Mark Carney (2:11)

I think the first is just to get across the scale of ambition in Canada right now. We intend over the course I can the course of food security. We mentioned food security. Ken Seitz is your one stop shop for food security with Nutrien globally. And that's actually not an exaggeration. It happens to be true. There you go. First Boast of the evening. Secondly, it's enormous, enormous food. I'm just warming up for my American level of boasting. We are going to double our non US exports over the course of the next 10 years. We think we can do it in a much shorter period of time. That's 300 billion of additional exports. Most of that is going to come from Asia in our view and I'm going to justify that in a second. But on top of this, and I just underscore this because this is a two way relationship, our expectation coming out of the budget is that we will, we're laying out a path for at least half a trillion dollars of additional investment in Canada in the next five years. Additional, not total additional. So and that's us so these are orders of magnitude that start to be relevant areas both in terms of the two way trade and the domestic investment. We're basically going to build out the infrastructure to help drive energy, energy corridors, both clean and conventional trade corridors, new port infrastructure and others. But from, from LNG where we're, we're putting ourselves on a path to at least 50 million tons by the end of this decade. But double that by 2040, potentially more. It's easily done when you have the fourth largest reserves of LNG in the world and you have demand here for the energy transition to nuclear. We A few days ago I launched with my good friend Premier Ford. Did I say good friend Premier Ford? I said the, the always entertaining. No, the always interesting, the always unpredictable President. Premier Ford yeah, God. Sorry, I've got. I don't know why I mix the two up. President and Premier Ford.

Narrator/Host (4:23)

But what Prime Minister Carney continue to stress while he was in Malaysia whereas Donald Trump was out there whining about the escalator at the United nations and the teleprompter at the United nations. Not from like was a month ago. Still whining about that. That by the way was the fault of Trump's own staff. Still whining about that. Prime Minister Carney is saying I want everybody to know that Canada is a reliable trading partner and we have ambitious goals. We are looking to move away from the United States in terms of our trade. But I want people to remember Canada is reliable and we're looking for reliable partners and that's a strong mess that the United States is not reliable.

Mark Carney (5:11)

Here, play this clip back in on the reliable partner and values because as I said on the stage, you need a partner who respects the letter of agreements. We are that partner. But also the spirit of agreements and the values underneath those agreements and we do believe in rules based law. We believe in the values of, of sustainability, inclusivity, solidarity, partnership. But I am going to quote and I tested our ambassador to ASEAN earlier and she's going to sing along the words from the ASEAN anthem which I know you all know. But just in case I didn't actually this morning. But two of the key lines that stuck with me is that in ASEAN we dare to dream and we care to share. And so Canada dares to dream big. We have laid out, we're laying out a trillion dollars of investment opportunities over the course of the next decade. US and we dare to care, sustainability, inclusivity and in partnership, the ASEAN AM anthem. Everyone after me. Later on there'll be a, after this reception there'll be a short karaoke where we'll have a chance to sing it together. But thank you for being here and we look forward to the partnership.

Narrator/Host (6:33)

And to show now this was from the earlier meeting that Prime Minister Carney had where he was interviewed in front of the crowd at the ASEAN Convention and he was asked, do you believe that Canada is in a crisis right now based on what is the United States is doing? And I just want you to watch how calmly Prime Minister Carney deals with this. He goes, yeah, I mean it is the rules based order that we came to expect has changed. And what we used to view as our strengths, free trade with the United States has become a vulnerability. But we can adapt and change and move away from the United States. Here, watch this.

Advertisement Voice (7:16)

Is this a crisis in Canada? Is it going to help you reduce the barriers between provinces?

Mark Carney (7:23)

Yes, it's a, it's a crisis because it's a fundamental change in many of the operating, I was going to say assumptions but the operating rules of the system, I mean the reliance on the global open global trading system, a reliance and an expectation of further integration, particularly in North America. I mean that's not going to happen. That doesn't mean there isn't still going to be a fair bit of free trade in North America and cross investment. But this sort of relentless process of greater integration has reversed. That's a big change. And when you have a big change like that and you had your economy oriented towards that which ours was, some of your strengths become vulnerabilities and you have to do big things. And so one of the lessons we've talked about this many in the room have lived it, I've certainly by luck I would like to say, not because of cause I didn't cause the crises I've been in, but my experience of being in them is in a crisis, you have to be bold, you have to act big. Uncertainty weighs down activity. And unless you're leading from the center, whether you're a central bank with respect to supporting financial institutions or monetary policy, or you're a government in terms of charting a new course, you need to be bold. And that's why we're looking for scale in terms of diversification of our exports. That's why our budget, which is coming out in two weeks time, is going to have what we call generational investment in Canada on an order of magnitude that really changes the scale of the economy, the ambition of the economy. Of course it will also, just by its very fact, provide GDP and growth and jobs for Canadians. But as important as that is, more important is going to be a reorientation of the country and very much an outward looking orientation that I think is very complementary to asean.

