The World This Hour - The World This Hour for 2025/04/07 at 08:00 EDT

Episode Date: April 7, 2025

The World This Hour for 2025/04/07 at 08:00 EDT

How are Canadians bracing for a full-on trade war? Without U.S. buy-in, can Canada really help Ukraine? And is Canadian patriotism messing with conservative strategy? We explore questions like these on Power and Politics, CBC's only political daily. I'm David Cochran. I speak to the key players in the political stories everyone is talking about. You'll hear from those who've got the power, those who want it, and those affected most by it. You can find Power in Politics wherever you get your podcasts,

including YouTube. From CBC News, it's the World This Hour. I'm Joe Cummings. It is another day of big losses on the overseas stock markets as the fallout continues from the Trump tariff campaign. Peter Armstrong has the latest. The carnage on global markets so far wiped out more than $9.5 trillion in value. Asian markets started the sell-off last night.

This is now the worst day they've seen since 2008. European markets fell sharply. The German DAX fell as much as 10% coming off of those lows. And now we'll wait and see how North American markets react to all of this. But futures trading shows were set for another rough day. There was at least some hope that Donald Trump would spend the weekend negotiating a way out of this. Instead, he played in his club's golf championship while his team offered wildly different reasons for what they're hoping to accomplish with these tariffs. Some said this

was sure a negotiation. Others said there's no way out that the tariffs will remain in place. That only fed into the uncertainty and the result is another brutal day on stock markets. Peter Armstrong, CBC News, Toronto. Meanwhile, the European Union trade ministers are in Luxembourg discussing their response to the Trump tariffs. Ireland's trade minister, Simon Harris, says the trading relationship between the EU and the United States is an important one and ultimately the EU wants to make a deal. I suppose the outstanding question is, is the United States up for one? And what we

have to consider here today, what can we do strategically to help further, I suppose, increase our own leverage to get the United States around a negotiation table? Harris says although Ireland and the US have a close diplomatic relationship, his country is firmly with the European Union. Now to the federal election campaign, both Liberal leader Mark Carney and Conservative leader Pierre Poliev are in BC today. They're both targeting writings they feel they can flip, but they're doing so talking about very different issues.

Karina Roman reports. Who is ready? This is Liberal leader Mark Carney's first time in BC during the election. Until now, he had not been further west than Winnipeg. But then so far, he's twice paused campaigning to return to Ottawa and deal with the latest Tariff Salvo from the Trump administration. And it's not over. If you saw the headlines over the weekend, more coming on our softwood lumber, 50,000 people employed.

Carney is set to meet with B.C. Premier David Eby today, specifically on the move by the U.S. to hike duties on softwood lumber. But Carney's not the only leader in B.C. right now. British Columbia is probably the worst place for fentanyl overdoses in the world. Conservative leader Pierre Poliev is addressing another hard to solve problem in this province, fentanyl addiction and deaths. I'm here today to announce that a new conservative government will fund recovery for 50,000 Canadians who need it. Karina Roman, CBC News, Victoria. On the campaign schedule today, Mark Carney is in Victoria, Pierre Poliev is in Terrace,

NDP leader Jagmeet Singh is campaigning in Toronto, the bloc's Yves-Francois Blanchet is continuing with his efforts in Montreal, and Green Party co-leader Elizabeth May is in Guelph, Ontario. Still with the election campaign, today is the deadline for all parties to submit their nomination papers. And at this point, three parties are confirming that they will have candidates running in every riding. Kate McKenna has more.

The Liberals, Conservatives and NDP all say they're running a full slate of 343 candidates in this federal election. The Green Party hasn't responded to a request for comment, but has committed to running in every riding. The deadline to finalize nominations is today at 2 o'clock. Last week, parties dropped a number of candidates after controversial comments they had made resurfaced. We may be seeing more of that this week. After today, if parties remove someone from their ticket, they can't replace them.

For that reason, sometimes parties withhold opposition research they've done until after the candidate deadline so that if more controversial comments arise, parties won't be able to put up a backup contender, essentially taking them out of that ridings race. Kate McKenna, CBC News, Ottawa. And that is The World This Hour. For CBC News, I'm Joe Cummings.