The World This Hour - The World This Hour for 2025/04/04 at 01:00 EDT

Episode Date: April 4, 2025

The World This Hour for 2025/04/04 at 01:00 EDT

The world we live in isn't perfect. This is all wrong. I say put mental health first. But it doesn't get any better on its own. I stand before you as a concerned citizen. That's why we talk to activists about how they do what they do and what inspires them to keep going. Because we're all about change.

Listen to stories that give us all hope on all about change wherever you get your podcasts. From CBC News, the world this hour, I'm Mike Miles. The markets have reacted and trillions have been wiped out. Finance Minister Francois-Philippe Champagne says the chickens are coming home to roost with the Trump tariff plan. Markets are tumbling, businesses are putting investments on hold, and unions are watching the first job losses happen.

Champagne says Canadians will have to go through a period of turbulence, but the country can come out stronger and more resilient. We're blessed with a lot of talents. We have very strong industries from cars, from ships, from aircrafts. We have mining, we have oil and gas, we have critical minerals, we have abundant energy. We're the only G7 country with a free trade agreement with all the other G7 nations. So when you look at the fundamentals of Canada, that's what gives me confidence." Champagne says he'll be meeting with provincial and territorial finance ministers Friday to discuss dismantling inter-provincial trade barriers.

World markets are extending their losses early Friday after the dropping taken in North America Thursday, with stocks losing trillions of dollars in value and investors fearing it could all trigger a global recession. Katie Simpson reports. The opening bell on the New York Stock Exchange signaling the start of a brutal day on the markets. Stocks dropping sharply at the open in response to President Donald Trump's tariff plan despite the pleas of White House Press Secretary Caroline Levitt. To anyone on Wall Street this morning I would say trust in President Trump.

By the time the trading day closed, it marked the largest single-day loss since 2020. Trump has long warned there will be pain that comes along with all these tariffs. All of this sparking backlash on Capitol Hill. And there's worry among some everyday Americans. The reciprocal tariffs kick in at midnight on April 5th. The White House is saying Trump is not going to back down before then and that countries need to make dramatic changes to appease the U.S. in order to escape this trade war. Katie Simpson, CBC News, Washington. The European Union is in

America's crosshairs, slapped with a 20% tariffs on all exports to the US. European leaders are urgently working on a response, hoping to avoid an escalation. Crystal Gamansing is more. It's a brutal and unfounded decision. Brutal and unfounded. Those were the words used by French President Emmanuel Macron to describe tariffs announced by US President Donald Trump Wednesday. And he's not the only European leader expressing frustration. German Chancellor Olaf Scholz said the tariffs were fundamentally wrong.

A universal 20 percent levy on all imports from the EU is expected to take effect April 5th. A lower tariff has been placed on the U.K., just 10 percent. Prime Minister Keir Stalmer says that's because the UK trade deficit with the US is quote fair and balanced. And we've got decades worth of a special relationship with the United States. The US is the UK's second largest trading partner. That relationship is worth roughly580 billion Canadian dollars.

Crystal Gamansing, CBC News, London. All five major party leaders were in the hot seat Thursday in Montreal for a 3-on-1 grilling by Radio-Canada journalists. Mr. Blanchet, good evening. Good evening, Mr. Singh. Good evening, Madam. Good evening, Mr. Cornyn. Mr. Penault, good evening.

Mr. Poilier, welcome to this great show. It was an opportunity for the campaigns to get their message out in French. The stakes? Quebec's 78 writings in terms of seats, second only to Ontario. The special came two weeks ahead of the French and English language leaders' debates. South Korea's president has been kicked out of office. That country's constitutional court has upheld the impeachment of Yoon Suk-yool following his attempt to impose martial law last year.

The court's chief said Yoon's decree violated the constitution and other laws. South Korea now has to hold an election within two months to elect a new president. The ruling party has issued apology to the country. That is your World This Hour. For news anytime, visit our website cbcnews.ca. For CBC News, I'm Mike Miles.