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

Episode Date: April 8, 2025

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

Every language is a note in the symphony of our heritage. Together, they create a harmony that cannot be silenced. Discover your voice on the new APTN Languages TV channel. From CBC News, the world is sour. I'm Neil Kumar. It's the only chance we're going to have to reset the table on trade. U.S. President Donald Trump is not backing down from his tariff threats amid the market turmoil.

He is threatening China with additional 50% tariffs if Beijing does not withdraw its 34% retaliatory tariffs on US-made goods. US stocks tumbled for a third day in a row but recovered somewhat to close only modestly lower. Asian stocks plunged by levels not seen in decades and in Europe the biggest stocks continue to slide with London closing at its lowest level in more than a year. Liberal leader Mark Carney says the probability of a recession in the US has gone up significantly because of the tariff war. Other federal political leaders are also responding to mounting

stock market losses. And across the spectrum, Canadian politicians are blaming the volatility on Donald Trump. David Thurden reports. What's going on is a direct consequence of President Trump's unjustified tariffs. Liberal leader Mark Carney addressing the market turmoil. Liberals he said were reduced by 25 percent, the minimum that must be withdrawn from registered retirement income funds. Conservatives already announced something similar, also allowing working seniors to earn up to $34,000 tax-free.

Pierre-Paul Liev said retirees shouldn't pay for Donald Trump's economic vandalism. We have to acknowledge that this chaos is the direct result of wrong-headed, unnecessary, chaotic policies coming from President Trump. NDP leader Jagmeet Singh spoke about his proposals. Victory bonds are a way for Canadians to actually have stability. The New Democrats promising to bring back government savings bonds with a guaranteed return. David Thurton, CBC News, Ottawa. With international markets plummeting and threats of a global recession,

the price of oil is dropping too, and Alberta has been hit the hardest. Madeline Cummings reports. I think right now we have to take some deep breaths. It's still early days. The price of US crude oil plunged below $60 a barrel. Oil and gas were exempted from Donald Trump's latest tariffs, but ATB Financial's chief economist Mark Parsons says investors are increasingly concerned about the global demand for oil decreasing. The biggest fears? The U.S. recession, a global slowdown and higher inflation.

That could mean job losses. If oil prices stay low and persistently low, and that's the key, the duration is key here, then you start to see only gas companies looking at cutting back on capital investment and that's when it hits employment. But Parsons says the industry is more resilient than it used to be. Canadian oil prices are relatively strong and the Trans Mountain expansion has increased pipeline capacity. Madeline Cummings, CBC News, Edmonton. Meanwhile, Canada has requested a dispute consultation with the World Trade Organization.

It's in response to Trump's tear faction against the Canadian auto sector. Canada says the measures violate U.S. obligations under various trade provisions that in some cases date back more than 30 years. Feelings over Western separatism continue to simmer 16 days into the election campaign. A new poll shows a notable chunk of Albertans say they would vote to leave Canada if the Liberals win another term. Julia Wong has the latest. Alberta Premier Danielle Smith says feelings of being treated unfairly by Ottawa have persisted

in the province the last 10 years, and she blames the Liberals. A recent Angus Reid poll found one in four Albertans polled say they would vote to have their province become its own independent country. In Saskatchewan, one in five polled said the same. Monday, Smith was asked whether she wants Alberta to leave Canada. I want for us to be able to build economic corridors. I want us to be able to develop all of our resources from oil and gas all the way through to critical minerals and beyond. I put forward a list of nine items that I think would allow for us to have a reset in our relationship with the Federation, depending on who wins in three

weeks' time. Smith says she will assess where things are at six months after the election, saying she judges people by their actions more than their words. Julia Wong, CBC News, Ottawa. And that is your World is Sour. For CBC News, I'm Neil Kumar.