Canadian Minister LeBlanc on retaliating against Trump tariffs: ‘We’re not waiting by the phone’

Watch on YouTube ↗  |  August 25, 2026 at 13:21  |  10:30  |  CNBC
Speakers
Dominic LeBlanc — Canadian Minister responsible for Canada-U.S. trade

Summary

Canadian Minister Dominic LeBlanc explains the breakdown in U.S.-Canada trade talks, saying Canada is not responding to President Trump's social media posts and is focused on building its own economy. He details sticking points including medium and heavy duty truck tariffs and French-language content discoverability, while noting Canada had agreed to remove digital services taxes on American streamers such as Netflix. LeBlanc also defends Canada's trade leverage and says retaliatory tariffs are expected to be announced today.

  • LeBlanc says Canada deliberately does not respond to daily social media posts and is focused on strengthening its economy.
  • U.S.-Canada talks broke down over gaps including auto tariffs on medium and heavy duty Ford and GM trucks.
  • Canada had agreed to remove the digital services tax and reduce taxes on American streamers like Netflix.
  • LeBlanc argues Canada has leverage as the top export destination for 26 U.S. states and a key supplier of oil, gas, and potash.
  • He acknowledges competitiveness and permitting concerns and says accelerated permitting legislation is coming next month.
  • Canada expects to announce retaliatory tariffs today to protect critical domestic sectors.
  • LeBlanc says Canada has signed 20 trade deals worth tens of billions of dollars with other economies over the past year.
Ideas
Dominic LeBlanc Canadian Minister responsible for Canada-U.S. trade 6:31
Canada removing streamer taxes benefits Netflix
LeBlanc says Canada agreed to remove the digital services tax and reduce the payments/taxes that would have applied to American streaming services, explicitly citing Netflix as an example. The financial aspects of the streaming tax dispute were resolved, reducing a Canada-specific tax and cost burden on Netflix even though the broader U.S.-Canada trade package was not completed.
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This CNBC video, published August 25, 2026, features Dominic LeBlanc discussing NFLX. 1 trade idea extracted by AI with direction and confidence scoring.

Speakers: Dominic LeBlanc  · Tickers: NFLX