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Canada's economy has been struggling with many of the same trends that the U.S. had been. Rising inflation, cost of living, housing shortages. The problem for Canada under the Trudeau government was also falling productivity and trying to find an engine for growth there.

Canada's economy has been struggling with many of the same trends that the U.S. had been. Rising inflation, cost of living, housing shortages. The problem for Canada under the Trudeau government was also falling productivity and trying to find an engine for growth there.

For an economy whose manufacturing sector wasn't growing very much, had become very much reliant on a resources sector and housing market to propel growth. Those engines were stalling, and it's unclear where more growth is going to come from. Carney, being a realist, basically told Canadians that they should expect more pain. going forward.

For an economy whose manufacturing sector wasn't growing very much, had become very much reliant on a resources sector and housing market to propel growth. Those engines were stalling, and it's unclear where more growth is going to come from. Carney, being a realist, basically told Canadians that they should expect more pain. going forward.

And I talked to one analyst who suggested that last night might be the best night of his entire tenure.

And I talked to one analyst who suggested that last night might be the best night of his entire tenure.

He fired some sort of warning shot at the U.S. saying that the Canadians are over the shock of American betrayal, as he called it. and have learned the lessons from that betrayal. But he's very clear-eyed about the fact that for all intents and purposes, Canada cannot walk away from the United States. They share a 5,000-mile border with the largest economy in the world.

He fired some sort of warning shot at the U.S. saying that the Canadians are over the shock of American betrayal, as he called it. and have learned the lessons from that betrayal. But he's very clear-eyed about the fact that for all intents and purposes, Canada cannot walk away from the United States. They share a 5,000-mile border with the largest economy in the world.

It makes no sense for Canada to walk away from the U.S., even if it were possible. So I do think that they want to negotiate and Carney wants to negotiate a deal. The framework of that deal, I think, is very much up in the air.

It makes no sense for Canada to walk away from the U.S., even if it were possible. So I do think that they want to negotiate and Carney wants to negotiate a deal. The framework of that deal, I think, is very much up in the air.

And they're also very conscious of the fact that it's unclear if Trump can be a reliable partner in any deal that they sign, given the fact that the last trade deal they did with Trump himself, the USMCA, is the same deal that he just ripped up when he came into power the second time.

And they're also very conscious of the fact that it's unclear if Trump can be a reliable partner in any deal that they sign, given the fact that the last trade deal they did with Trump himself, the USMCA, is the same deal that he just ripped up when he came into power the second time.

When Trudeau announced that he was resigning in January, the Liberal Party was mired at the bottom of the polls. Canadian voters had soured on his economic vision and were extremely frustrated by rising inflation and seemed to be following the same path that many voters in the Western world have been doing in kicking out their incumbent parties.

When Trudeau announced that he was resigning in January, the Liberal Party was mired at the bottom of the polls. Canadian voters had soured on his economic vision and were extremely frustrated by rising inflation and seemed to be following the same path that many voters in the Western world have been doing in kicking out their incumbent parties.

However, since Donald Trump started to threaten to annex Canada, calling it the 51st state, and imposed 25% tariffs on Canadian goods, the Liberal Party has rebounded strongly and now in some polls is virtually tied with the Conservatives who are led by populist Pierre Polyev.

However, since Donald Trump started to threaten to annex Canada, calling it the 51st state, and imposed 25% tariffs on Canadian goods, the Liberal Party has rebounded strongly and now in some polls is virtually tied with the Conservatives who are led by populist Pierre Polyev.