The World This Hour - The World This Hour for 2025/02/07 at 03:00 EST

Episode Date: February 7, 2025

The World This Hour for 2025/02/07 at 03:00 EST

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start listening today. From CBC News, the world this hour, I'm Claude Fague. With the threat of tariffs still hovering over the Canadian economy, Prime Minister Justin Trudeau has called a meeting for today. Labour and business leaders will gather at the Canada-U.S. Economic Summit in Toronto to talk about ways to better protect Canada. Lisa Jing has more. We're doing more than just bracing

ourselves. Prime Minister Justin Trudeau hoping to assure Canadians a meeting in Toronto involving business, trade and labour leaders can produce results. This economic summit, an emergency response to US President Donald Trump's tariff threat on all Canadian imports. On Monday, Trump agreed to pause the levies for a month, but the trade relationship with Canada's biggest partner may never be the same. Unifor's national president, Lana Payne, will be in Toronto. We have to look at other parts of the world, whether it's Europe, to say, okay, let's join forces here. Good ideas, according to Emily Gilbert, professor in Canadian studies at the University of Toronto.

But there will be challenges. The environmental costs, if we do undertake trade at much greater distances. The other consideration is how quickly changes can be implemented, considering the constraints of Trump's deadline. Lisa Sheng, CBC News, Toronto. Canadian businesses are already feeling

the impact of tariffs while Trump's levies of 25% on goods from this country are on hold until next month. Some of his other trade decisions are leading to business plans being scaled back, even layoffs. Nisha Patel explains. It's a blow to Canadian small business. International trade lawyer Jesse Goldman says Canadian companies are getting caught in the crosshairs. Blow to courier industry as well. Shipping and logistics costs go up dramatically for small businesses.

This week, customers of Vancouver company Understance received an email warning it was pausing U.S. shipments of its products. Goldman says businesses need to plan for the worst case scenario. My view is that tariffs are here to stay. Montreal-based Shear Techs' finances were already strained. The looming threat has made matters much worse. CEO Catherine Homoth says the women's clothing maker will lay off about 140 employees for six months.

This is an incredibly difficult decision to make. It's facing higher costs as it rushes to move its product across the border before March 4th. Nisha Patel, CBC News, Toronto. Super Bowl 59 kicks off this Sunday in New Orleans with the reigning two-time champion Kansas City Chiefs facing the Philadelphia Eagles. Now fans are expected to use online betting to wager billions of dollars on the game. But as Allison Northcott reports, experts are warning the growing online gambling industry is a growing public health problem.

The two best teams in football are about to collide. This NFL ad sets the stakes for Sunday's big game. Millions of fans will tune in, many of them with their own stake in the action. American fans alone are expected to wager a record 1.39 billion US dollars on this year's Super Bowl according to the American Gaming Association, a sign, it says, of the growing enthusiasm for legal sports betting. Canadian fans like it too. Hopefully I can make a few bucks tonight on my little betting app here. The Canadian Gaming Association says the regulated online betting market has grown

since Ottawa legalized single event sports betting and Ontario opened the door to private online gambling companies in 2022. A recent report by the Lancet's Public Health Commission on gambling urges governments to do more to address the public health harms. Alison Northcott, CBC News, Montreal. Buffalo Bills quarterback Josh Allen has been named the NFL's most valuable player. Allen threw for over 3,700 yards with 28 touchdown passes, running in another 12. The 28-year-old beat out Baltimore Ravens quarterback Lamar Jackson, a two-time NFL League MVP, and Allen becomes the third player in team history to win the award. And that is Your World This Hour.

For CBC News, I'm Claude Fahy.