The World This Hour - The World This Hour for 2025/04/04 at 19:00 EDT

Episode Date: April 4, 2025

The World This Hour for 2025/04/04 at 19:00 EDT

You know what I'd like to hear people say more often? I'm not sure. Let me think about that. I'm Nala Ayed, host of Ideas, a podcast that brings you deep thought every day. We're a show for listeners who like to slow down, to check their assumptions, and maybe even change their minds. If that's you, find and follow ideas wherever you get your podcasts. From CBC News, the world this hour, I'm Julianne Hazelwood. Canadian and US stock markets fell even deeper today, surpassing yesterday's dramatic meltdown. The Toronto Stock Exchange

closed nearly 5% lower. The Dow in New York down 5.5%. Observers are blaming Donald Trump's tariff policy and China's counter tariffs of 34%. Jerome Powell is the chair of the US Federal Reserve and he's warning there will be pain ahead. It is now becoming clear that tariff increases will be significantly larger than expected. And the same is likely to be true of the economic effects, which will include higher inflation and slower growth. While tariffs are highly likely to be true of the economic effects, which will include higher inflation and slower growth. While tariffs are highly likely to generate at least a temporary rise in inflation,

it's also possible that the effects could be more persistent. Today's market drop is the biggest since March of 2020, the beginning of the COVID pandemic. Ontario Premier Doug Ford has visited parts of the province that are still recovering from last weekend's ice storm. More than 100,000 homes and businesses are still without power. And as Lisa Shing reports, many residents don't know when they'll get it back.

I want to apologize to the people that I have not been able to get back to. Ontario Premier Doug Ford in Orillia, Ontario, after an ice storm caused widespread damage and almost a million people lost power. He said crews are trying their best. They're going around the clock. Last weekend a freezing rain fell for several days encasing trees in ice and damaging power lines in central and eastern Ontario. On Friday, six days later, tens of thousands of people were still without electricity, including Kate Warren's family.

Because the branches are everywhere. I came in and walked down the sidewalk. Hydro One spokesperson Tiziana Bachega-Rosa says the storm lasted much longer than normal, so the damage is compounded. Now another hurdle. They are traversing challenging terrain. There's still no estimate of when power will be fully restored. Hydra One says crews will be working into the weekend. Lisa Sching, CBC News, Toronto. Federal party leaders are campaigning in Quebec

today. Conservative leader Pierre Polyev says if elected he would toughen the laws around intimate partner violence. He's promising to create a new criminal offense for domestic violence that would include longer sentences. And the NDP leader took a swipe at his liberal opponent and the investment company he used to work for. Janice McGregor has more. If you can make a profit in Canada, you should pay your taxes in Canada. Jagmeet Singh reminding Canadians that Mark Kearney's former company registers its investment

funds in offshore tax havens. While he was there, they avoided paying over $5.3 billion in taxes. $5.3 billion. What does that mean? Well, that's 50,000 nurses that could have been hired. The Liberal leader defended this practice as a way to avoid the double taxation of investments Canadians count on for their retirements. The structure is organized so that Canadian pension funds can get the most benefit for those pensioners, which are teachers, first responders, and public servants. But Singh doesn't buy it.

This is Mark Carney, BankerSpeak. And the NDP is banking on voters and working-class writings like La Salle et Mare Vardin not buying it either. Janice McGregor, CBC News, Montreal. Mark Carney is also in Montreal, promising to increase and stabilize the funding of CBC Radio Canada. We will modernize the mandate of our public broadcaster. We will give it the resources it needs

to fulfill its renewed mission and ensure that its future is guided by all Canadians and not subject to the whims of a small group of people led by ideology. Carney says a Liberal government will give the public broadcaster an immediate $150 million funding boost and he'll ensure long-term, stable funding. A tsunami warning has been issued for Papua New Guinea and several neighboring South Pacific Islands after a 6.9 magnitude earthquake struck off the coast. The U.S. Geological Survey says it could produce tsunami waves of 1 to 3 meters in height.

No warnings have been issued for Australia or New Zealand. And that is your World This Hour. For CBC News, I'm Julianne Hazelwood.