Trump EXITS USMCA | Canada's Response is Unfortunate

Well, breaking news, the U .S.is planning to announce their intention to walk away from COSMA USMCA.As per Reuters this afternoon, we're expecting to hear from the American administration at some point later today.This is big news because Canada has been running articles and stories of how Carney has just got it all under control and it's all good and we'll be covering those today.However, to hear this, well, It's the death by 1000 paper cuts that we have been warning about for quite some time.

And Mark Carney has been watching it all go down without lifting one single finger.We have a lot to get into.I'm looking forward to getting into all of it with you.Welcome to the Elevate Report.I'm your host, Josh.Now let's get into our first story, shall we?

From Reuters breaking US declaration to exit USMCA to start a decade long countdown.For the pact, U .S.President Donald Trump's administration is expected to formally declare on Wednesday that it will not extend the U .S.-Mexico -Canada Agreement on Trade, starting a decade -long clock to wind down the 32 -year -old North American Free Trade Zone as the three countries haggle over proposed changes.

That declaration will kick off a six -year review session, part of a sunset clause negotiated by President Donald Trump's first administration.However, it will do little to alter contentious negotiations over the Pact's future, including sweeping demands to boost U .S.and regional content in North American automotive production and trade protections to block Chinese goods from benefiting from USMCA.Trade chiefs from the US, Mexico, and Canada are expected to meet virtually on Wednesday and declare whether they want to extend the pact for another 16 years.US Trade Representative Jamison Greer has already scheduled a third negotiation with Mexico for the week of July 20th, signaling his intent to keep pushing for changes.

We expect July 1st to come and go, and for the United States to not confirm its wish to extend, said Greta Peysch, a former USTR general counsel who is now a trade partner at Wiley -Rhein in Washington.Paish added that it's unclear whether the U .looking for in a public way in a statement expected after the meeting. FailureFailure to reach an agreement on revisions to USMCA would keep the trade pact in indefinite limbo with similar similar review sessions annually for the next 10 years after which the North American trade pact would expire on July 1st 2036.The review and sunset process which was considered controversial when it was enacted is separate from a termination clause that US President Donald Trump or his Mexican and Canadian counterparts could exercise triggering a US withdrawal from the pact within six months.months.

That's your breaking news is US is expected to announce his intention to walk away from KUSMA USMCA.Again, this isn't a full on termination where they're going to walk away from it in the next six months.However, it's a verbal confirmation that they have no interest in extending it, setting up the 10 year countdown.And I apologize for those who've heard me say this before, I'll have to say it again to make sure we get the point across.is you're going to hear this point pushed a lot in the media this afternoon into this evening is the fact of oh don't worry we still have 10 years we still have 10 years everything's going to be intact it just means they don't want to renew and yes in the immediate term that's good news but when it comes to business investment this is very bad news because we as people individuals we plan out three -year terms, five -year terms, or maybe 10 -year plans of how we're gonna, you know, we're gonna buy a house, we're gonna go on vacation, we're gonna save up for this, this is for retirement, bop, bop, bop, bop.We set up these little, you know, milestones or goals, three, five, seven, 10 years.

But that's the most people will go.Most people will go year to year.But when it comes to business and investment and you're dealing with manufacturing at scale, businesses at scale, well, you are looking 15, 20, 25, 30 years into the future.If you are looking to set up shop in the US or Canada, and you find out that Canada is losing its free trade agreement with the United States,and you're gonna be relying on that to build your cars in Canada and then sell them to the U .S., well,S.

, well, you're not going to invest in factories.You're not gonna invest your business into Canada because you're just like, well, I don't know if this thing's gonna be real or not in 10 years.Can't afford it.We're gonna stick with the U .S.And this is the death by a thousand cuts I've been talking about.

As businesses will not invest their time or funds into a country whose economic future with their greatest trading partner is uncertain.It's just not going to happen.So when you have the U .S.come out and say, yeah, we have no interest in extending this.Let's start the year to year reviews.

That is going to be the death of a thousand paper cuts for Canada.And the media is going to lie to your face.It's going to lie to your family.It's going to lie to your friends that it's all good.We still have 10 years, as if that actually means something.But in the grand scheme, that means no investments coming in, no new dollars gonna come in, they're gonna lie to your face about it, and they're going to recycle promises, recycle projects that originated under different administrations, or originated under different deals, and deliver them as if it's brand new news.

