Munk Dialogue with Andrew Coyne: how far is Carney willing to bend for Trump?
episodePreviously titled “Munk Dialogue with Andrew Coyne: How far is Carney willing to bend for Trump?” — renamed by the publisher on Aug 21, 2026
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What is the opening context of the U.S.–Canada trade talks and the looming 50% tariff threat?
So to make any kind of lasting concession that really touches on our sovereignty in return for such meager, if any, gains that even then can't be counted upon, um, is is very, very dangerous stuff because once it's gone, it's very hard to get it back.
Welcome to our latest monk dialogue with journalist Andrew Coint. Today, Friday, the twenty-first of August. Andrew, great to be In conversation with you as we barrel towards a supposed deadline in the latest round of trade talks with the United States. Uh Andrew, some seeming leaks out today of various sorts. Again, everything to be confirmed. What are you hearing and what do you make of possibly some of the features of this deal, uh, still TBD as of uh recording this afternoon, the twenty first of August?
Well, I certainly don't have any any uh pipeline to the people in the room there. Um the leaks have been few and far between, but obviously deliberate. Um where they're coming from for what purposes is always interesting in these things. Um but you know, there's been a lot of toing and froing between what was it Tuesday night or Wednesday morning when we were told there was some sort of, you know, quasi deal and it was all just a matter of nailing down the particulars. Well, we're now three days coming on later. Um, we still don't have a deal. We just have a bunch of leaks. Um It it's entirely possible just as August nineteenth proved not to be the deadline, it's entirely possible that this one the the three days after October uh August nineteenth will prove not to be the deadline.
That's the nature of these things often uh often is the case. I think what's really important for people to understand is This isn't the deal. This is this is not renegotiating Cuzma or whatever you want to call the free trade agreement. This is just about the fifty percent tariff that Trump was threatening to put on. uh on about twenty billion dollars of US of our goods come August nineteenth. Вбил то третий оформ концещенс. Um, to A avert that and B get the the US administration to remove some or all of the tariffs they put on a year ago. under a different section of US trade law. Um but even if we're successful, put those that word in quotes, uh in doing those things, we still have the whole
Cosma negotiations ahead of us. And not only do we have one set of negotiations to do with that, but because as I understand it, because we we did not come to an agreement as of July the first. We're into negotiations every year now. On this. So Um, welcome to our our future. This is this this is not some one and done thing where we make a a tidy package of concessions. Um the concessions sometimes aren't really concessions. Those are those are the more normal types of trade negotiations. Uh this isn't one of those things where we make a few concessions and they make a few concessions and then we go back to business. This is the beginning of Or we're midway through the process of continuing to make concessions.
At least that's one possible strategy for it. Of continuing make concessions to try to stave off the beast. Uh and try and prevent it from devouring us whole. So uh It's not a particularly pleasant prospect, but I think people really under need to understand this that for all the hoopla and the hype that surrounded this. Yeah, if we come out of this with some sort of deal, it will be a deal just on those matters and not on the larger trade negotiat trade relationship between the two countries.
Yeah, that's such an important uh point to underline. Um we are hearing though, Andrew, it seems like uh a deal that will involve if it does go ahead, as you say, to deal with the p specific situation that we find ourselves in, the threat of these new fifty percent tariffs levied on a a small percentage of exports not currently covered by Cuzma. It seems that Uh as one might expect, as unfortunately due to the asymmetrical relationship, uh economic and otherwise between Canada and United States, that
What do the recent leaks reveal about the specific concessions Canada might have to make?
We will not be getting uh anything close to full tariff relief on any of the files that we care about, from steel to autos.
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Chapters
8 chapters
1
What is the opening context of the U.S.–Canada trade talks and the looming 50% tariff threat?
0:00–4:19
2
What do the recent leaks reveal about the specific concessions Canada might have to make?
4:19–8:01
3
How are the proposed concessions linked to Canadian sovereignty and the “elbows up” message?
8:01–11:38
4
Why does Andrew argue that appeasing Trump could lead to further extortion rather than a fair deal?
11:38–16:04
5
What are the potential digital‑policy and dairy‑supply‑management concessions being discussed?
16:04–19:59
6
How does the conversation differentiate between a genuine negotiation and an extortion attempt?
19:59–23:49
7
What strategic options does the host suggest for Canada to counteract Trump’s tariff threats?
23:49–28:09
8
Why does the episode conclude that boosting productivity and competitiveness is essential for Canada’s long‑term resilience?
28:09–30:22
Speakers
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