The World This Hour - The World This Hour for 2025/04/03 at 09:00 EDT

Episode Date: April 3, 2025

The World This Hour for 2025/04/03 at 09:00 EDT

Scott Payne spent nearly two decades working undercover as a biker, a neo-Nazi, a drug dealer, and a killer. But his last big mission at the FBI was the wildest of all. I have never had to burn baubles. I have never had to burn an American flag. And I damn sure was never with a group of people that stole a goat, sacrificed it in a pagan ritual, and drank its blood. And I did all that in about three days with these guys. Listen to Agent Palehorse, the second season of White Hot Hate, available now.

From CBC News, it's the World This Hour. I'm Joe Cummings. The day after US President Donald Trump rolled out his global tariffs, Mark Carney is in Ottawa formulating Canada's response. The Liberal leader has stepped away from his campaign schedule and as Prime Minister, he's promising Canada will strike back.

We are going to fight these tariffs with countermeasures. We are going to protect our workers and we are going to fight these tariffs with countermeasures. We are going to protect our workers. And we are going to build the strongest economy in the G7. In a crisis, it's important to come together and it's essential to act with purpose and with force. And that's what we will do. We'll be hearing more from Carney later this morning after he's met with the premiers. Meanwhile, Trump's previously announced tariffs on the Canadian auto sector went into effect

as of midnight and already there's fallout. Stellantis says it'll be pausing production at its Windsor, Ontario assembly plant. Here's Kate McKenna. Just hours after President Donald Trump made his Rose Garden global tariff announcement, the union representing the workers at the Stellantis assembly plant in Windsor said workers will be off the job for two weeks starting Monday, and more changes are expected within the coming weeks. It says the primary driver behind the decision was Trump's auto tariffs, which came into effect at midnight.

The tariff applies to vehicles made outside of the United States, but it's only levied on the value of all non-US content in the vehicle. Since Canada and the United States have integrated it's only levied on the value of all non-U.S. content in the vehicle. Since Canada and the United States have integrated supply chains, most Canadian vehicles will be tariffed less than 25%. Flavio Volpe is the head of the Automotive Parts Manufacturers Association. He says these new tariffs, combined with the existing steel and aluminum tariffs, will be devastating. And I can't believe I just heard Ontario's representative in Washington say it's a good thing

that we only have 12 and a half percent tariff in an industry that is six or seven percent profit margin. It's unclear at this point how many people will be affected. Kate McKenna, CBC News, Ottawa. Some analysts are predicting that

North American automakers could end up cutting production by as much as 20,000 vehicles per day by the middle of the month. As for the North American stock markets, trading gets underway later this hour, but overseas the day is half over and the numbers are all in the red. John Northcott reports.

Tumbled, slumped, slid, sunk, cratered, market watchers around the world are running out of words to describe what's going on today. Money doesn't sleep and we've seen stocks and the US dollar get beaten up as the trading day followed the Sun around the globe. Japan's Nikkei down nearly a thousand points. European markets dropping more than 2%. This as Goldman Sachs raises the possibility of a US recession from 20% to a market rattling 35%. Yet while the numbers matter, to be sure, in the big picture, it's the uncertainty that really has markets worried. Tim Harcourt is a former chief economist of the Australian Trade Commission.

There's a lot of on-and-off going with the policies you're seeing from President Trump. The uncertainty is causing a lot of the market jitters more than the tariffs themselves, which we knew were going to come. Dow Jones futures dropped a thousand points, that's two and a half percent. Gold, the traditional haven of those seeking safety, stayed where it's been in recent days at record highs. John Northcott, CBC News, Toronto. We've yet to see any immediate retaliatory action from government leaders around the

world, but European Commission President Ursula von der Leyen says an official EU response is being drafted. British Prime Minister Keir Starmer says he's in the process of formulating a, quote, clear and cool reaction. And in China, the hardest hit of all the countries on Trump's terrorist list, President Trump is being called a bully. And Beijing says it will take firm measures to safeguard its economy. Now to the Canadian election campaign, where the Conservatives have dropped a fourth candidate

from the party. Don Patel, in the Toronto area riding of Etobicoke North, is off the Conservative ballot for comments he recently made on social media. This after the party dumped three other candidates this week from Montreal, Metro Vancouver, and Windsor, Ontario. The Liberals lost a Toronto area candidate at the first of the week.

And that is The World This Hour. For news anytime, go to our website cbcnews.ca. For CBC News, I'm Joe Cummings.