Business
Out-Trumping Trump: A Mission Without a Win

From the Frontier Centre for Public Policy
Diplomacy is often a world of planned whispers and subtle signals to communicate complex messages. So, even sleepy folks noticed when the PM made a much-publicized bold (and seemingly impromptu) move and flew to Florida to play Trump-Whisperer. What was the PM hoping to get from that appearance? The best way to evaluate such diplomatic moves is to measure results against expectations.
From start to finish, the trip read like Trump’s move, when the president flew in a similarly bold and unanticipated fashion to pacify the leader of North Korea, Kim Jong-un –the “Little Rocketman.” Trudeau’s trip to see Trump was modelled on Trump’s Korean trip; it was an attempt to out-Trump Trump. That was the expectation.
Amid talk of nuclear weapons deployment, Trump surprised the world in 2017 by going to North Korea to meet with the leader of the most insular country on the planet, a man the traditional media painted as an irrational lunatic. That is not unlike the image of Donald Trump that CBC and the MSM chorus in Canada present.
Similarly, Prime Minister Justin Trudeau surprised his followers and detractors, by flying to Mar-a-Lago, the capital of Trump’s world. The purpose was not to avoid a thermonuclear war but a trade war between the two countries. Such a trade war would hurt both countries but could devastate the “vibecessing” Canadian economy, which the Trudeau government is desperately trying to perk up expecting a general election in months.
The news was leaked once the Prime Minister was in the air heading south. A flood of commentators, who pretended to have no authority to speak on the subject, began to discuss what the trip meant and how brave and bold, silly or foolish, the Prime Minister was for undertaking it. This was like the attention surrounding Trump’s journey to North Korea.
The most surprising aspect of the announcement was that Trump had previously mocked and ridiculed the North Korean leader. While we don’t have direct insight into what the North Koreans called Trump at the other end, it was probably far from flattering. Consequently, it was hard to imagine how their interactions would play out. Many argued that the two men had nothing in common, often expressing this with professorial certainty.
There is no evidence that Prime Minister Trudeau has ever called Trump any nasty names in public, but Trump has not been as careful. After the G7 meeting in 2018, Trump referred to Trudeau as being “weak and dishonest.” However, we do know that Justin’s favourite boogeyman is the American “extreme-right,” of which progressive Canadians think Trump is the godfather. Whatever Trudeau and prominent government ministers think of Trump conservatives, they also think of Trump. There are many examples of how government members weaponized the concept. In October 2024, Deputy Prime Minister Chrystia Freeland addressed criticisms from Conservative MPs by stating she wasn’t intimidated by “juvenile playground insults from the wannabe MAGA maple syrup Conservatives.” Similarly, amid discussions about Prime Minister Trudeau’s leadership in October 2024, some government members referred to Conservative Leader Pierre Poilievre as “Maple MAGA” or “Canada’s Donald Trump,” expressing platitudes about threats to democracy. Readers might also recall how every lieutenant in the Trudeau legions pretended MAGA Trumpeteers and Trump himself had crushed Roe v. Wade and then claimed Canada’s Conservatives would do the same.
The PM, too, indulged in the same kind of attack during a July 2023 visit to the Baitun Nur Mosque in Calgary. During the event, Trudeau addressed concerns among the Muslim community regarding his support for the Transexual agenda and the claims of inclusive education in schools. He quickly invoked the anti-American narrative, shaming the man who posed the question for accepting what Trudeau labelled as radical right-wing American propaganda. Trudeau suggested that misinformation about Canada’s sexual education curriculum was being propagated by “the American right-wing,” which he argued was causing unnecessary division and fear among Canadians.
Many people were surprised to see Trump attempting what others had never tried in North Korea. That reaction was akin to that of Canadians who knew what Trudeau and his cabinet had said about Donald Trump and the American right. For Prime Minister Trudeau it was a victory to show pictures of his foray into Trumpian Mordor, giving him the chance to appoint himself the hero who will stop the detonation of a 20 percent tariffs trade bomb.
Immediately following the US election, the Trudeau cabinet quickly backtracked on the Trump insults. They suddenly forgot how they were presenting Trump as the figure behind Pierre Poilievre and his “extreme right-wing politics.” This was done with the same enthusiasm that Trudeau’s critics summon when joking about his supposed genetic connection to Fidel Castro.
Trump’s visit to North Korea reduced some of the heated rhetoric between the two countries; however, the North Korean Stalinist regime remains intact, along with its nuclear capabilities. Trump and Kim Jong-un did not sign any treaty to regulate nuclear weapons or establish lasting peace between their nations. Similarly, Prime Minister Trudeau returned from Florida without any significant outcomes.
There was no joint statement or announcement of an agreement. There were promises to continue discussions, which does not constitute a victory. All Trudeau can claim is a public relations victory like the one Trump touted after his return from North Korea, and that is not insignificant. But showing that Trump was not mean to him is hardly a diplomatic victory.
