Parliament opened yesterday with the PM determined to keep his momentum going: a labour reform bill and a major liberalization of project permitting, including for pipelines. What happened to the Trudeau-era Liberals now getting behind Carney’s more conservative agenda? Are we witnessing the beginnings of a broader Canadian realignment, with the Liberals making breakthroughs in Saskatchewan and Alberta? And what is the risk of a spring federal election designed to capitalize on Carney’s current momentum and secure a large majority?

Trump’s threats and the trade war have rallied Canadians around the Prime Minister and narrowed the space for criticism of his government. How open are Canadians right now to criticism of Carney’s approach? Andrew argues that when a country is facing an external threat, voters are less interested in the usual cut-and-thrust of partisan politics. The problem for Pierre Poilievre is that this is the political style he knows best. For now, his best strategy may be to hunker down, weather the current environment and build a stronger position for the moment when—and if—the bloom comes off the rose for Carney and the Liberals.

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Trump says he is weighing whether to "annihilate" Iran next week. Is this another empty threat? We have reached a point where it is increasingly difficult to know how much weight to put behind his threats. The bond markets are beginning to speak, inflation is rising, and U.S. military capabilities are under strain. Trump pays attention to all three. The constraints on both sides are far tighter than they were nine months ago. So why continue with maximalist rhetoric that risks eroding American credibility and deterrence?

This week also saw Mark Carney and Ursula von der Leyen signal a much closer relationship between Canada and Europe, including the possibility of Canada becoming the EU’s first associate member. What does that actually mean? And why pursue this partnership when the world’s growth and dynamism are increasingly shifting toward Asia and the Indo-Pacific?

In the second half of the show, Rudyard and Janice turn to AI and a growing chorus of warnings from the industry’s own leaders, who are calling for stronger safeguards to limit the potential damage if AI systems break out and cause serious disruption to the systems that underpin our everyday life. How much weight should we put behind the argument that regulation and inspection could handicap American AI development and allow China to pull ahead?

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Andrew and Rudyard begin with several important announcements from Carney’s investment summit, including a cut to the marginal effective tax rate on new investment and the opening of Canada’s airports to private investment. The government is aggressively courting both domestic and foreign capital. There is still much more to do on tax and spending reform, and Canada needs to get serious about its deficit and debt—but these measures suggest we are moving in the right direction.

In the second half of the show, Rudyard and Andrew turn to Europe and the warm reception Canada’s prime minister is receiving from EU politicians and lawmakers. European Commission President Ursula von der Leyen has even floated the idea of Canada becoming an associate member of the European Union. What would that mean, and how could closer ties with Europe strengthen Canada’s economic prospects?

Andrew argues that Western democracies have a growing interest in standing together as they confront an increasingly assertive China and Russia and an America under Trump that is becoming a less predictable partner. Canada needs allies, and deeper economic and political ties with Europe could make strategic sense in this new geopolitical environment.

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Friday Focus returns from its summer hiatus to unpack two major geopolitical flashpoints.

First, the trade war with the United States—and its consequences. There has been a narrowing of the debate around Carney's approach. People are being labelled disloyal for dissenting from his strategy, but we need space for differing views. Tariffs are easy to impose and difficult to unwind. Will Trump turn to more punitive measures against Canada—from natural gas pipelines to banking licenses and work visas? The longer this confrontation drags on, the greater the risk that an already heated situation takes an even more dangerous turn.

Then, the Iran war and a sharp escalation over the past week. The Houthis have made major advances in Yemen, seizing critical outposts and tightening their grip on the Red Sea, one of the world’s most important trade routes. After a period of stalemate that was working against Iran, Tehran appears to be pursuing an “escalate to de-escalate” strategy: increasing pressure on the U.S. and driving up oil prices in an effort to force an end to the blockade. Will the U.S. respond by escalating further and increasing the pressure on Iran? How much economic pain can Trump tolerate at home heading into the midterms? And could he simply wake up one day and declare the war over?

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On this special edition of the Munk Debates podcast, we’re revisiting one of the classic debates from the series’ 18-year history: the Munk Debate on Religion, held in 2010 before a sold-out crowd of 3,000 at Toronto’s Roy Thomson Hall.

The debate resolution was: Be it resolved, religion is a force for good in the world.

Arguing for the motion former UK Prime Minister Tony Blair, who had recently converted to Catholicism.

Arguing against the resolution was the late Christopher Hitchens, an avowed atheist and the author of numerous bestsellers including God Is Not Great.

