Author: Marketplace

After declaring victory in yesterday’s Canadian election, Prime Minister Mark Carney said the “old relationship” with the United States is over. Over the past few months, President Donald Trump’s on-and-off tariffs and repeated annexation threats have caused Canadians to reconsider the United States as its leading trading partner and ally. But Patricia Goff, professor of political science at Wilfrid Laurier University, said the idea of disentangling the two economies is unrealistic. On the show today, Goff explains how Trump’s tariffs and annexation threats influenced the Canadian election, how Canadian industries are navigating the trade war, and what this all could mean for the future of the U.S.-Mexico-Canada trade agreement.

Plus, we’ll hear a pitch for a new “Make Me Smart”-themed rear window sticker. And, what one psychologist got wrong about burnout.

Here’s everything we talked about today:

"Trump knows exactly what he just triggered in Canada" from CBC News

"Liberal Bruce Fanjoy topples Pierre Poilievre in Carleton" from CBC News

"Canada-U.S. Relations Continue to Reach Lows Over Tariffs and Annexation Threats" from The New York Times

"Mike Myers Is Ready to Defend Canada" from The New York Times

"Canada says its friendship with the US is ‘over.’ Now what?" From Politico 

"The future of the USMCA" from the Peterson Institute for International Economics

We want to hear your answer to the Make Me Smart question. Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

For many in Canada, trade policy and the rhetoric of a leader south of the Canadian border were front of mind when heading to the polls. Kimberly Adams went to polling places in the province of Ontario yesterday to hear more. Today, we'll learn what Canadian voters had to say. Also: DoorDash wants to buy U.K.-based Deliveroo, and Amazon launches an effort to compete with SpaceX’s Starlink satellite system.

For President Donald Trump's 100th day back at the White House, we’re checking in on the cost-cutting efforts of Elon Musk's Department of Government Efficiency, or DOGE. It claims $150 billion in savings from layoffs, canceled government contracts and shuttered agencies. Analysts dispute that number, and it's far short of what Musk had promised. And later: The president is set to give automakers a break on some tariffs.

From the BBC World Service: After claiming victory in Canada's election, Prime Minister Mark Carney has strong words for the Trump administration. We'll hear what he has to say and unpack the role that antagonism from the U.S. president played in the election. Plus, what does Carney's win mean for Canada's economic relationship with the States? Meanwhile, energy giant BP faces new pressure from investors to pivot back to fossil fuels.

One of the most powerful tools in the fight against climate change is the money sitting in investment portfolios - especially the trillions of dollars invested on behalf of public retirees. That’s money that could continue to fund fossil fuel development, or help pay for  climate solutions instead.

New York City has implemented an ambitious Net Zero plan for its public pensions. That plan includes divesting from some fossil fuel companies and investing billions of dollars in climate solutions. One company benefiting from that investment is NineDot Energy.   

Wedged between an elementary school and a big box shopping center in the Northeast Bronx, NineDot Energy is operating a battery farm that the city’s utility company, Con Ed, can call on to help relieve the grid when it gets overstressed. “The batteries hold a combined three megawatts of battery storage. That’s enough to power about 3,000 New York City households for four hours on a hot summer day. Last summer, the battery farm was called half a dozen times, which was enough to reduce greenhouse gas emissions by a combined 24 metric tons. That’s the equivalent of nine thousand car trips on the Cross Bronx Expressway.

Currently, the city has the dirtiest energy grid in the state. More than 90% of its power comes from fossil fuels. NineDot Energy is still in growth mode, but battery farms like this could eventually help the grid transition to renewable sources, like wind and solar.

“The sun only shines when nature tells it to; the wind only blows when nature tells it to, but people use electricity when they decide to,” explained Adam Cohen, co-founder of NineDot Energy. “A battery helps mediate that process. It pulls in the extra power when it's available, and then puts it back out when people call for it.” 

On a recent visit to the Bronx facility, 12-year-old Virtue Onoja showed off a mural she helped paint along with other students from the elementary school across the street, envisioning a future powered by cleaner energy.

“One thing about me, I'm definitely an artist,” she said. “I drew a clear blue sky, no pollution, no nothing [and] beautiful yellow flowers and the sun.”

There are also drawings of windmills and electric school buses. “There's still a lot of pollution, not just in the Bronx, but just in New York in general,” Onoja said. “All of this is the goal that we want to achieve.”

This is an excerpt from the latest season of How We Survive. Listen to the full episode here.

Though it’s hard to say how much tariff-driven sticker shock consumers can stomach, some retailers have begun raising their prices. Other companies are rushing to set up “foreign trade zones” which allow them to sit on imported goods while they figure out their next move. In this episode, we'll also discuss how Trump's trade war — and the uncertainty it generates — is affecting a flower delivery business, the job market and American farmers.

 

On the show today, Kimberly joins us from an Ontario polling station on Canada’s election day. We’ll get into how President Trump’s trade war has shaped the federal election and may boost voter turnout. Plus, what Canadians are saying about boycotting American products and canceling their U.S. vacations.

Here’s everything we talked about today:

"Canadians vote today after fierce campaign shaped by Trump" from CBC News

"Canada votes in an election upended by Trump. Here’s what to know." from The Washington Post 

"Canada’s Political Landscape Upended by Trump, Trudeau and Tariffs" from The New York Times

Got a question for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Beyoncé’s Cowboy Carter tour kicks off tonight in Los Angeles. So far, tickets for the tour are cheaper and easier to get ahold of than during Beyoncé's 2023 Renaissance tour. That's probably less a reflection on Queen Bey and more that feelings of economic uncertainty are replacing post-pandemic revenge-spending habits. We'll hear more. Plus: a drop in cargo ships from China and dealing with debt in your golden years.

Tomorrow marks 100 days of President Donald Trump's second term in office. We're taking a look this week at what this new administration has meant for the U.S. and global economies. We start today by chatting with Zanny Minton Beddoes, editor-in-chief of The Economist Magazine. And later: Tariffs have been used before by countries around the world to attempt to revitalize domestic industrialization. What can we learn from revisiting that history?

From the BBC World Service: From rising prices to falling trade volumes, the impact of radical new U.S. trade policies is starting to filter through. But China says it's still “fully confident” it will achieve its target of roughly 5% economic growth this year, despite the escalating trade tensions. Also, global airline revenues are expected to top $1 trillion for the first time this year — thanks, in part, to pesky fees.