The Sinister Reason Why Carney Killed the US/Canada Trade Deal | Guests: Carol Roth & Ezra Levant | 8/25/26

August 25, 2026

AI Summary

5 min read

Mark Carney, the new Canadian prime minister, walked away from a trade deal with the United States at the last minute on a Friday night in August. By Saturday afternoon, he had called Donald Trump a "miscalculation," then upgraded the word to "war." This is a man who ran the Bank of Canada and the Bank of England—he can do arithmetic in his sleep. He knows that 72 percent of everything Canada sells abroad goes to the United States, that 85 percent of its crude oil has no other buyer, and that you cannot win a trade war with America. So why start one?

The Real Target Is Not Tariffs

The argument running through the episode is that Carney is not actually fighting over lumber, aluminum, or dairy quotas. He is fighting the calendar. A currency strategist at Corpay put it plainly: Carney is betting that the November midterm elections will blunt the tariff drive and open the door to a better deal with a different Congress. The strategy is to absorb the economic pain for roughly ten weeks, let American grocery bills and layoffs do the political work, and then negotiate with a Democratic-controlled House and Senate instead of with President Trump.

Continue reading the full summary in the app — free to try.

Read Full Summary →

Free • No credit card required

Listen to Audio Summary Open in App

Never miss an episode of The Glenn Beck Program

Get every new episode summarized in your inbox — free, ~5 minutes to read.

No spam. Unsubscribe anytime.

What you'll learn

1 (02:10) **Episode Open and the Canada Trade War** - Glenn Beck introduces the breaking news that US-Canada trade talks collapsed at midnight Friday and that Canadian PM Mark Carney has declared an "economic war" against the United States.
2 (05:18) **The Real Target: The Calendar, Not the Tariffs** - Beck argues that Mark Carney, a former central banker who can "do the arithmetic in his sleep," knows he cannot win a trade war, so his real fight is not against the tariffs but against the political calendar.
3 (10:24) **The Davos Doctrine: A Globalist War** - Beck explains that the trade fight is the opening engagement of a much older project to preserve the globalist economic system that Donald Trump is disrupting.
4 (13:38) **The Historical Precedent: Genet's 1793 Appeal to the People** - Beck draws a direct parallel between Carney's strategy and a 1793 incident where French minister Edmund Genet tried to bypass President Washington by appealing directly to the American people.
5 (18:52) **The Real War: The Bond Market** - Beck reveals that America's adversaries are no longer studying carrier groups but are instead "studying our interest expense," concluding the fastest way to beat the US is to wait for the bond market to do it.
6 (24:51) **The Lindsey Clancy Case: A Framework for Responsibility** - Beck transitions to the trial of Lindsey Clancy, a Massachusetts woman who killed her three children, to explore the legal and moral question of criminal responsibility.
7 (29:37) **The Medical System's Failure** - Beck examines the evidence that Lindsey Clancy was under extensive care but that the system failed to connect the dots.

+ Full timestamped outline available in the app

Guests on this episode

Carol Roth Ezra Levant

Show Notes

Why did the trade negotiations between the U.S. and Canada fall through? Glenn breaks down how Canadian Prime Minister Mark Carney starting a trade war with America may actually be a political campaign to help Democrat candidates in America win. Glenn discusses the ongoing murder trial involving Lindsay Clancy and explains why people are looking to find guilt anywhere besides where the fault lies: Lindsay Clancy. Everybody has heard the line from "Spider-Man," “With great power comes great responsibility.” Glenn dives into the history of that proverb and how it’s still relevant to everything we’re seeing today. Glenn discusses the recent media obsession with White House appointments secretary Natalie Harp, a bone cancer survivor saved due to President Trump’s involvement in her treatment. Rebel News founder Ezra Levant joins to discuss the possibility that Canadian PM Mark Carney purposefully sabotaged the U.S./Canada trade negotiations. Former investment banker Carol Roth joins to discuss what it would look like if the dollar were replaced as the global reserve currency.

Learn more about your ad choices. Visit megaphone.fm/adchoices