That's how this government operates.But we continue reading this article.This is where it gets very interesting.For now.The US is holding formal negotiating rounds with Mexico only.Leaving Canada to the side amid a long list of bilateral trade irritants ranging from Canada's restricted dairy market to Canadian provinces pulling American liquor off the shelves, Greer has planned no schedule to launch formal negotiations with Canada, though he holds discussions with his Canadian counterpart, Trade Minister Dominic LeBlanc.

They are going to continue moving forward with all these rounds of negotiations with Mexico.Canada is getting left in the dust.Not only are they looking to step away from this trilateral agreement over the next 10 years, they are not pursuing further negotiations with Canada because wehave been such bad faith actors and the Liberals have screwed this one up six ways to Sunday because it was politically convenient for them here in Canada for them to hold power.And that's what weak people do.Burn it all to the ground so they can rule over the ashes.

This is why I get ticked off.This is why I get annoyed.A lot of people are like, what can we do?It's a great question.What can you do?About applying pressure.

Where pressure needs to be applied.You need to be involved with the grassroots.You need to be involved in your municipal politics.In your rioting politics.You need to get involved in your community.and start pushing for change, like yesterday.

This cannot be a spectator sport any longer.Can you make change and have impact at the federal level when it comes to how the liberals are going to change their strategy?No, you're not.But you can have impact in your community, and you can start building up your community to hedge yourself against the awful mistakes that the federal government's going to make.You can do that.Because, yeah, you're not going to change what the federal liberals are going to do.

You're just not.Look at Jamil Javani, for goodness sakes.Good friends of JD Vance and look at how much he even can do and he's in the official opposition.He's as close to government as you could possibly get without being in the government.He has great connections with folks in the U .S.

and look at the impact he was able to have next to nothing on this specific issue because he's not in government.So, he's had to make different moves and changes to help bolster his community and his riding.The same can be done for you.That's what you can do right now is get involved with what the heck is going on in your community.and making sure the worst of the worst people are not getting involved in politics.Like, I don't know, sock puppets, for goodness sakes.

Because this is what you're going to see a lot more of.Ryan Garretson posted this on X, was a CBC clip of them again doubling down on this hatred of America and why Canadians should continue to hate America.

I'd love to see Canada be the 51st state.

I don't understand why anyone would think that any nation would react well to basically talk of colonization.It is hard to look in a neutral way at what's going on outside our borders and I simply had such a negative reaction to it.I wasn't prepared to support their economy.

She stopped buying American products and says many of her friends have done the same.Several Nova Scotia retailers say they continue to see a lot of interest in buying local.At Westside Beer Wine Spirits in Clayton Park, while bourbon is popular, there's less demand for other American products.

And so for the most part, Canadians, I think, have really spoken with their wallets, saying that they still want to support Canadian and local, and that the U .S.products are not things that they are super keen on buying in great demand.

And at the NSLC, sales of Nova Scotian alcohol products increased more than 11 % in the most recent fiscal year.This happened at the same time that overall alcohol sales fell.In a statement, NSLC spokesperson Tara McKinnon said that most of the remaining U .S.inventory is wine and spirits.And quote, given the volume of U .

S.wine on hand, it will take some time to sell through it.At a local source market in Halifax, Trump Talk drove new customers to the store.And they continue to shop there.Founder Sean Gallagher believes the interest in buying local took root at the start of the COVID -19 pandemic.

We can just support each other and small economic decisions kind of make a difference.And that's what was kind of laid bare during the pandemic.So then when Trump came around second time,and is, you know, trying to annex us and, and give us grief, we're like, that's Ryan Gerritsen said this, and I agree with him.

So CBC once again, making sure Canadians elbow stay up.There is no other reason for these segments than to keep people distracted from our own government's failings and use Trump's tariffs as the main scapegoat for our country's continued decline.I couldn't agree more, because the distractions are very real.Yes, keep running America bad, Trump bad, get the focus off our government.And Carney came forward with a calm, cool YouTube video today, this morning.Hey, it's all good.

