Daily Caller
Kevin O’Leary Says Trump’s Tariffs A Gateway To US-Canada Economic Unity
From the Daily Caller News Foundation
By Mariane Angela
‘It’s The Beginning Of A Giant Negotiation’
“Shark Tank” co-star Kevin O’Leary said Monday on Fox Business that President Donald Trump’s looming tariff on steel and aluminum imports have broader implications for US-Canada relations.
During an appearance on “The Evening Edit,” O’Leary discussed the impact of tariffs as the start of significant negotiations. He said there is potential for broader economic integration between the U.S. and Canada. Trump plans to impose tariffs of 25% on imports from Mexico and Canada, along with an additional 10% tariff on Canadian oil, natural gas, and electricity. Despite these significant figures, Trump has imposed only a 10% tariff on oil, the cheapest U.S. imports. O’Leary said this is merely the opening move in what could be a transformative economic negotiation.
“So all of this to me, if you separate the signal from the noise, forget the noise. The signal is, let’s get an economic union together,” O’Leary said. O’Leary said there is a global uproar over the U.S.’s proposed 25% tariffs and the reciprocal tariffs from countries like India, which have set their tariffs on some U.S. products at up to 23%.
“Those are two different baskets. Obviously, the one that people are talking about quite a bit tonight is India. They’ve got certain product services in different sectors, up to 23%. Now we’re going to have reciprocal tariffs in the U.S. against them. [Indian Prime Minister Narendra] Modi will immediately fly to Washington. The negotiations will begin,” O’Leary said.
O’Leary, however, said Canada’s situation differs from others.
“It’s the same everywhere. The Canadian situation is unique. Almost the entire 200 million deficit that the president’s talking about comes from one single source. That’s energy coming out of Irving Refineries on the east coast down to Boston, and all of that oil, 4.3 million barrels a day coming in at Alberta into the west,” O’Leary said. “And so that’s the most inexpensive oil [that] the U.S. imports. That’s why he only put a 10% tariff on it. But it’s the beginning of a giant negotiation. Aluminum, 70% of aluminum comes in the U.S. It’s made in Canada for one singular reason.”
While some skeptics doubt Canada’s willingness to merge economies, a growing number of Canadians, O’Leary said, are open to exploring such a possibility.
“What is on the table that now 43% of Canadians want to explore more of? Forget all these tariffs. Let’s join the two economies, become a behemoth, common currency perhaps, and then take on China,” O’Leary added. “I mean, that’s really what we’re talking about here. We’re talking about the security of the north, not the 49th parallel.”
When asked about what the U.S. could gain from such tariffs beyond economic leverage, O’Leary said it’s about the broader geopolitical benefits:
“Let me assure you that 11 out of 10 Canadians would rather trade their Trudeau pesos for American dollars. They already have American dollar accounts. Trudeau has wiped out 41% of their net worth the last nine years. They want an economic union because it’s good for business. Everybody understands that. The two countries are so intertwined, and they both believe in democracy and free speech and freedom and all the rest,” O’Leary said.
O’Leary was asked what can Trump get for the American consumer and the American voter in return for these tariffs.
“Security on energy,” O’Leary said.
“Alberta has five times more oil and gas than the entire United States. Complete security on uranium, aluminum, all of the incredible resources Canada has with only 41 million people there and access to it in a free flow. No tariffs.”
Trump aggressively employed tariffs to coerce Canada and Mexico into making concessions aimed at resolving the crisis at the southern border. In response, Canada has committed to bolstering security along its northern border, while Mexico has agreed to station 10,000 National Guard troops at the border.
During former President Joe Biden’s tenure, approximately 8.5 million migrants were encountered at the U.S.-Mexico border, and this period also saw an increase in fentanyl seizures, primarily driven by Chinese chemical companies. Meanwhile, even though less frequent, illegal crossings at the northern border also surged during the Biden administration.
From the Daily Caller News Foundation
I’ve written frequently here in recent years about the financial fiasco that has hit Ford Motor Company and other big U.S. carmakers who made the fateful decision to go in whole hog in 2021 to feed at the federal subsidy trough wrought on the U.S. economy by the Joe Biden autopen presidency. It was crony capitalism writ large, federal rent seeking on the grandest scale in U.S. history, and only now are the chickens coming home to roost.
