The World This Hour - The World This Hour for 2025/02/01 at 02:00 EST

Episode Date: February 1, 2025

The World This Hour for 2025/02/01 at 02:00 EST

You don't have to face debt alone. We're here to help you regain control of your finances with Trusted Solutions. Visit Canada.ca slash debt dash solutions and take control today. A message from the Government of Canada. From CBC News, the world this hour. I'm Claude Fague. A 25% tariff on all Canadian goods entering the U.S. is expected to take effect in just hours, despite efforts by the Trudeau government

to change Donald Trump's mind. Chris Reyes has more from New York. Nothing written down or signed, but President Donald Trump remained firm on putting tariffs on Canada, China and Mexico. The details are still unclear, but he did say this. Not a negotiating tool? No, it's not. No, it's a pure economic. We have big deficits with, as you know, with all three of them. Trump seemed to indicate that a 25 percent tariff on Canadian goods will still be implemented

tomorrow as promised. But he said tariffs on oil and gas will now be reduced to 10 percent. We're going to put tariffs on oil and gas. That'll happen fairly soon. Think around the 18th of February. You see the power of the tariff. I mean, the tariff is good. And nobody can compete with us because we have, by far,

the biggest piggy bank. That'll take place very quickly. Trump said he's building a tariff wall, but has yet to sign an executive order to make it official. Chris Reyes, CBC News, New York. President Trump did not release the precise details of the tariffs, making broad threats. But as Anissa Diary explains, the tariffs will affect people on both sides of the border. Tariffs don't cause inflation, they cause success.

U.S. President Donald Trump insistent today that he'll be imposing tariffs on Canadian goods. Those taxes would have to be paid by Americans on theoretically anything they import from Canada. There could be some temporary short term disruption. People will understand. But nothing is on paper yet, at least not on paperwork made public. Trump's still claiming 25% tariffs will start Saturday.

It's provocative chaos meant to put us on our heels. Flavio Volpe heads up the Automotive Parts Manufacturers Association in Canada. Tariffs would make his industry's products way more expensive for American car makers. He doesn't think they'll be happy. Car companies make a thousand cars a day. If you're going to lose $4,000 a car, which means you're going to lose $4 million a day, you've got a fiduciary obligation to say there's an end date to that. There's one possible exception.

According to Trump, oil and gas tariffs might be delayed and only 10 percent. And he's had already CBC News, Calgary. And as you just heard, Trump is suggesting the tariff on Canadian oil and gas will be lower. But even so, analysts say a 10 percent tariff means Alberta's energy industry will still face challenging times. Dave Will has more. More details are expected on Saturday, but for now, the president's comments in the Oval

Office today are all we have to go on. While Trump says 25 percent tariffs are coming for most Canadian exports, he says oil will get a bit of a break. I'm probably going to reduce the tariff a little bit on that. I think we're going to bring it down to 10% on the oil. Richard Masson of the UFC's School of Public Policy says consumers on both sides of the border will feel the pinch at the pumps, and he says it will unravel a system that is currently the most efficient for both countries where both parties benefit.

You know, it's been by tens of thousands of individual business decisions over decades that we got to hear many, many billions of dollars of investment. Nobody forced the U.S. to buy our oil. They did it because they wanted it. They've become quite dependent on it. This is all adding chaos into a system that doesn't need it. Canadian crude exports to the U.S. reached a record high last summer, climbing to 4.3 million barrels per day.

Dave Will, CBC News, Calgary. In Philadelphia, a medevac jet carrying six people, including a pediatric patient, crashed into a local mall and residential area shortly after takeoff this evening. A spokesperson for the Jet Rescue Air Ambulance confirmed the child, along with her mother, and four crew members were on board. The first person for the jet rescue air ambulance confirmed the child along with her mother and four crew members were on board. The flight was en route to Tijuana, Mexico where the patient lived. Air traffic controllers lost contact with the aircraft shortly after takeoff.

Medevac Med Service 056, Northeast tower. Position 755, we have a lost aircraft. The air ambulance company says they cannot confirm any survivors. There are reports six people on the ground were injured, three were released from hospital. And that is your World This Hour. For CBC News, I'm Claude Fahy.