Canada–U.S. Trade to Get a Lot Tougher: Former BoC Deputy

Former Bank of Canada Deputy Governor Paul Beaudry says future Canada–U.S. trade negotiations will be far more difficult — not because of politics, but because of America’s growing fiscal crisis. As Washington struggles with record debt and rising deficits, tariffs are becoming less about jobs and more about revenue. In this video, we break down Beaudry’s warning, how U.S. debt is reshaping global trade, and what it could mean for Canada’s economy, interest rates, and inflation. #CanadaUSTradeWar #bankofcanada #canadianeconomy Trump's need for money makes trade negotiations difficult: former BoC deputy governor: https://financialpost.com/news/trumps-makes-trade-negotiations-difficult Canadian Home Sales Mark Four-Year High for the Month of September: https://www.youtube.com/watch?v=2H-rt0a7ltc&list=PLOKoTy8yPzZaRjG8ArUm5F6Ny2FEl5rxb U.S. public debt: Where is the breaking point?: https://www.capitalgroup.com/individual/ca/en/insights/articles/us-debt-breaking-point.html What’s driving Canadian interest rates?: https://www.fcc-fac.ca/en/knowledge/economics/driving-interest-rates Does US or Canadian Macro News Drive Canadian Bond Yields?: https://www.bankofcanada.ca/2018/12/staff-analytical-note-2018-38 Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten: https://www.imf.org/external/pubs/ft/wp/2013/wp13266.pdf Extending Trump Tax Cuts Would Add $4.6 Trillion to the Deficit, CBO Finds: https://www.budget.senate.gov/chairman/newsroom/press/extending-trump-tax-cuts-would-add-46-trillion-to-the-deficit-cbo-finds Trump’s tariffs lead to record revenues, but U.S. deficit still climbed 20%: https://globalnews.ca/news/11331825/donald-trump-tariffs-revenues-us-budget-deficit/ Federal Surplus or Deficit [-] as Percent of Gross Domestic Product (FYFSGDA188S): https://fred.stlouisfed.org/series/FYFSGDA188S US debt burden to top world war two peak in coming years, watchdog says: https://www.ft.com/content/e59ea3cf-e18d-4fc9-bf73-f35046b1cc63 US National Debt Clock: https://www.usdebtclock.org/ How much has the U.S. government spent this year?: https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/ US government debt burden on track to overtake Italy’s, IMF figures show: https://www.ft.com/content/34194bfa-b8ea-4301-8212-a554ee721aeb Growth in a Time of Debt: https://scholar.harvard.edu/files/rogoff/files/growth_in_time_debt_aer.pdf Gross Domestic Product, 4th Quarter and Year 2024 (Third Estimate), GDP by Industry, and Corporate Profits: https://www.bea.gov/news/2025/gross-domestic-product-4th-quarter-and-year-2024-third-estimate-gdp-industry-and It Is Impossible For The US To Default: https://www.forbes.com/sites/johntharvey/2012/09/10/impossible-to-default/ President Trump posts cartoon image depicting him firing Fed Chief Powell: https://www.cnbc.com/2025/09/27/trump-cartoon-firing-powell-fed.html US inflation hits 3% for first time since January: https://www.bbc.com/news/articles/cgkzgrmvdrno Charting the Global Economy: Tame US CPI Supports More Fed Rate Cuts: https://www.bloomberg.com/news/articles/2025-10-25/world-economy-latest-tame-us-cpi-supports-more-fed-interest-rate-cuts Hegemonic Overreach in the British Empire: Economic Distress, Strategic Imperative, and the Fall of Singapore: http://www.inquiriesjournal.com/articles/1627/hegemonic-overreach-in-the-british-empire-economic-distress-strategic-imperative-and-the-fall-of-singapore In the blink of an eye the national debt exceeds $38 trillion: https://www.fxstreet.com/analysis/in-the-blink-of-an-eye-the-national-debt-exceeds-38-trillion-202510241652 Trump says all Canada trade talks ‘terminated’ over ad criticising tariffs: https://www.theguardian.com/world/2025/oct/24/trump-says-all-canada-trade-talks-terminated-over-ad-criticising-tariffs Mark Mitchell – Mortgage Broker London Ontario 920 Commissioners road east London, Ontario N5Z 3J1 Phone: (519)860-2102 (Call or Text) MarkMitchell@LondonOntarioMortgages.ca Brokerage Lic: 10464 Broker Lic: M16001479 https://www.LondonOntarioMortgages.ca – Apply Online!! Youtube Channel: https://www.youtube.com/c/MarkMitchellMortgageBrokerLondonOntario Subscribe NOW for more Mortgage/Financial News/Videos. Follow me on Social Media: Instagram - https://www.instagram.com/mortgagebrokerlondonontario Facebook - https://www.facebook.com/londonontariomortgages Twitter - https://twitter.com/londonmortgage1/ LinkedIn - https://www.linkedin.com/in/mark-mitchell-london-s-mortgage-broker-197842123/ TikTok - https://www.tiktok.com/@mortgagebrokerlondon?lang=en Commentary on this Channel should not be considered financial advice