $65,000,000 Canadianquestion.
(01:01:32):
Balancing affordability with climate action isone of the hardest challenges any government
faces, because there is climate change, but notto the level that some fearmongers tend to
push.
Maybe the answer is a more targeted approach byhelping those who need it most, while at the
same time keeping those incentives for greenchoices.
(01:01:53):
So again, with jobs, go do things more on agreen scale, giving them kickbacks for that as
well.
Or maybe it's about investing in clean tech.
You know, think about that.
Clean tech, it would help create jobs and cutemissions at the same time.
Again, two birds, one stone.
What do you guys think?
(01:02:13):
Is there a way to have both a strong economyand a healthy planet?
I would seriously hope so.
But, yeah, let me know your guys' thoughts onthat.
And we've got a comment here from Mike inNiagara Falls on The United States size on The
United States side.
And Mike says, as a United States citizen, I'mactually glad Kearny scrapped the carbon tax.
(01:02:36):
Where I'm at here, it was killing us at thepump, but I'm worried about what happens if The
United States and China continue to keepfighting like children who don't know how to
get along.
Are we just stuck in the middle forever?
Mike, you are speaking for a lot of folks, notjust on New York and the Upper Upper East Side
(01:02:59):
Of The United States, but as well as for peopleover there in Western Canada.
The feeling of being caught between two giantsis very real and very, very concerning.
I think Canada, as well as The United States'best bet is to keep pushing for diversified
trade and to build alliances with the othercountries facing the same challenges.
(01:03:20):
Get get together with those who are strugglingthe same way you are and see if you can build a
coalition.
But of course, it's not going to be easy, andit takes time.
If you've got ideas on how Canada and maybeeven to some extent The United States can stand
on its own two feet, I'd love to hear them.
Now, you know, I want to send a quick shout outto everyone who sent in stories about their own
(01:03:46):
experiences.
Thank you guys so, so much.
Whether it's changing jobs, moving to a newcity, just finding new ways to save money.
Your your stories and your feedback and yourcomments make this show what it is.
Now, if you didn't get your comment read today,don't worry about it, guys.
I see you, and I will try to include more nexttime we dive back into this topic or have
(01:04:08):
updates on the topic.
And if you've got it, you've got your ownthoughts.
As I said on anything we've covered today, keepthem coming.
Email John economic ventures dot com, socialmedia at smorgasbordjk, voice memos, anything
snail mail, a Vivian mailing address.
I want to hear from you guys now.
(01:04:30):
After all that, I am stuffed, and I hope youguys are stuffed as well, because that's it for
today's extra large, extra juicy, extraconcerning episode of the Smorgasbord with John
Kanopik.
If you got thoughts, again, as I said, onCarney's leadership, the tariff wars, on all or
how all this affects you, hit me up on socialmedia at Smorgasbord JK, or leave a comment
(01:04:54):
wherever you may listen.
Spotify, Apple, Amazon, iHeart, etcetera.
Don't forget, guys, our JFK assassination deepdive is coming soon.
We might actually do it next week depending onif there's another pressing issue that we would
need to push it back another one.
But if not, JFK coming next week, barring anyother massive global shifts that we need to
(01:05:17):
cover.
So stay tuned for more conspiracy goodness, andof course, more wrestling themed episodes as
well, and even a listener listener themedepisode thrown in in addition.
Thank you guys so so much for tuning in andlistening or watching here on YouTube.
This has been the smorgasbord with JohnKanopic.
(01:05:37):
I, of course, am John Kanopic.
Of course, in a world this wild, you've got tokeep your mind open and your fork ready.
And as always, ladies and gentlemen, take myadvice.
Pull down your pants.
Slide on the ice.
Have a great week.
Stay safe out there, guys, and I'll see you onthe next episode.
(01:05:59):
Thanks for tuning in.
Adios.
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