Narrator/Host (9:26)

This was part of the conversation that Prime Minister Carney had at the ASEAN summit where, you know, the way he describes what the United States has become, it's brilliant. He goes, you know, the way I guess the United States sees itself is not as a reliable partner, but as though it's like, like a country club where if you want to have any dealings with the United States, you need to pay a fee to even have a relationship with the United States. And Carney's like, that's not what we're doing here in Canada. We focus on free trade and we're going to focus on strengthening our relationships with our other allies Here, play this clip.

Mark Carney (10:09)

The United States has a new trade policy, but it applies to every country, every jurisdiction in the world. We understand that and we respect that. It is a major sh. And the way we're framing it is it's a rupture, not a transition. This is a very big change almost overnight, and therefore it's difficult to deal with. It can be difficult to deal with, but everybody's dealing with it. That's the first. The second is if your economy is highly integrated or certain sectors are highly integrated with the United States revealed preference, to use a fancy term, is that you will pay a price to keeping access to that market, either in the form of tariffs, changes to some domestic policies, commitments for investment. Different countries have done various versions of that. What you should try to avoid doing though, is tying your hands about what you can do with other jurisdictions, because that is, there are a lot more countries by GDP that are willing and keen to continue to have relatively open Trade certainly to have rules based trade, to respect rules based trades to have. And that is happening in parallel to these sharper changes. So you get a sharp change in the relationship with the US as the President has said. And I understand this, I respect it. He said it, me sitting next to him. We are going to charge countries for access to the us. It's like access to a good country club, I think he might have said, or Costco, to put it the other way. I think he thinks more on country club than Costco. We understand it. It is the premium market. It's the most dynamic economy. You decide what you're willing to pay. But at the same time you want to be in other clubs, you want to be at other tables, you want to be building that out. And I said I would make a point about the European Union. I think it's quite relevant for ASEAN or if I may broaden it a bit more towards cptpp. Some members are part of that. These are two large trading blocks with not identical but complementary approaches to trade. And there is an opportunity. It's something, it's a point I've made. It's a point some others in CPTPP have made. There is a possibility of bringing those closer together, having at a minimum a docking between the two blocks or broader arrangements that there. And that's how you start to rebuild a broader global trading system. You're approaching more than a third of global trade there, potentially 40% depending on how you do it. Provided you have given your you've retained that flexibility in order to do that. And as things stand right now, most countries have.

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Narrator/Host (14:33)

Prime Minister Carney then talks about how free trade and how the theme of the ASEAN Summit, and I don't think this is a coincidence that this is the theme of the ASEAN Summit, which is the Asian South Asian Summit, is inclusivity and sustainability. To two things that Donald Trump is not for. Trump is not for inclusivity and he's not for sustainability. And the Asian conference was literally called Inclusivity and Sustainability. I don't think Trump or his regime even realizes what a troll that is. Here, play this clip.

Mark Carney (15:11)

