The World This Hour - The World This Hour for 2025/03/20 at 07:00 EDT

Episode Date: March 20, 2025

The World This Hour for 2025/03/20 at 07:00 EDT

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First it was the United States, now it's China. As of today, Canada is in a trade war with two of the most influential economies in the world. Beijing made its move at midnight, implementing stiff retaliatory tariffs on Canadian seafood and Canadian agriculture products. Lisa Shing reports. Andre Harp, chair of the Canadian Canola Growers Association, says he's watched the value of the crop he grows drop since November. The uncertainty of it, we can't survive with that.

In effect now, China's 100 percent tariffs on Canadian canola oil and peas, and 25% on seafood and pork. A tit for tat after Canada followed the US, slapping corresponding tariffs on Chinese-made electric vehicles and steel and aluminum last fall. So, Harp is calling on the federal government to drop the EV tax, saying there may be some room to negotiate since canola seed was spared from this round of tariffs, the majority of which goes to China. It feels like I'm sitting on a park bench between two elephants. Farmers say the federal government bolstering a loan program isn't good enough.

It hasn't responded to CBC news about whether it would consider taking off the EV tariff. Lisa Sheng, CBC News, Toronto. All this economic anxiety has investors doing what they always do in uncertain times. They're buying gold. And as a result, the price per ounce is at an all time high. Arthur Whitecrummy has more. 10 gram gold bars here. Canada Gold did brisk business during the pandemic, selling bullion from store

fronts across the country. The COVID-19 shutdowns caused stock markets to tank, and Canadians gobbled up gold as a safe haven. Now, Donald Trump's tariffs are driving a new wave of economic anxiety, and CEO Tyler Whitmore says Canadians are coming back for more. We typically place one major order per month, and at the moment we're placing two orders per week. Larissa Sprott is president of Sprott Money,

where sales of gold and silver are up 25 percent compared to last year. She says people always look for safety when there's fear in the markets. There's a feeling of like I actually have a physical asset. If something were to happen, I've got it on hand. TD Bank is also seeing a bump in its precious metal sales. Global head of commodity strategy Bart Mellick says gold offers protection. We tend to think that gold will move fire. This week, the price of one ounce of gold neared $4,400. Arthur Whitecrummy, CBC News, Ottawa. We're expecting some early findings today from the investigation into last month's crash landing at Toronto's Pearson International Airport.

The Delta Airlines flight arriving from Minneapolis crashed, burst into flames and rolled over as it skidded down the tarmac. All 76 passengers and four crew members survived, but 21 people were sent to hospital. Health officials in Gaza say at least 58 people have been killed today, as this week's renewed Israeli military campaign in the territory is now into its third day. And as Israeli Defense Minister Israel Katz threatening, quote, complete destruction and devastation unless all Israeli hostages are released by Hamas. And along with airstrikes, Israeli forces have resumed ground operations.

A special meeting of the UN Security Council has been called for tomorrow with the Israeli ambassador saying the hostage issue will dominate the agenda. A new report says the number of local news outlets in Canada continues to decline. And the Canadian Centre for Policy Alternatives says it means there are currently more than two million Canadians living in a postal code with just one or no local news outlets. The authors of the study say the end result is a growing number of Canadians now relying on often unreliable social media feeds to fill the void. The International Olympic Committee elects a new president today. The winning candidate will become just the 10th president in the IOC's

131-year history. They will be given an eight eight year mandate to, among other things, steer the Olympics on a smooth path toward the 2028 Summer Games in Los Angeles and oversee the selection of a host city for 2036. And that is The World This Hour. I'm Joe Cummings.