Ford announced on Monday that it will be forced to take $19.5 billion in special charges as its management team embarks on a corporate reorganization in a desperate attempt to unwind the financial carnage caused by its failed strategies and investments in the electric vehicles space since 2022.
Cancelled is the Ford F-150 Lightning, the full-size electric pickup that few could afford and fewer wanted to buy, along with planned introductions of a second pricey pickup and fully electric vans and commercial vehicles. Ford will apparently keep making its costly Mustang Mach-E EV while adjusting the car’s features and price to try to make it more competitive. There will be a shift to making more hybrid models and introducing new lines of cheaper EVs and what the company calls “extended range electric vehicles,” or EREVs, which attach a gas-fueled generator to recharge the EV batteries while the car is being driven.
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“The $50k, $60k, $70k EVs just weren’t selling; We’re following customers to where the market is,” Farley said. “We’re going to build up our whole lineup of hybrids. It’s gonna be better for the company’s profitability, shareholders and a lot of new American jobs. These really expensive $70k electric trucks, as much as I love the product, they didn’t make sense. But an EREV that goes 700 miles on a tank of gas, for 90% of the time is all-electric, that EREV is a better solution for a Lightning than the current all-electric Lightning.”
It all makes sense to Mr. Farley, but one wonders how much longer the company’s investors will tolerate his presence atop the corporate management pyramid if the company’s financial fortunes don’t turn around fast.
To Ford’s and Farley’s credit, the company has, unlike some of its competitors (GM, for example), been quite transparent in publicly revealing the massive losses it has accumulated in its EV projects since 2022. The company has reported its EV enterprise as a separate business unit called Model-E on its financial filings, enabling everyone to witness its somewhat amazing escalating EV-related losses since 2022:
• 2022 – Net loss of $2.2 billion
• 2023 – Net loss of $4.7 billion
• 2024 – Net loss of $5.1 billion
Add in the company’s $3.6 billion in losses recorded across the first three quarters of 2025, and you arrive at a total of $15.6 billion net losses on EV-related projects and processes in less than four calendar years. Add to that the financial carnage detailed in Monday’s announcement and the damage from the company’s financial electric boogaloo escalates to well above $30 billion with Q4 2025’s damage still to be added to the total.
Ford and Farley have benefited from the fact that the company’s lineup of gas-and-diesel powered cars have remained strongly profitable, resulting in overall corporate profits each year despite the huge EV-related losses. It is also fair to point out that all car companies were under heavy pressure from the Biden government to either produce battery electric vehicles or be penalized by onerous federal regulations.
Now, with the Trump administration rescinding Biden’s harsh mandates and canceling the absurdly unattainable fleet mileage requirements, Ford and other companies will be free to make cars Americans actually want to buy. Better late than never, as they say, but the financial fallout from it all is likely just beginning to be made public.
- David Blackmon is an energy writer and consultant based in Texas. He spent 40 years in the oil and gas business, where he specialized in public policy and communications.
From the Daily Caller News Foundation
War Secretary Pete Hegseth is moving forward with a massive shakeup of military leadership, restructuring top commands and moving the U.S. focus away from Europe and the Middle East, according to a report out Monday.
Five sources with knowledge of the matter told The Washington Post the Pentagon is set to consolidate U.S. Central Command in the Middle East, U.S. European Command and U.S. Africa Command into a new larger combatant command, the U.S. International Command. Other commands would be similarly consolidated, reducing the total number of combatant commands from 11 to eight. The intended restructuring is designed both to reduce the number of admirals and four star generals and refocus the U.S. military on the Indo-Pacific and Western Hemisphere, according to the sources.
The plan would be one of the most significant changes to the military’s upper echelons in decades, and the move would bring the Pentagon more directly in line with the administration’s refocusing of priorities in the recently released National Security Strategy.
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“As a matter of Department of War policy, we will not comment on leaked documents that we cannot authenticate and rumored internal discussions, as well as specifics of architectural discussion or pre-decisional matters,” a War Department official told the Daily Caller News Foundation. “Beyond this, any insinuation there is a divide within the Department is completely false – everyone in the Department is working to achieve the same goal under this administration.”
The Post also reports the proposal was crafted under supervision by Chairman of the Joint Chiefs of Staff Gen. Dan Caine, at Hegseth’s request. Caine will also be sharing two alternate proposals on potential restructures.
Hegseth has been looking for ways to reduce the number of four star generals in the Armed Forces, which has roughly the same amount of generals now as during World War II.
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