The World This Hour - The World This Hour for 2025/08/22 at 13:00 EDT

Episode Date: August 22, 2025

The World This Hour for 2025/08/22 at 13:00 EDT

We are gathered here today to celebrate life's big milestones. Do you promise to stand together through home purchases, auto-upgrades, and surprise dents and dings? We do. To embrace life's big moments for any adorable co-drivers down the road. We do. Then with the caring support of Desjardin insurance, I pronounce you covered for home, auto, and flexible life insurance. For life's big milestones, get insurance that's really big on care at Dejardin.com slash care. from cbc news the world this hour i'm gina louise phillips we begin with a major development in the ongoing canada u.s trade dispute coming straight from prime minister mark carney

canada is dropping retaliatory tariffs on many u.s goods those counter tariffs will be removed on all goods covered by the kuzma trade pact this means canada will instead match american tariff exemptions for those goods The Prime Minister made the announcement in Ottawa last hour. Carney says the current North American trade agreement puts Canada in a solid position. So let's be absolutely clear. Canada currently has the best trade deal with the United States. And while it's different from what we had before, it is still better than that of any other country. Carney's decision takes effect September 1st.

The U.S. has established new frameworks for trade deals with many countries and the European Union, but so far no new deal with Canada. The Kuzma Trade Agreement is up for renewal next year. Terrorists figured into a closely watched speech today from the Chair of the U.S. Federal Reserve. But despite the uncertainty U.S. tariffs are creating, Jerome Powell is signaling that an interest rate cut could be in store. The comments triggered a surge on U.S. stock markets. Powell said borrowing costs are weighing on the American economy and labor market,

but the central bank is also carefully tracking the impact of tariffs. It will continue to take time for tariff increases to work their way through supply change, chains, and distribution networks. Moreover, tariff rates continue to evolve, potentially prolonging the adjustment process. It's also possible, however, that the upward pressure on prices from tariffs could spur a more lasting inflation dynamic, and that is a risk to be assessed and managed. The comments open the door for a potential cut to the Reserve's key interest rate at its meeting in mid-September. Jerome Powell has been under intense pressure from U.S. President

Donald Trump, who's been pushing for an immediate rate cut and for Powell to resign. The FBI is investigating Donald Trump's former national security advisor. John Bolton is reportedly part of investigation into whether he illegally possessed or shared classified information. Lisa Xing has the latest. I'm not a fan of John Bull. U.S. President Donald Trump slamming his former national security advisor saying he was not aware the FBI was going to raid Bolton's Maryland home. He's a real set of a low life. FBI agents searched both Bolton's home and Washington

office. During Trump's first term, the two clashed over foreign policy. Since then, the Justice Department tried to block the publication of a memoir Bolton wrote by opening a criminal investigation, which ended under Joe Biden. Bolton, now a vocal critic of Trump, including on his handling of Russia's invasion of Ukraine. Trump just wants a peace agreement that he can put on his resume for the Nobel Prize Committee. The Trump administration has repeatedly targeted political enemies, including former FBI director James Comey. The world's leading hunger monitor says Gaza City is officially suffering from famine. The integrated food security phase classification says more than 500,000 Palestinians are affected.

This marks the first time the IPC has recorded famine outside of Africa. Jeremy Lawrence is a spokesperson with the UN Human Rights Office. He says the famine is a direct result of actions taken by the Israeli government. The Israeli military has destroyed critical civilian infrastructure, almost all agricultural land banned fishing, and forcibly displaced the population, all drivers of this famine. Israeli officials call the findings false and based off data provided by Hamas. Prime Minister Benjamin Netanyahu says Israel has a policy of preventing starvation.

And that is your world this hour. For CBC News, I'm Gina Louise Phillips.