YouTube23 Aug 2026

US Trade Fight Escalates as Canada Digs In

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Bloomberg Podcasts

The Canada-U.S. trade relationship faces significant strain following the collapse of recent negotiations and the threat of escalating tariffs. Christina Ruffini, a lead negotiator for the USMCA, argues that Canada must maintain its sovereignty by refusing to capitulate to the Trump administration's "vassal" style of diplomacy, instead employing a "donut strategy" to build support among the American public. Drawing on the 2018 steel and aluminum dispute, she asserts that dollar-for-dollar retaliation is an effective tool because it highlights the mutual economic harm of trade barriers. Shifting to the conflict in Ukraine, Ruffini reports from Kyiv on the effectiveness of Ukrainian deep strikes against Russian oil refineries and their superiority in drone warfare. While Ukraine has successfully turned Crimea into a strategic liability for Russia, the nation faces a grueling winter as Russia continues to target civilian infrastructure and energy facilities.

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