Update on Premiers meeting in Saskatoon, Conservatives questions on counter tariffs by Liberals, OECD report on global economic outlook.

June 03, 2025 00:38:53
Update on Premiers meeting in Saskatoon, Conservatives questions on counter tariffs by Liberals, OECD report on global economic outlook.
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Update on Premiers meeting in Saskatoon, Conservatives questions on counter tariffs by Liberals, OECD report on global economic outlook.

Jun 03 2025 | 00:38:53

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Show Notes

In today's News Takeaway, hosts Jaspreet Sidhu and Vasu Kumar cover key political and economic developments impacting Canada and the globe. From the Premiers’ meeting in Saskatoon addressing provincial priorities, to Conservative Party pressure on the Liberals over counter-tariffs, and a deep dive into the OECD's latest global economic outlook report, this episode brings insightful discussion and informed commentary on what these updates mean for Canadians.

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Episode Transcript

[00:00:01] Speaker A: And now news takeaway. [00:00:11] Speaker B: News takeaway segment Good morning. [00:00:15] Speaker A: Just please. Good morning. Connect or connect Good morning. Better. Better than yesterday. Getting better slowly. There's so many homemade recipes. Honestly, it's getting better on its own. So I did not try anything. It's getting better. Not at all. Ipl. You know too much cricket. I know. Final chalde Punjab Bangalore so RCB Kings but it's very difficult to invest your emotions in a team. It's hard for me to relate to any team in any league. You know, it's too much cricket happening. I'm not invested. I know. [00:02:17] Speaker B: Okay. Get well soon. Okay? [00:02:28] Speaker A: Yeah, I know. But it's getting better. [00:02:36] Speaker B: I'm very thankful. I'm very grateful to all the listeners. Religiously. Religiously. Messages Good morning the message. That's why I'm saying like it's so heartwarming. But thank you so much. Okay. News takeaway segment Kaljari meeting First ministers the meeting Saskatoon de Bichui Prime Minister Mark Karni Di Tulna Kiti Santa Claus Binal. [00:04:29] Speaker A: Prime Minister with projects final list Shahari Kitijai Kit so Iskar K Reporters meeting the Vijay meeting the agenda Interprovincial trade barriers projects fast track Memorandums of understanding the sign Provincial trade barriers concrete action Daniel Smith narrative Oil pipeline pipeline Alberta BC Tucker B Bitter Premier British Columbia Premier Asia diversification Daniel Smith pipeline Alberta British Columbia priority projects project so pipeline premiers Alberta, Saskatchewan Manitoba Ontario in fact oil and gas pipeline North South Sarnia pipeline Daniel Smith with the Nigal Cardini Scott movie. [00:08:35] Speaker B: Prime minister living list as such. [00:09:05] Speaker A: Behind closed doors commitments behind closed doors. [00:09:25] Speaker B: Absolutely. [00:09:28] Speaker A: Political representatives British Columbia British Colombians so Conservatives knew Liberals vice versa election Hohata Hon Sade Prime Minister Bangani Markarney Prime Minister name Liberals Liberal Prime Minister name we in a Kamiya Bhone Conservatives so Conservatives rebuilding phase so let's hope yeah. [00:11:59] Speaker B: National importance project. [00:12:07] Speaker A: Conservative stripes their premier's name political narrative national sentiment pipelines conventional energy at least so let's See Fast Tracking 5 Point Criteria Economy autonomous money expand high likelihood of execution we project we will project indigenous project clean growth contribution. [00:14:01] Speaker B: Which of course Premier David Ebinu represent provincial standards in consultation. [00:14:28] Speaker A: British Columbia Bill 14 to Bill 15 pass Indigenous they will have to be you know doubly sure indigenous so projects so did he exceed a one Canada economy legislation Prime Minister closed door meeting so let's see Prime Minister British Columbia Bakisare Premiers British Columbia pipelines conventional energy British Columbia confused Premier Academy we will cross that bridge when we get there Bcndb Conventional energy so we were the odd ones out in Fact Social Media YouTube Deputy Premier Sipame British Columbia so maybe British Columbia. [00:16:59] Speaker B: First Minister meeting Let us call it a grand bargain. [00:17:42] Speaker A: Angry young woman Daniel Smith