Trudeau, The Liberal Party, Tariffs and Trump – What the Future Holds for Canada-US Relations?

Trudeau, The Liberal Party, Tariffs and Trump – What the Future Holds for Canada-US Relations?

Author: TD Securities January 22, 2025 Duration: 45:14
Episode 61 is a deep dive into Canadian politics. Frank starts by handicapping the Liberal leadership race to elect Canada's next Prime Minister, a leader whose first order of business will be filling the leadership vacuum in Ottawa as Canada fights back against tariff threats from President Trump. He reminds Canada's provincial leaders of the importance of putting aside regional differences in favor of a Team Canada approach. Frank takes listeners back to Economics 101 where he discusses the theory of comparative advantage, while suggesting that businesses on both sides of the border are holding back investment while the period of tariff uncertainty continues. He addresses the trolling by President Trump of Canada and makes a passionate plea to Americans to understand that while we are friends, we want to remain Canadian. The conversation then moves to global affairs where we discuss the Israel-Hamas peace agreement, the likely end of the Ukraine War and other potential hot spots for geopolitics, including one that is surprisingly close to home. This podcast was recorded on January 20, 2025. Chapter Headings 00:50 - The Race to be Canada's Prime Minister 06:24 - Trump Tariff Decision on Hold 10:20 - Leadership Vacuum in Ottawa 11:50 - Economics 101 – Tariffs and Comparative Advantage 14:45 - Canada's Response to the Wildfires in LA 18:12 - Governor Trudeau and Manifest Destiny 23:06 - Justin Trudeau's Legacy and Biggest Regret 26:50 - Identity Politics 30:40 - Predicting the Election Outcome 32:35 - Does the Israel-Hamas Peace Agreement Have Legs? 36:30 - The Trump Oligarchy 37:40 - Zelensky's Dealmaking with Trump 39:42 - Other Potential Geopolitical Hot Spots in 2025

Each month, Peter Haynes sits down with Frank McKenna for a conversation that cuts through the noise of global headlines. The Geopolitics with Frank McKenna podcast provides a rare perspective, shaped by McKenna’s unique blend of experience as a former Canadian Premier and Ambassador to the U.S., now serving as Deputy Chair at TD Securities. This isn't a theoretical discussion; it's a practical analysis of how international tensions, trade disputes, and shifting alliances directly impact markets and business strategies. You’ll hear nuanced takes on the stories dominating the news, grounded in a deep understanding of both political corridors and boardrooms. Haynes guides these monthly dialogues to unpack complex issues with clarity, making the forces shaping our world accessible and relevant. For anyone looking to comprehend the real-world implications of global power dynamics, this series offers essential listening. The insights throughout this podcast come from a place of firsthand experience, offering listeners a valuable lens on the interconnected nature of policy and finance. Tune in for thoughtful, forward-looking conversations that go beyond the soundbite.
Author: Language: English Episodes: 50

Geopolitics with Frank McKenna
Podcast Episodes
Canada's Acute Case of Tariffitis [not-audio_url] [/not-audio_url]

Duration: 36:30
Episode 60 is dominated by recent events in Ottawa, a period Frank describes as the most chaotic in his lifetime. Frank first dissects the decision by Chrystia Freeland to resign from her post as Minister of Finance prio…
Post Election Hangover – Now What? [not-audio_url] [/not-audio_url]

Duration: 41:22
Frank is back from a vacation in the Far East, and he is fired up to talk about the US Election and its implications for global geopolitics. We cover Trump's controversial cabinet picks. Frank is supportive of Marco Rubi…
The US Election – Post Mortem with Chris Krueger and Rona Ambrose [not-audio_url] [/not-audio_url]

Duration: 42:29
In this special edition of Geopolitics, we check in on a post-election panel discussion at the 25th Annual TD Securities Portfolio Management and Market Structure Conference. With Frank Mckenna out of the country, Geopol…
The Long Road to the US Election Nears an End – or does it? [not-audio_url] [/not-audio_url]

Duration: 45:37
In Episode 57, Frank invites Chris Krueger, TD Cowen's Washington politics expert, to the podcast to discuss the upcoming November 5th US Election and key factors that will determine who wins the Presidential race. Frank…
Canada's Provincial and Federal Election Watch [not-audio_url] [/not-audio_url]

Duration: 43:52
Episode 56 is a mostly Made in Canada geopolitical discussion. Frank covers the NDP decision to end its supply and confidence agreement with Prime Minister Trudeau and his Liberal Party, leading to speculation of a snap…
Canada's Aging Infrastructure – Adversity or Opportunity? [not-audio_url] [/not-audio_url]

Duration: 38:07
In Episode 55, Frank discusses Ukrainian tactics in its war with Russia, suggesting that the incursion into Russian territory and recent drone attacks are more than just bargaining chips. Crossing back to North America,…
Frank McKenna Live [not-audio_url] [/not-audio_url]

Duration: 49:04
Who says the summer is boring? In Episode 54, Frank admits there is not enough time in the day to keep up with the current geopolitical landscape. After a brief history of Frank's storied career, this month's discussion…
Global Election Calendar [not-audio_url] [/not-audio_url]

Duration: 44:36
Episode 53 is all about elections. Frank first covers the upcoming twin bill of elections on the other side of the Atlantic starring the French and English. The former coming as quite a surprise to the market, and the la…
Trump, Trump, and More Trump… [not-audio_url] [/not-audio_url]

Duration: 35:20
Episode 52 takes us on a journey across several continents and covers a wide spectrum of topics. After remembering the legacy of his good friend and New Brunswick business icon Arthur Irving, who passed away recently, Fr…
Back to the Home Front in Canada [not-audio_url] [/not-audio_url]

Duration: 42:01
n Episode 51, we circle back to Canada and focus on some of the key issues impacting our beautiful country. After a quick discussion on the apparent de-escalation of hostilities between Iran and Israel, which Frank is ho…