Mark Carney's here to the rescue.And Mark Carney taking credit for things that he never did.Here we go.

It's important to know that the global oil shock is happening even though Canada is producing far more oil than we ever have.In fact, only two countries have increased oil production more than we have this century.

Only two countries have increased output, US and Russia.And trust me, we're not much higher than Iraq, Brazil.It goes Iraq, Brazil, Canada, Russia, then boom, America.Again, just funny.Yeah, great.You increased oil output by a small margin when it could have been.

We actually probably could have displaced Russia, if I'm being quite honest with you, if we had proper infrastructure in place.But anyways.

United States and Russia.Most of our production has been for export and almost all of those exports have gone to one country, the United States.The U .S.pays a discount for Canadian oil in part because it's been pretty much our only customer.That started to change last year when the new Canadian

Trans Mountain Pipeline came online for the first time.We have direct access from our West Coast to fast growing Asian markets.Listen to this guy.

Take credit for things he had nothing to do with.

It came online last year because I just showed up and just a pipeline just magically appeared and we started exporting to Asian markets.

Look at me. I'm Mark Carney.

Give me a break.And he's about to list a bunch of oil projects.And all of them, he lists, all originated under, well, not the Liberals.

That gives us a better price for our oil and more resources to support Canadians.It's also why we're developing options for a second oil pipeline to the West Coast.And it's why we are building a series of projects to export low carbon liquefied natural gas.

So everything he lists here.All these projects originated under a Harper government, which just shows you how much pain this like this is painful, dude.I know it's hard to believe because liberals won't.It doesn't make it sound this way.But yeah, Harper, last time he was in power was 11 years ago.Just a heads up, OK?

So all these projects originated under a Harper government and then just slow walked by the Trudeau government, making it so difficult to even build that pipeline that he's touting here.Oh, making it so difficult to the point that the private sector walked away from it because it was just ridiculous the amount of red tape they put around the freaking project.The government had to buy it back multiple times over.Yeah, okay, the liberals had it built underneath the 100%, but they screwed it up so much that it ended up costing so much more than it needed to.And that's the Mark Carney way.Kind of like, I don't know, him taking credit for forward guidance.

You know, a monetary theory developed in the United States decades before Mark Carney even tried to implement the theory here in Canada during the financial crisis.It's what he does though.He tries to take credit for everything that he had nothing to do with.That's what he does.But this is what it is, man.We're talking about, we're gonna get the stupid CBC clips, Mark Carney saying, don't worry folks, I'm Mark Carney.

We're gonna be just fine.And CTV.We're putting this out.Not looking for my pen.Carney not expecting resolution or any drama around the CUSMA deadline.Well, it's about to get a little dramatic, folks.

Carney says he doesn't expect any resolution Wednesday to the ongoing talks about whether to renew or review the Canada -U .S.-Mexico agreement.Isn't that funny?Because this was posted just before the Reuters article launched this afternoon, bebes.We're not going to know anything.

Psych!We're going to be reviewing it for the next 10 years.No interest in renewing it.Just year to year review, no certainty, all doubt, nothing but fear, and no investment coming into our country.Thank you, Mark Carney.Thank you for looking out what's best for yourself and screwing us six ways a Sunday.

Awesome.Looking forward to the amazing things that are gonna come for our country in the process.Am I feeling a little spicy this afternoon?Absolutely.Am I a little annoyed and frustrated?Yep.

Was this episode more so focused on just Hitting the facts super hard to get a point across.Oh, yeah, because I've been sitting here watching this train on a collision course And the thing is with this one as I said at the start of the show, this isn't one big boom It's not gonna happen.It's not gonna like be a nuclear bomb.It's going off It's just going to be death by a thousand paper cuts as I've said multiple times on this show a yearly review of our largest trade agreement does not provide anycertainty in the marketplace only Uncertainty and that's not certainty that nobody wants to invest in so we'll see what the follow it is I've warned you what you're gonna read this afternoon into this evening.It's gonna be a lot of don't worry It's gonna be all good.

It's gonna be okay, and it's gonna be a gaslighting bonanza Don't fall for it argue intelligently be fact -based and let's continue to put pressure and suffocate the BS of this government But anyways have yourselves a good one.

I'm out