Trump provided Trudeau with opportunities for photo sessions without conceding anything or making any promises. He maintained his firm demand that Canada strengthen its border security to prevent drugs and potential terrorists from crossing freely. Trump takes satisfaction in the fact that a man he despises travelled to plead with him for leniency regarding his tariff threats. He is fully aware of this dynamic.
Prime Minister Trudeau may portray himself as someone who understands Trump well, but Trump holds the upper hand. He knows Trudeau is “weak” and desperately desires to maintain himself in power, despite his low popularity. Furthermore, Trump understands that Trudeau is willing to make significant political sacrifices to achieve a seemingly favourable resolution to the border issues. Trudeau badly needs a win, and Trump knows that Trudeau is willing to jeopardize his country’s economy to win. Consequently, Trump will likely capitalize on Trudeau’s vulnerabilities for all they are worth.
Trump understands that Trudeau is the ideal Canadian leader to engage with him, which should make Trudeau the least suitable person to negotiate with Trump if Canada’s interests are to be protected.
From that perspective, Trudeau’s trip to Florida is unlike Trump’s trip to North Korea. While both leaders sought to leverage their trips for political and public relations gains, the outcomes reveal the limitations of symbolic diplomacy and Trudeau’s inability to turn the trip into a long-term win. The latter is as much a function of the PM’s lack of skill as it is of the perception among voters that he is veritably done, no matter what.
Prime Minister Trudeau believes he is the only one who can deal with Trump from a position of strength, which is incorrect. His government has gimmicks but no strength left. That is why the prime minister pleads for a Team Canada approach to Trump and quickly condemns skepticism of his abilities as a national betrayal.
Trump will take advantage of that weakness –and if he can nail a man he despises as weak and woke, he will enjoy it the more. Out-Trumping Trump for domestic advantage was a fool’s errand.
Marco Navarro-Genie is VP Policy and Research at the Frontier Centre for Public Policy. He is co-author, with Barry Cooper, of COVID-19: The Politics of a Pandemic Moral Panic (2020).
Business
Hudson’s Bay Bid Raises Red Flags Over Foreign Influence

From the Frontier Centre for Public Policy
A billionaire’s retail ambition might also serve Beijing’s global influence strategy. Canada must look beyond the storefront
When B.C. billionaire Weihong Liu publicly declared interest in acquiring Hudson’s Bay stores, it wasn’t just a retail story—it was a signal flare in an era where foreign investment increasingly doubles as geopolitical strategy.
The Hudson’s Bay Company, founded in 1670, remains an enduring symbol of Canadian heritage. While its commercial relevance has waned in recent years, its brand is deeply etched into the national identity. That’s precisely why any potential acquisition, particularly by an investor with strong ties to the People’s Republic of China (PRC), deserves thoughtful, measured scrutiny.
Liu, a prominent figure in Vancouver’s Chinese-Canadian business community, announced her interest in acquiring several Hudson’s Bay stores on Chinese social media platform Xiaohongshu (RedNote), expressing a desire to “make the Bay great again.” Though revitalizing a Canadian retail icon may seem commendable, the timing and context of this bid suggest a broader strategic positioning—one that aligns with the People’s Republic of China’s increasingly nuanced approach to economic diplomacy, especially in countries like Canada that sit at the crossroads of American and Chinese spheres of influence.
This fits a familiar pattern. In recent years, we’ve seen examples of Chinese corporate involvement in Canadian cultural and commercial institutions, such as Huawei’s past sponsorship of Hockey Night in Canada. Even as national security concerns were raised by allies and intelligence agencies, Huawei’s logo remained a visible presence during one of the country’s most cherished broadcasts. These engagements, though often framed as commercially justified, serve another purpose: to normalize Chinese brand and state-linked presence within the fabric of Canadian identity and daily life.
What we may be witnessing is part of a broader PRC strategy to deepen economic and cultural ties with Canada at a time when U.S.-China relations remain strained. As American tariffs on Canadian goods—particularly in aluminum, lumber and dairy—have tested cross-border loyalties, Beijing has positioned itself as an alternative economic partner. Investments into cultural and heritage-linked assets like Hudson’s Bay could be seen as a symbolic extension of this effort to draw Canada further into its orbit of influence, subtly decoupling the country from the gravitational pull of its traditional allies.
From my perspective, as a professional with experience in threat finance, economic subversion and political leveraging, this does not necessarily imply nefarious intent in each case. However, it does demand a conscious awareness of how soft power is exercised through commercial influence, particularly by state-aligned actors. As I continue my research in international business law, I see how investment vehicles, trade deals and brand acquisitions can function as instruments of foreign policy—tools for shaping narratives, building alliances and shifting influence over time.
Canada must neither overreact nor overlook these developments. Open markets and cultural exchange are vital to our prosperity and pluralism. But so too is the responsibility to preserve our sovereignty—not only in the physical sense, but in the cultural and institutional dimensions that shape our national identity.
