The World This Hour - The World This Hour for 2025/04/07 at 19:00 EDT

Episode Date: April 7, 2025

The World This Hour for 2025/04/07 at 19:00 EDT

From CBC News, the world this hour, I'm Gina Louise Phillips. Liberal leader Mark Carney is saying stock market turbulence is evidence investors aren't as confident as Donald Trump is about tariffs and Canadians will end up paying the price. The probability of a recession in the United States has gone up significantly. You see that from independent commentators and something that we had warned about and I take no joy in that it becoming more likely. That will have significant effects on the Canadian economy. It's very hard for us to avoid that. Karney says Canada has solid financial institutions to weather the economic

storm. Karney's comments come after another rocky trading day on global stock markets. From Asia to Europe to North America, investors are worried Donald Trump's tariffs could crash the world economy. The U.S. president isn't changing course. Quite the opposite, he's threatening another economic superpower with even higher tariffs. Nisha Patel reports. North American indexes opened deep in the red.

Then stocks jumped into positive territory on speculation a tariff pause was on the way. But the White House called that fake news, which prompted markets to tank again. Obviously it's a moving target. From today's action, it seems that the market is trying to find a bottom. Barry Schwartz, chief investment officer at Baskin Wealth Management, says traders are looking for clarity on the impact of tariffs. There'll be some bargain hunters coming in looking for stocks that have been eaten up to a pulp, trying to figure out the winners and losers in this new environment. By the end of the day most markets closed flat or had lost about

1%. Wall Street CEOs have started warning of the negative consequences of tariffs, saying they will lead to slow growth and high inflation. But with Trump doubling down, threatening to raise tariffs further against China, investors may have to prepare for more wild swings in the months ahead. Nisha Patel, CBC News, Toronto. On the campaign trail, Pierre Polyaev is talking about helping seniors' investments weather the current stock market turmoil. The Conservative leader is also getting in a dig at U.S. economic policy. We know that seniors should not pay the price for Donald Trump's economic vandalism over the last several days. And that is why we will allow our seniors to keep their

money invested until they regain their lost amounts. Poliev was in Terrace, BC talking up conservative policy aimed at speeding up approvals for energy projects. He is promising one governmental agency that would carry out a single environmental review for major projects and those evaluations would be done within six months to one year. Liberal leader Mark Carney announced a similar policy earlier in his campaign. British Columbia will no longer be sending cancer patients to the US for radiation therapy.

The program has been in place since May 2023 to ensure timely access to treatment. But the province says investment made in BC's capacity for radiation therapy is paying off. The province now has 10 cancer centers and wait times are down. 93% of patients are waiting less than four weeks to start their radiation treatment, exceeding the national benchmark of 90%.

This is all part of BC's 10-year cancer action plan to better prevent, detect and treat cancers. Blue Jays are offering their star player, Vladimir Guerrero Jr., a 14-year contract extension worth $500 million US.S. The deal is not confirmed yet but reports say it's set to begin next year. Guerrero is in the final year of his current contract. Without an extension, the four-time All-Star could have hit free agency in the fall. This is by far the most expensive in team history and the second most lucrative contract ever in Major League Baseball. Right behind outfielder Juan Soto's $765 million 15-year contract with the New York Mets this season. What a mouthful. My name is Gina Louise Phillips.

Thank you for listening. This is the World This Hour. Music