Federal politics. [00:18:01] Speaker B: So that still remains Absolutely listener Nayona the message Morning shows on rank Andikoshafti Throat infection Sanitize Karna lagda rule number 75 section C. [00:18:41] Speaker A: Yeah. [00:18:48] Speaker B: I'll be honest. [00:18:54] Speaker A: Thank you. Thank you so much. [00:19:13] Speaker B: Conservative Party US President Donald Trumper Revenue generation Conservative Party Day members name Parliament of course Prime Minister First Ministers Philippe Champagne. [00:20:19] Speaker A: Election campaign Political parties Election platforms which Liberal Party if I'm not mistaken Industries businesses Conservatives campaign counter tariffs no V billion dollar the revenue so Dono Party Conservative campaigns Canada estimates Fiscal monitor extra revenue Custom duties Export duties extra so significant chunk of money so is context which Conservatives Pandra Apparel no Canada counter tariffs Donald Trump Nisanurif New pause Kara Usto Char Danabad Uniya prayer no Liberals UPNA electoral election platform Jantakar there. [00:24:04] Speaker B: Yeah. [00:24:20] Speaker A: Economic statement again this comes back to the same discussion economic statement thus then they Keji Sadh revenue expectations present context so Jovi Fiscal deficit in a debt economic statement that would have sufficed politically responsibility the accountability fiscal accountability. [00:26:00] Speaker B: Uncertainty Conservatives. [00:26:10] Speaker A: Exactly bank of Canada Monetary Policy Report bank of Canada projections multiple scenarios economic statements projections Dunyani projections Donald Trump Winter session. [00:27:44] Speaker B: Bank of Canada interest rates update with you. [00:27:50] Speaker A: Sure. [00:27:53] Speaker B: Interested 2.75% right now. [00:28:15] Speaker A: First quarter the GDP SADI GDP expectation see 1.7% economy support the load interest rate so bank of Canada interest rates inflation inflation 1.7% 1 to 3% target a Bank. [00:28:43] Speaker B: Of Canada. [00:28:46] Speaker A: So 1.7% inflation inflationary pressures bank of Canada interest rate economic weakness economy support the load money supply interest rate so unemployment 6.9% plus on top of that projection second to third quarter so GDP contract that is recession technically so. [00:29:56] Speaker B: US companies Bank of Canada. [00:30:33] Speaker A: 3 out of 4 chance 4 out of 5 women bank of Canada hold Karega rate 10% 2.75% as you rightly mentioned by the end of this year overnight lending rate Economists institutions Sari apnea projections expectations billions of dollars billion dollar Hoga so used to Hogaya expectations so Federal Sarkaru again spring the veget economic statement. [00:32:07] Speaker B: OECD Organization for Economic Cooperation and Development Global economic growth. [00:32:22] Speaker A: Slow hoagie growth economic outlook global GDP 10.8% growth 10% GDP growth globally 10.8% growth again so global GDP dou point zero percent dou zero point nine percent grow Karagi so a trimmed down estimate expectations growth global GDP 10.10% growth 2.9% estimate main reason Donald Trump on average global GDP after two years 0.10% cut global GDP the 0.10 so the dust percent tariff Donald Trump global GDP 0.10 Donald Trump so individually Canada the GDP 0.5 we saw Pachi Devech so March we saw Pachiwech Canadian GDP 0.7% grow Karniya hone Kara Canadian GDP we saw Pachich 8% grow Karigi so Canada vaste upward revision 0.7% GDP growth 1.1% growth Hoegi for the context GDP projection so 0.7% see March which hone Karani 8% 8.8% Canadian GDP growth 1.7% the expectation see first quarter the in the very short term in the long run long term in the long term we are all dead so in the very short term Donald Trump Engineer tariffs so OECD VGD growth projection for Canada Growth projection March economy 1.6 yeah. [00:36:50] Speaker B: So US for this year 1.6 pay. [00:36:53] Speaker A: For next year 1.5 1.6% growth next year so Donald Trump so March 1.6% so that's a significant downward revision China the economy is all char point sad percent grow karagi march percent growth 10% Chinese economy grow karigi point char percent c sorry Mars the which projection char point char percent the Europe the march unchanged so march 1.1% 1.2% so now Europe as you said yeah so let's see yeah. [00:38:46] Speaker B: Costco Vijas thank you so much. Thank you so much. [00:38:52] Speaker A: Thank you. Thank you very much.

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