Strategic investment review processes, cultural asset protections and greater transparency around foreign corporate ownership can help strike this balance. We should be cautious not to allow historically Canadian institutions to become conduits, however unintentionally, for geopolitical leverage.
In a world where power is increasingly exercised through influence rather than force, safeguarding our heritage means understanding who is buying—and why.
Scott McGregor is the managing partner and CEO of Close Hold Intelligence Consulting.
Bjorn Lomborg
Net zero’s cost-benefit ratio is crazy high

From the Fraser Institute
The best academic estimates show that over the century, policies to achieve net zero would cost every person on Earth the equivalent of more than CAD $4,000 every year. Of course, most people in poor countries cannot afford anywhere near this. If the cost falls solely on the rich world, the price-tag adds up to almost $30,000 (CAD) per person, per year, over the century.
Canada has made a legal commitment to achieve “net zero” carbon emissions by 2050. Back in 2015, then-Prime Minister Trudeau promised that climate action will “create jobs and economic growth” and the federal government insists it will create a “strong economy.” The truth is that the net zero policy generates vast costs and very little benefit—and Canada would be better off changing direction.
Achieving net zero carbon emissions is far more daunting than politicians have ever admitted. Canada is nowhere near on track. Annual Canadian CO₂ emissions have increased 20 per cent since 1990. In the time that Trudeau was prime minister, fossil fuel energy supply actually increased over 11 per cent. Similarly, the share of fossil fuels in Canada’s total energy supply (not just electricity) increased from 75 per cent in 2015 to 77 per cent in 2023.
Over the same period, the switch from coal to gas, and a tiny 0.4 percentage point increase in the energy from solar and wind, has reduced annual CO₂ emissions by less than three per cent. On that trend, getting to zero won’t take 25 years as the Liberal government promised, but more than 160 years. One study shows that the government’s current plan which won’t even reach net-zero will cost Canada a quarter of a million jobs, seven per cent lower GDP and wages on average $8,000 lower.
Globally, achieving net-zero will be even harder. Remember, Canada makes up about 1.5 per cent of global CO₂ emissions, and while Canada is already rich with plenty of energy, the world’s poor want much more energy.
In order to achieve global net-zero by 2050, by 2030 we would already need to achieve the equivalent of removing the combined emissions of China and the United States — every year. This is in the realm of science fiction.
The painful Covid lockdowns of 2020 only reduced global emissions by about six per cent. To achieve net zero, the UN points out that we would need to have doubled those reductions in 2021, tripled them in 2022, quadrupled them in 2023, and so on. This year they would need to be sextupled, and by 2030 increased 11-fold. So far, the world hasn’t even managed to start reducing global carbon emissions, which last year hit a new record.
Data from both the International Energy Agency and the US Energy Information Administration give added cause for skepticism. Both organizations foresee the world getting more energy from renewables: an increase from today’s 16 per cent to between one-quarter to one-third of all primary energy by 2050. But that is far from a transition. On an optimistically linear trend, this means we’re a century or two away from achieving 100 percent renewables.
Politicians like to blithely suggest the shift away from fossil fuels isn’t unprecedented, because in the past we transitioned from wood to coal, from coal to oil, and from oil to gas. The truth is, humanity hasn’t made a real energy transition even once. Coal didn’t replace wood but mostly added to global energy, just like oil and gas have added further additional energy. As in the past, solar and wind are now mostly adding to our global energy output, rather than replacing fossil fuels.
Indeed, it’s worth remembering that even after two centuries, humanity’s transition away from wood is not over. More than two billion mostly poor people still depend on wood for cooking and heating, and it still provides about 5 per cent of global energy.
Like Canada, the world remains fossil fuel-based, as it delivers more than four-fifths of energy. Over the last half century, our dependence has declined only slightly from 87 per cent to 82 per cent, but in absolute terms we have increased our fossil fuel use by more than 150 per cent. On the trajectory since 1971, we will reach zero fossil fuel use some nine centuries from now, and even the fastest period of recent decline from 2014 would see us taking over three centuries.
Global warming will create more problems than benefits, so achieving net-zero would see real benefits. Over the century, the average person would experience benefits worth $700 (CAD) each year.
But net zero policies will be much more expensive. The best academic estimates show that over the century, policies to achieve net zero would cost every person on Earth the equivalent of more than CAD $4,000 every year. Of course, most people in poor countries cannot afford anywhere near this. If the cost falls solely on the rich world, the price-tag adds up to almost $30,000 (CAD) per person, per year, over the century.
Every year over the 21st century, costs would vastly outweigh benefits, and global costs would exceed benefits by over CAD 32 trillion each year.
We would see much higher transport costs, higher electricity costs, higher heating and cooling costs and — as businesses would also have to pay for all this — drastic increases in the price of food and all other necessities. Just one example: net-zero targets would likely increase gas costs some two-to-four times even by 2030, costing consumers up to $US52.6 trillion. All that makes it a policy that just doesn’t make sense—for Canada and for the world.
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