Episode
Carney goes full MAGA as Canada enters recession
- Published
- May 29, 2026
- Duration seconds
- 11193
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Summary
Canada is in a technical recession. The Prime Minister was in New York telling Americans that "Canada Strong will help make America great again." And the first Chinese-made EVs under Carney's 49,000-vehicle tariff deal have arrived off the coast of Vancouver. Join Jim and Iain as they wrap up the week with the latest in Canadian news. Real GDP has now failed to grow for 2 consecutive quarters and business capital investment has fallen for 5 consecutive quarters. The pipeline Carney and Smith announced requires more than $100 billion in total private sector commitment with no confirmed builder, no approved route and no final investment decision. And a Labour Minister who quashed a legal strike by claiming a medical emergency has been caught by access to information records that show no such emergency ever existed. Today's show covers: ►Statistics Canada confirms Canada has entered a technical recession after real GDP was unchanged in Q1 2026, following a 0.2% decline in Q4 2025, with business capital investment falling for a 5th consecutive quarter and the household saving rate at its lowest since early 2024, though April is tracking a 0.4% rebound ►Carney told the Economic Club of New York that "Canada Strong will help make America great again," arguing Canada's energy and critical minerals make it a more valuable partner than rival, with U.S. Ambassador Pete Hoekstra responding that "a lot of Americans can get behind that kind of message" ►Imperial Oil's CEO says the Alberta-to-B.C. pipeline will require more than $100 billion in total investment including production growth, shipping commitments and the government-mandated $16.5 billion Pathways carbon capture project, with no confirmed builder, no approved route and no final investment d…