On August 22, Canada walked out of trade talks with the United States, and tariffs of 50 percent took effect on billions of dollars of Canadian goods. The official story is that Washington asked for too much and offered too little. The final demand tells the real story: the Americans asked for a say over which countries Canada could sign trade deals with. Ottawa has faced this exact choice before. In 1972 it signed an agreement with Europe and waited for the trade to follow. The trade never came, because nothing had been built to carry it. Now Europe is offering Canada a seat as its first associate member, the world's largest investors have flown to Toronto, and the tax code has been rewritten to pay for what 1972 never built. Whether it works this time comes down to one thing. It is not the agreement.
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Citations: https://rentry.co/jms-america-vs-europe-sources
00:00 Canada walks away
01:24 Agreements are not infrastructure
01:51 Nixon, August 1971
02:20 The three options
02:48 The Third Option fails
03:43 Mulroney picks option two
04:40 Economic force
06:26 What Canada is, and what it is not
07:45 The Third Option, again
08:34 Europe's first associate member
10:25 A trade deal cannot load a ship
10:52 The Toronto summit
13:10 The Productivity Mega Deduction
14:29 At the table or on the menu
15:16 Build it, or stay tied to one buyer
17:29 The Vancouver Resource Investment Conference
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