Rudyard and Janice open the show with Trump’s “Liberation Day” tariff announcements and specifically China’s response: a punishing 34% countervailing tax on all imports from the US. Is this the start of a more dangerous moment between these two adversaries? President Trump is about to find out how vulnerable the US is to China, and how easy it is to start an economic war but how hard it is to end it. In the second half of the show Rudyard and Janice turn their attention to Canada, which was conspicuously absent from Trump’s Wednesday tariff announcement. What can we expect when CUSMA – our free trade agreement with the US – gets renegotiated after the election?