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Rudyard and Andrew unpack a consequential week in the Canada-U.S. trade war, from Trump’s increasingly erratic and provocative behaviour—including the absurd renaming of Lake Ontario—to his apparent preference for perpetual conflict over a lasting trade peace. Andrew believes Canada needs to diversify trade and reduce its vulnerability to U.S. pressure and manipulation. Will Trump’s approach alienate his Republican base ahead of the midterms? How are Canadian politicians capitalizing on the moment? And how much economic pain is Canada prepared to absorb? Andrew is optimistic that Canada is ready to hunker down for a long fight, potentially longer than Americans are prepared for.

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Rudyard and Andrew react to the intensifying Canada-U.S. trade war. Trump is threatening additional tariffs starting January 1, and it’s increasingly clear he was intent on escalating regardless of whether or not Carney walked away from the deal. Carney is putting his Davos message into action: middle powers need to free themselves from the grip of hegemons. It was the right call, with broad agreement in Canada that we cannot allow Trump to bully us into submission. There will be costs, but the cost of staying at the table may have been greater.

Should Canada pursue retaliatory tariffs? Will other countries being targeted by Trump follow Canada’s lead? And finally, can Canada use the upcoming U.S. midterms to pressure Trump into a better deal?

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Rudyard and Andrew unpack leaks from ongoing U.S.-Canada trade talks, which are focused only on the immediate threat of 50% tariffs on Canadian goods rather than negotiating a long-term deal. Even if Canada averts some of these tariffs, CUSMA negotiations lie ahead—and the leaks suggest we may not get full tariff relief on the issues that matter most, including steel, autos, software and lumber, while facing additional concessions on dairy supply management and digital policy.

How are these concessions consistent with Carney’s “elbows up” message? Andrew argues that trying to appease Trump risks feeding his appetite for further concessions. This isn’t a negotiation; it’s extortion. If the Trump administration continues to approach trade this way, Canada needs to mitigate this ongoing threat by becoming a more competitive market and diversifying trade.

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On this special edition of the Munk Debates podcast we are sharing the full Munk Debate on anti-Zionism, which took place in June 2024 in front of a sold out crowd of 3,000 people at Toronto’s Roy Thomson Hall.

The debate resolution was: Be it resolved, anti-Zionism is antisemitism

Arguing for the motion was award winning journalist, best-selling author, and former Munk Debater Douglas Murray. His debate partner was Natasha Hausdorff. She’s an attorney, international law expert, and legal director for the UK Lawyer for Israel Charitable Trust.

Opposing the resolution was Mehdi Hasan. Mehdi is a best-selling author, former NS Now anchor, and the CEO and editor-in-chief of the media company Zeteo. He was joined on stage by the award winning Israeli journalist and Haaretz columnist Gideon Levy.

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August 19 is fast approaching, and despite efforts to reach a deal, there is a real possibility that negotiations could collapse altogether. Do Canadian concessions actually reduce threats from Trump, or simply invite more demands? And if Trump agrees to a deal, will he renege later and demand more? Andrew argues that “ragging the puck”—stretching negotiations out as long as possible—may be Canada’s best strategy. The discussion also turns to Canada’s dairy subsidy and protection system: does protecting domestic dairy producers actually serve Canadian farmers, when it leaves Canadian consumers paying up to twice as much for dairy products?

In the second half of the show, Rudyard and Andrew turn to the continuing standoff over the Strait of Hormuz. How long can the crisis last? The United States appears trapped in a conflict it cannot easily walk away from. Iran is now the side issuing demands, while making a mockery of Trump’s threats and exposing the limits of American power. The damage isn’t just military—it has undermined the credibility of U.S. threats and security guarantees to its allies, which may prove even more consequential.

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This special episode features the Munk Debate on the Gene Editing, held before a live audience of 800 students and faculty at Deerfield Academy in April 2026.

Arguing in favour of the motion was the biophysicist, best-selling author, biotechnology entrepreneur, and the former director of the Program on Medicine, Technology and Society at UCLA School of Medicine, Gregory Stock. His debate partner was the internationally acclaimed strategic philosopher and pioneering transhumanist Max More.

Arguing against the motion was the prominent American bioethicist Ezekiel Emanuel, Special Advisor to the Director General of the WHO and a former founding chair of the Department of Bioethics at the NIH. His debate partner wass the award-winning educator, author, and Professor of Reproductive Science at University College London, Joyce Harper.

Become a Munk Donor ($50 annually) to get 72-hour advanced access to the full length editions of Friday Focus and Munk Dialogues. Go to www.munkdebates.com to sign up.

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