About this episode

Frank McKenna and Rona Ambrose discuss trade negotiations between Canada and the US and analyze Canada's recent budget.

Episode 70 of Geopolitics is a bonus episode taken from a panel at our recent Portfolio Management and Market Structure Conference. Frank McKenna is joined by his TD colleague The Honorable Rona Ambrose, Deputy Chairwoman, TD Securities, and former leader of the Conservative Party in Canada, for a discussion that includes the on again off again trade negotiations between Canada and the US and a review of last week's budget in Canada. While Frank admits the budget was likely over-hyped and a disappointment, Rona takes direct aim at the fact the incumbent government clearly stated that younger generations will need to suffer and made no attempts to appease the interest of the other parties in parliament with its budget decisions. Frank admits he still does not know what Trump's end goal in trade negotiations with Canada is but believes the end deal between the two countries is likely to be much narrower than anticipated originally. This podcast was recorded on November 6, 2025 Chapter Times: 02:09 - Trump's Real Motivation for Suspending Trade Negotiations 20:33 - The View Inside the Republican Party on Trade 23:09 - Supreme Court Appears Skeptical of Trump's Use of IEEPA 28:14…

People in this episode

Host: Frank McKenna

Guest: Rona Ambrose

Topics covered

• trade negotiations
• Canada budget
• US-Canada relations
• political analysis
• economic policy

Keywords

• trade update
• Canada budget
• US negotiations
• political debate
• economic impact

Mentioned in this episode

Organizations: TD Securities, Conservative Party

Places: Canada, US, Republican Party

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