The World This Hour - The World This Hour for 2025/03/04 at 05:00 EST

Episode Date: March 4, 2025

The World This Hour for 2025/03/04 at 05:00 EST

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I'm Neil Herland. The United States has imposed 25 percent tariffs on Canadian goods. U.S. President Donald Trump has been threatening the levy for weeks, but today it finally became a reality. Peter Armstrong reports. Until yesterday, financial markets had largely shrugged off the threat of tariffs. So this statement in the White House yesterday 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. Trump has said this was about fentanyl coming across the border. His officials say progress has been made and yet... No room left for Mexico or for Canada.

So watch financial markets this morning to start pricing in the long-term impact of a continent-wide trade war. Peter Armstrong, CBC News, Washington. Prime Minister Justin Trudeau will hold a news conference this morning on the U.S. tariffs, and he's already outlining Canada's response. Catherine Cullen has reaction from Ottawa. The Prime Minister said in a statement late Monday that there is no justification for new U.S. tariffs.

He also said that Canada will respond immediately with counter tariffs and that there's also discussion, but additional measures to put pressure on the United States that are not directly related to tariffs. Ontario has said phase one of that could be an export charge on energy to the United States. The Prime Minister closed by saying that not only will these tariffs hurt Americans, but they violate the very trade agreement, the new NAFTA, the USMCA, that was negotiated by President Trump in his last term. Kathryn Cullen, CBC News, Ottawa. And the US isn't just slapping tariffs on Canada and Mexico.

It's also raising tariffs on Chinese products to 20 percent. And today China is retaliating. It says it will impose additional tariffs of up to 15 percent on key U.S. farm products, including chicken, pork, soy and beef. The U.S. is pausing all of its military aid to Ukraine. The move comes just days after last week's Oval Office shouting match between President Trump and Ukrainian President Volodymyr Zelensky. U.S. Vice President J.D. Vance spoke about that infamous

meeting during an interview with Fox News last night. Look, this is not going to make anybody happy. The Russians are going to have to give up stuff. The Ukrainians are going to have to give up stuff. You can't come to the Oval Office and say, give us security guarantees. We won't even engage with you

about what we're willing to give up. That's been the Ukrainian posture. And finally, the Canadian Anti-Fraud Centre says last year, Canadians lost nearly $638 million to fraud. But getting your money back is easier said than done. One Ottawa woman says she's out thousands of dollars after a whirlwind romance. And as Robin Miller reports, she's not the only one. That guy is Francis Charon, recorded yelling at Christina McCrimmon, his new wife, on a home security camera.

The pair only knew each other for two months, but McCrimmon says he left her nearly $300,000 in debt. She says he faked having cancer to gain her sympathy and promised to repay loans. It's just unimaginable. Chirone denies McCrimmon's claims, but she isn't the only one who says Chirone owes them money. Trish Caloff hired his company, SLC Contracting, for a backyard renovation. CBC found four Francis Chirones with the same birthdate as the Francis Chirone, who owns SLC Contracting Inc., claimed bankruptcy

in four separate years. In an email, Charon told CBC he's not a criminal or a fraud artist. Both McCrimmon and Calof took their concerns to Ottawa police, but there's a two-year backlog for fraud files. Robin Miller, CBC News, Ottawa. And that is your World This Hour. For CBC News, I. And that is your World This Hour. For CBC News, I'm Neal Herland.