Look first, just to give a bit of context in terms of our ambitions and they are large, we laid out last week that we want to increase our non US exports by 50% within the next decade. Shorter timeframe than that, it's about $300 billion. To give context to that, we would expect that a substantial proportion of that will come from asean. And it's one of the reasons why we're looking to complete the Free Trade Agreement with ASEAN within the next year. And I met with both obviously and I want to pay tribute to Prime Minister Ibrahim for his chairing of asean. Great success this year. So I met and discussed with him, but also with next year's chair, President Marcos, and may that a priority. So ASEAN will play an important role in that as well. We will pursue a series of bilateral FTAs and as it happens again with the Philippines, we decided today that we would accelerate both. We would pursue a free trade agreement, but on an accelerated basis between Canada and the Philippines. We have a free trade agreement with the EU. We have one. We are of course core to CPTPP. In fact, we have free trade agreements with 15 jurisdictions around the world. Two thirds of global trade. Now some of those free trade agreements operate a little more predictably than others. No prize for guessing which ones. And our strategy is to broaden and deepen with those partners who believe in rules based trade, who are complementary to us and who share the same values. Because in the end you can write a lot down in terms of trade agreements. You know, trade agreements, well, they're about this thick. There's a number of negotiators I can see near in the, in the front row here and business people who rely on the letter of the law. But it's also the spirit of it and having the interests aligned. I'll finish on this, which is, I found it interesting coming into ASEAN this morning as I walked in the banners, the, the neon banners were with the themes of ASEAN this year, which is inclusivity and sustainability. So it's growth with inclusivity and sustainability is very recognizable for Canada and our approach and that's the type of partnership that will help us realize that diversification.

Narrator/Host (17:46)

And here were the concluding remarks by Prime Minister Carney. Very powerful indeed. Let's play it.

Advertisement Voice (17:51)

Are there big things you think are going to change?

Mark Carney (17:55)

Well, I think it's, I will quote, I will quote our host, our ultimate host, the Prime Minister this morning, which is words to the effect of the old world or the old system is gone, the new one has not yet formed. And so it's a, it's a big question and it's an important question because in many respects those of us in this room will help determine where that is. And what we were talking about earlier is Canada free trade with asean, CPTPP with eu. That link becoming there, following through on inclusivity and sustainability, the extent to which we actually follow that through this room literally and metaphorically will help determine the direction of the global economy or a substantial proportion of the global economy. And because it's asean, because it's dynamic, because it's forward looking, because it's young, that sort of shows where the world is going. And so I think it can be incredibly influential. And we're up. Look, we're out of time.

Advertisement Voice (19:04)

Thank you, Prime Minister Mark Carney. Do join me in a huge round of thanks for Mark Carney, Prime Minister of Canada.

Narrator/Host (19:14)

Now turning to the leader of Midas Canada, Charlie Angus, who's leading the Midas Canada resistance tour, which is filling up packed auditoriums across Canada. And you may have seen Charlie Angus at one of the Midas Canada stops. It's incredible the amount of energy we're seeing out there in these Midas Canada town halls. Here's what Charlie Angus said to me about Donald Trump's behavior and how Canadian press is very out of touch, the same way our corporate presses and how Canadian press was like, isn't it very UN Canadian of us though, to run ads featuring Ronald Reagan's voice and And Angus is like, why would that be un Canadian? Donald Trump's out there posting AI videos of himself taking diarrheas on the American people. Like, why? Why would us playing Ronald Reagan's actual words be un Canadian? Here, play this clip.

Charlie Angus (20:15)

Well, Ben, wherever I travel, you know, we've been taking the Midas town halls across Canada. I am seeing such a determination. And it started off, I think people were defensive, they were freaking out. It's like, what are we going to do? These guys are coming up for us, and now people are saying we're done with them. You know, we saw the absolute collapse of the American spirit market. The wine industry disintegrating 97%. That shows what people. But the upside is, I was just talking to a winery in Ontario, selling Ontario wines into Norway for the first time. We're taking advantage of this. What's really concerning to Canadians is the disintegration of the rule of law south of the border. The disrespect Donald Trump shows, not just for us, but for his own people. And, you know, I did a Canadian interview today, and they said, well, don't you think it's very on Canadian that we interfered in their country, blah, blah, blah, clutching the pearls, I said, this is a guy who showed a video, an AI video of him dumping diarrhea on his own citizens. This man is not worthy of any office in any land. So the fact that he's freaked out that we showed a video that just had Ronald Reagan speaking shows that he's not trustworthy. People are not going to be expecting him to live up to his word. And it's forcing all nations, whether they wanted to or not, to look elsewhere. And so Canada's looking elsewhere.

Narrator/Host (21:38)

Then Charlie Angus brought us this incredible clip right here as well. And what I love, what Charlie Angus is doing is he's traveling all of Canada, and part of his videos that he's rolling out are showing the beauty of Canada also. And as Charlie says, what we're fighting for here, our sovereignty that Donald Trump wants to take away. Here, play this clip.

