Investment firm CEO details steps Canada can take to avoid a trade war with the U.S.
ROCKLINC Investment Partners President and CEO Jonathan Wellum joins Ezra Levant to discuss how Canada can navigate through increasing trade tensions with the U.S.
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On last night's episode of The Ezra Levant Show, investment firm CEO Jonathan Wellum joined the show to break down the impact of a potential trade war with the U.S. and what Canada can to do prevent it.
Wellum explained that as President Trump has pointed out, it's crucial for Canada to significantly increase border security to stop the flow of fentanyl and potentially dangerous illegal immigrants into the U.S.
"I think that Trump's key issue is really drugs and the border, so that is what I think we should really be focusing on in terms of the risk issues," he said. "Finally Trudeau came through at the last moment to address some of those issues, at least enough to pacify Trump and solve that issue for the time being anyway," added Wellum.
The ROCKLINC CEO also discussed why getting into a dollar-for-dollar, aggressive trade war with the U.S. would be a terrible idea for Canada.
"We cannot compete with the United States in a tariff war, it would be a crazy thing to do," he said. "That doesn't mean we couldn't put some tariffs on, it doesn't mean we couldn't push back a little bit, but we would not want to push back full force or I think we'd be in serious trouble."
Rather than campaigning against Pierre Poilievre, Ezra explains why Justin Trudeau and his potential successors might actually be seeking a trade war with President Trump.
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Wellum described the weaknesses that the potential trade war with the U.S. has exposed and what Canada can do to act.
"It has exposed incredible weaknesses in Canada...we've got a lot of assets that are landlocked in the centre of our country, all these amazing resources, oil, potash, uranium, especially oil and gas in particular, and we cannot get them to our coasts," he said.
"And so this has raised a very important discussion and I think we're going to be able to finally get something done, where we actually build the pipelines to the West Coast, pipelines to the East Coast," Wellum added.
The investment firm CEO stressed the need for Canada to take advantage of its vast natural resources and find trading partners other than the U.S. "As much as we like the United States, it's craziness and really incompetence to be dependent on one country," Bellum said.
Bellum added that Canada's economy could get a significant boost by slashing interprovincial trade barriers across the country.
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COMMENTS
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Bernhard Jatzezck commented 2025-02-06 21:46:34 -0500A wise man would have taken Trump’s terms and tried to profit from them. -
Bruce Atchison commented 2025-02-06 21:31:44 -0500All this drama is Trudeau’s fault. Wise leaders would remonstrate with Trump and make a good trade deal both sides would benefit from. Instead, we have a childish man wanting to beat up a foe ten times bigger than him. I don’t blame Trump for having zero respect for Trudeau and his gang. Almost nobody in Canada does.
