The World This Hour - The World This Hour for 2025/02/01 at 21:00 EST

Episode Date: February 2, 2025

The World This Hour for 2025/02/01 at 21:00 EST

Struggling with debt? Help is available. Discover reliable solutions to help you get back on track. Visit Canada.ca slash debt dash solutions for support you can trust. A message from the government of Canada. From CBC News, the world this hour, I'm Claude Fague. President Donald Trump has officially launched a trade war against Canada, imposing a 25% tariff on virtually all Canadian goods entering the U.S. Chris Reyes tells us what's in the White House order. President Donald Trump is imposing massive tariffs on Canada, 25% on goods,

10% on energy resources, effective February 4. Also in the firing line, Mexico and China. To impose these tariffs, Trump is using what's called the International Emergency Economic Powers Act. The Trump administration said the flow of illegal immigration and drugs like fentanyl into the US constitutes a national emergency. The tariffs will remain in place until that crisis is alleviated and that it will be up to Trump to decide when that happens. The order also includes a preemptive strike against Canada, warning that if Canada retaliates with counter tariffs or any other measure, the U.S. tariffs will increase. The order says Trump is using tariffs to put American safety and national interest first.

Chris Reyes, CBC News, New York. Prime Minister Justin Trudeau is expected to speak tonight, providing details about how Canada will respond to Trump's tariff regime. Leading up to today, the Liberal government said it will impose retaliatory tariffs on strategically chosen goods. Meanwhile, Conservative leader Pierre Paliéve posted a message on social media calling on the Liberals to recall Parliament to pass what he calls a quote, Canada First Plan, which would include dollar for dollar tariffs on certain US goods, passing a tax cut for

Canadians and knocking down intra-provincial trade barriers. And NDP leader Jagmeet Singh posted a message saying, quote, now is the time for Canadians to stand strong and stand together. And Mexico is also responding to the imposition of tariffs. President Claudia Scheinbaum responded to the imposition by saying her country will implement retaliatory tariffs and non-tariff measures against the U.S. Scheinbaum and Trudeau reportedly spoke this evening. Well, as we've heard, the coming tariffs from the U.S. will not be as heavy on oil and gas.

Sam Sampson tells us how the news is hitting the industry in Western Canada. Well, the consensus is really it's better than 25 percent, but 10 percent still is not good. Either way, it's an extra tax. And so the short-term thinking is because the U.S. is virtually our only customer for oil, we have to sell to them. So perhaps that means lowering the cost per barrel, which might have an effect on production. But there is a little bit of wiggle room right now on the price per barrel.

So the message I'm hearing is let's not panic. It's a wait and see moment. The real concern for Peter Tertsakian is retaliatory tariffs. He's the president of Studio Energy, an energy industry firm, and was just appointed yesterday to the prime minister's Canada-U.S. Relations Council. Peter Tertsakian The last thing we want to do is get into some sort of tit for tat escalation because it will ultimately just boomerang back at us. S1A VLK But what I keep hearing as well from the sector is that there's this hope that

right now this moment will spur action to change how we operate the energy industry as a whole. The CBC Sam Sampson in central Ukraine. Rescue teams search for survivors after a Russian missile slammed into an apartment building killing at least eight people and injuring 17 others, including four children. This was just one of the places hit by Russia's barrage of drones and missiles overnight. Ukrainian officials say in all, the attack killed at least 12 people and damaged dozens of residential buildings and energy infrastructure.

And Chiang Mai, Thailand. Burmese protesters performed scenes depicting the crackdown of Myanmar soldiers on protesters to mark the fourth anniversary of Myanmar's 2021 military coup. The country's junta overthrew the elected civilian government of Nobel Peace Prize winning Aung San Suu Kyi and plunge the country into a civil war. And that is your World This Hour. For CBC News, I'm Claude Fague.