Charlie Angus (22:02)

It was significant that recently that Prime Minister Carney talked about the trade risks in our relationship with the United States and our need to manage that relationship. And he basically said that it was similar to the risks that we face with China. That's an extraordinary thing to say because we just remember just a few years ago when the United States pushed Canada to arrest Meng Wanzhou, the head of Huawei, because the Americans were fighting with China over the control of the digital space and wanted Huawei out of the market. And Canada agreed to arrest Meng Wanzhou for extradition to the United States. China retaliated heavily. They arrested and imprisoned two Canadians. The two Michaels held them in custody for way too long. There was a huge public outcry that resulted in a backlash in Canada against Chinese imports, against the Chinese government. China has a pretty dubious track record in terms of human rights, their interference politically in Canada. And when we took Meng Wanzhou into custody, the Americans left us high and dry. We were on our own. They didn't come to our aid, even though we were helping them. But right now, Canada is reconsidering that relationship with China. Why? Because we can no longer trust the United States. And we know that we have maybe 150, maybe more Canadians in custody at ICE detention centres without the rule of law. Well, we had two Canadians under Chinese custody and it caused a huge outcry. We have now over 150 in the United States. So when the Prime Minister is talking about us needing to rethink our trade relationships and our strategic relationships, the fact that we're now willing to entertain relationships with the authoritarian government in Beijing shows that we can no longer maintain those relationships with the United States.

Narrator/Host (24:01)

And speaking about Donald Trump wanting to take away Canada's sovereignty, Michael Wolf, Donald Trump's former biographer, talked with us about his obsession, Trump's obsession for taking over Canada, and how it started with the former CEO of Fox, the former head of Fox, Roger Ailes, telling Donald Trump that, you know, the, the, the strongest thing you could try to do is take over Canada and turn it into the 51st state. And that Trump had always been obsessed with that idea. Once Roger Ailes planted the scene in 20, planted the seed in 2016. Play this clip.

Michael Wolff (24:39)

When Trump started to run For President in 2016, he sat down with Roger Ailes, who was then running Fox News. Roger told me this story, and Trump said, what's the biggest thing I can do if I became president? Or just what's the biggest thing I could say I will do? And Ailes, who did not take Trump's candidacy very seriously, said facetiously, you could annex Canada. And Trump said, you know, I've always wondered, looking at the map, why don't we own Canada? You know, if you look at the map, we're the same country. And Ailes actually said, well, the. Remember, Donald, that most of the people in Canada would probably be Democrats. And yeah, Trump said, still, you know, a bigger country. And then he said, what, what was that thing called that, you know, when they really expanded the country. And Ailes said, you mean the Louisiana Purchase? And Trump said, yeah, yeah. If I did that, do you know how big this country would be? It would be the biggest country in the world. And that would be all due to me. Oh, Canada.

Narrator/Host (26:20)

And then before we go, I just want to show you what Ronald Reagan had to say about Canada. Since we're using Ronald Reagan's voice apparently pisses Donald Trump off. Here's what Reagan once said about Canada during one of his famous radio issues addresses.

Mark Carney (26:35)

Let's play it. Canada and the United States, as you see, share much more than a common border. We share a democratic tradition and we share the hopes, dreams and aspirations of free people. When I arrive in Canada tomorrow, I will take the best wishes of the people of the United States. To our good friends, the people of Canada.

Narrator/Host (27:00)

So while Prime Minister Carney is out there delivering real free trade agreements and not sure if you notice that he talks about these are heavily negotiated, thousand page documents that outline broad trade relationships across sectors. You contrast that. It's such a perfect contrast to Donald Trump out there who is just, you know, making social media posts about deals that never come to fruition. Right? Like remember in May, Donald Trump posted we did a deal with China. Then in June we did a deal with China. Then in October we did a deal with China. But like nobody actually sees the deal. There's no like signed agreement. We don't know how long it is. It's just like a press release and versus like an actual trade deal. And all of the fake trade deals that Donald Trump has done. Remember they said 90 deals in 90 days and they've done what like six fake deals that aren't actually like written agreements and they're like just press releases. There's no signatures, they're not binding. You know, Trump's making a fool of himself, weakening the United States. And you see right there, Prime Minister Carney in Canada methodically building a relationship outside of the United States day by day. Let me know what you think. Hit subscribe. Let's get to 6 million and thanks.

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