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It looks like President Trump has won again – the big leagues, as they say.
Instead of playing nice and working out a deal with the United States, Canada decided to play hard and is now suffering those consequences.
In fact, things are so bad that the Bank of Canada has just issued a warning that the standard of living in Canada is about to decline.
See here:
Transcript:
And unfortunately, that means that unless something else changes, our incomes will be lower than they otherwise would have been. They’re supposed to grow, but it was the old way; There is now a new path, which is below the old path.
There are some things that countries can do to try to bend that curve, but these are not things that monetary policy can do. These are more structural changes.
Fundamentally, as the Senior Deputy Governor has said many times, we need to increase our productivity, and if we can do that in a country, we can bend the curve up.
So I think the most worrying thing is that unless we change some other things as a country, our standard of living for Canadians will be lower than it would have been otherwise.
Back up here if necessary:
A Bank of Canada official has warned of a possible “lower standard of living” in Canada. pic.twitter.com/QqMy0pNCss
– unusual_whales (@unusual_whales) 8 November 2025
Maybe in hindsight it was a terrible idea?
yes think?
UPDATE: President Trump hits out at Canada with 10% tariff increase over fake Ronald Reagan ad
Yesterday, we brought you a story about the airing and subsequent removal of an anti-fraud tariff ad featuring Ronald Reagan’s (very misleading) words in Canada.
In case you missed it, here are the full details on it:
Canada Caves: Fake Ronald Reagan ad taken down after President Trump shuts down trade talks
Although it is true that Ontario Premier Doug Ford has promised to remove the ads, there is a catch.
He wanted it to run to the end of the weekend to air during the Word Series. Therefore, it will not be officially pulled until Monday.
President Trump was not happy with this at all.
In response, they increased tariffs on Canada by 10%!
On Truth Social, President Trump is absolutely angry in Canada.
Read his sharp statement here:
Canada was caught red-handed placing a fake ad over Ronald Reagan’s speech on tariffs. The Reagan Foundation said they, “created an ad campaign using select audio and video of President Ronald Reagan. The ad misrepresents the President’s radio address,” and “did not seek nor receive permission to use and edit the comments. The Ronald Reagan Presidential Foundation and Institute is reviewing its legal options in this matter.” The sole purpose of this fraud was Canada’s hope that the United States Supreme Court would come to their “defense” over the tariffs they have used to harm the United States for years. Now the United States is able to defend itself against high and excessive Canadian tariffs (and the rest of the world too!). Ronald Reagan liked tariffs for national security and economy purposes, but Canada said he didn’t feel that way! Their ad was supposed to be removed immediately, but they allowed it to run last night during the World Series, knowing it was a hoax. Due to their gross misrepresentation of facts and hostile actions, I am increasing the tariffs on Canada by 10% more than what they are paying now. Thank you for your attention to this matter!
If you haven’t seen it yet, here’s the fraudulent ad:
The Ontario government just spent $75 million on a pro-trade/anti-tariff ad starring Ronald Reagan. pic.twitter.com/uD5wJgZEzv
– Scott Lincicome (@scottlincicome) 15 October 2025
Backup via YouTube:
Canada has messed up, big time.
Keep in mind that President Trump has also stopped all trade talks with the country.
ABC News has more:
Earlier this week, Trump said he was stalling trade talks with Canada over the ad, which launched earlier this month.
Audio includes excerpts from the ad 1987 address by Reagan This came as he imposed some tariffs on Japanese products but warned about the long-term economic risks of higher tariffs and the threat of a trade war.
Trump claimed without evidence that the ad was “Canada’s hope that the United States Supreme Court would come to their ‘defense’ over tariffs that they have used to harm the United States for years.”
The Supreme Court is set to hear a case about Trump’s sweeping tariff policy this term.
Ontario Premier Doug Ford said Friday he was pausing the commercials so trade talks could resume but noted it would air during the World Series.
What do you think?
Do you support President Trump’s decision to hold Canada accountable and increase tariffs?