We saw great news earlier with Federal Reserve Chair Jerome Powell hinting that interest rate cuts will be coming. Then, the Congressional Budget Office (CBO) estimated that tariffs on foreign countries will likely reduce the deficit by $4 trillion over the decade. Those stories likely helped to send the stock market soaring, with the Dow Jones hitting its all-time high.
READ MORE: More Winning: Stock Market Reacts to Powell’s Big Hint About Rates, Huge News About Tariffs
Now there’s more positive news. President Donald Trump and Canadian leader Mark Carney had a phone call on Thursday on trade issues. As a result, Carney announced on Friday that Canada would be dropping most of its retaliatory tariffs on the United States. After all the anger the liberals whipped up, Carney had to explain that they would remove tariffs on goods covered under the USMCA agreement.
Canadian Prime Minister Mark Carney announces that Canada will be DROPPING their retaliatory tariffs against the US and removing tariffs on US goods covered by existing trade deals.pic.twitter.com/Y9ONDpOk1g
— Libs of TikTok (@libsoftiktok) August 22, 2025
Carney said Canada will now match the US by ending its tariffs on goods compliant with the US-Mexico-Canada free trade agreement (USMCA). He said that would “re-establish free trade for the vast majority” of goods that move between the two countries.
The decision will go into effect on 1 September, Carney said. [….]
In a statement to the BBC’s US news partner CBS, the White House said it welcomes Canada’s move, adding that it is “long overdue” and that the US looks forward to continuing discussions with its northern neighbour about trade and national security.
Trump confirmed that, and it sounded like they made a lot of progress.
The elbows-up crowd said that Poilievre would “cozy up” to Trump.
Today Trump himself says he likes Mark Carney (twice).
He’s also said before he’s no friend of Poilievre.
So congrats Liberals you got played like absolute fools. pic.twitter.com/Sp43aM7kPW
— Marc Nixon (@MarcNixon24) August 22, 2025
Translation? Canada can posture all it wants. However, the bottom line is: we have the leverage, and they had to cave. They rely on us, even for national security. Trump knows it and can push them. That’s why Carney had to explain to the Canadians why their deal is better than that of other countries, and how important the relationship with the U.S. is.
READ MORE: Ante Up: Trump Announces 50% Tariff on Canadian Steel and Aluminum
Trump Pulls No Punches, Responds to Eurotrash ‘Allies’ Defying America Over a ‘Palestinian State’
They’re still working on the questions around steel, aluminum, and autos.
Canada, for its part, has placed 25% tariffs on American steel, aluminium and autos. Those will remain in place for now, Carney said.
Economists have warned that US tariffs on steel and aluminium are “hugely disruptive” to Canada, as it is a major supplier of both metals to the US. Canadian companies have already reported cutbacks and contract cancellations as a result.
Expect Canada to bring that down, too, after they talk again.
That’s more winning on the day, with likely more to come.
Editor’s Note: Thanks to President Trump’s leadership and bold policies, America’s economy is back on track.
Help us continue to report on the president’s economic successes and combat the lies of the Democrats. Join RedState VIP and use promo code FIGHT to get 60% off your membership.
