The World This Hour - The World This Hour for 2025/03/04 at 00:00 EST

Episode Date: March 4, 2025

The World This Hour for 2025/03/04 at 00:00 EST

In Scarborough, there's this fire behind our eyes. A passion in our bellies. It's in the hearts of our neighbors. The eyes of our nurses. And the hands of our doctors. It's what makes Scarborough, Scarborough. In our hospitals, we do more than anyone thought possible. We've less than anyone could imagine.

But it's time to imagine what we can do with more. Join Scarborough Health Network and together, we can turn grit into greatness. Donate at lovescarborough.ca. From CBC News, the world this hour. I'm Neil Herland. Donald Trump's threatened tariffs are about to take effect in the next minute. The U.S. is slapping 25%

tariffs on almost all Canadian and Mexican goods shipped to the country. Stock markets sold off Monday and are poised to fall further on Tuesday. Peter Armstrong reports. Financial markets had largely shrugged off the threat of tariffs. Investors simply didn't believe US President Donald Trump would go ahead with a plan that could hurt American consumers. So this statement in the White House landed like a thud on Wall Street. Tariffs 25% on Canada and 25% on Mexico. The American Tax Foundation has said these sweeping tariffs would be like imposing a $130 billion tax on American households.

The price of gasoline is now projected to rise as much as 40 cents per gallon in Northeastern states. When tariffs were imposed on steel and aluminum in 2018, tens of thousands of jobs were lost. Washington had to offer a $30 billion bailout package to industries hit by the trade war. So watch financial markets to start pricing in the long-term impact of a continent-wide trade war. Peter Armstrong, CBC News, Washington. Prime Minister Justin Trudeau is holding a news conference Tuesday morning to discuss the tariff threat.

He says Canada is ready to retaliate. The CBC's Rafi Boujikaneen has the latest reaction from Ottawa. Prime Minister Justin Trudeau's statement says much what he did the last time the US and Canada seemed on the cusp of a trade war a month ago, that this country will respond with counter tariffs, 25% against $30 billion worth of goods immediately and then in 21 days more tariffs on $125 billion of goods. Trudeau calls the US tariffs unjustified. He points out Canada has pushed resources like helicopters and boots on the ground on the border

to crack down on fentanyl trafficking. The Prime Minister says he is in discussions with provinces and territories to pursue several non-tariff measures as well. Rafi Boudjikan, YonCBC News, Ottawa. The US is pausing all of its military aid to Ukraine, the move happening just days after last week's Oval Office shouting match between President Trump and Ukrainian President Volodymyr Zelenskyy. But Trump says a peace deal between Russia and Ukraine shouldn't be that hard

to hammer out. Steve Futterman reports. Just days after his contentious Oval Office meeting with Volodymyr Zelensky, Donald Trump is still complaining. Well, I just think you should be more appreciative because this country has stuck with them through thick and thin. We've given them much more than Europe. But Trump seemed to leave the door open to revisiting a possible deal between the U.S.

and Ukraine involving rare earth minerals and the U.S.'s continued financial commitment. That deal was supposedly about to be signed before the Oval Office confrontation. Ukraine minerals deal now dead or can it be revived? Well, I'll let you know, we're making a speech, you probably heard about it tomorrow night, so I'll let you know tomorrow night. But no, I don't think so. As far as an agreement to end the war in Ukraine, Trump claimed that can be done very quickly, then suggested Zelensky may not want to make a deal.

If that's the case, Trump said, that person may not be around very long. Steve Futterman for CBC News, Los Angeles. Pope Francis has suffered new complications in his recovery from double pneumonia. The Vatican says Francis experienced two episodes of what they're calling acute respiratory insufficiency. As a result he went back on non-invasive mechanical ventilation. The Vatican says he was alert and oriented. They add his prognosis remains

reserved. And finally, sad news his prognosis remains reserved. And finally, sad news from the world of country music. Dolly Parton's devoted husband of nearly 60 years died Monday. Carl Dean was 82 years old and avoided the spotlight. And that is your World This Hour. I'm Neal Herland.