During a Bloomberg Television appearance, Pierre Poilievre emphasized Canada's "affordable energy" and mentioned that he had a conversation with Prime Minister Mark Carney about setting up a "national reserve of strategic minerals and oil" that allied nations could access if needed.
After weeks of trying to cut trade barriers, talks fell apart on Aug. 21. The following day, the Trump administration imposed 50% tariffs on hundreds of Canadian products. Carney's government answered with counter-tariffs on Sept. 8, after which the U.S. said it would block certain Canadian-made goods from entering and limit Canadian firms' access to work tied to government contracts.
Poilievre argued some of the new levies hurt the U.S. itself, pointing to aluminum and lumber. "America cannot produce enough aluminum because aluminum is boxed electricity" and domestic power producers are already strained by data centers, he said. "We've got a surplus. "I think that backlash, though, is misdirected in targeting Canada, because we are actually the solution and not the problem."
Poilievre appeared on course in 2024 to become prime minister as the Conservatives opened a big lead in opinion polls. But after Trump's election, his tariff policies and threats toward Canada reshaped the political scene. In early 2025, Justin Trudeau stepped down as prime minister, after which Carney took over and rapidly called an election. The Conservatives then achieved their best showing since 2011, taking 144 seats and 41% of the vote, yet they still failed to unseat Carney's Liberals.
Thoughtful planning around trade and resources can help protect your long term savings. Join Briefs Finance CEO Jaspreet Singh on September 29th for a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, where he shows how we're spotting investment opportunities as the dollar falls. Save your spot.
For readers tracking inflation and policy, the Bureau of Labor Statistics reported that, excluding food and energy, the consumer price index increased 0.3% in August from the prior month, while overall U.S. consumer prices were 3.4% above a year earlier. Poilievre's message is that more cross-border trade and a shared reserve could help relieve pressure, while the current tariff and import limits show how fast politics can reroute supply chains that everyday prices depend on.
Keeping a steady strategy with your investments helps weather policy shifts and preserve growth. Our CEO Jaspreet Singh is hosting a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, on September 29th. Sign up free to join him live.
