"Shark Tank" star and investor Kevin O'Leary urged Americans to focus on long-term economic opportunities in Canada, dismissing the trade talks’ collapse as mere noise.
Trump Terminates Trade Talks Over Controversial Ad
On Thursday, President Donald Trump announced the termination of all ongoing trade discussions with Canada after an advertisement from Ontario criticized U.S. tariffs.
The ad, quoting former President Ronald Reagan, states that tariffs "hurt every American."
Trump called the ad fraudulent and accused Canada of trying to influence U.S. Supreme Court decisions. "ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED," he said on Truth Social.
Kevin O'Leary Focuses On The Long Game
O'Leary took to social media and urged people to ignore the short-term noise and focus on Canada's economic fundamentals.
"Everyone's panicking about tariffs, trade wars, and diplomatic noise. I don't care about noise, I care about the signal," the Canadian businessman said.
O'Leary said that Canada and the U.S. have the potential to form a North American economic alliance capable of outspending and outpowering global competitors, particularly China.
"China's goal is to become the world's largest economy, and they'll use tariffs and negotiation tactics to get there. But the long game is a North American alliance that can outspend and outpower any competitor," he explained.
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Investing In Canada's Energy And Land
Highlighting specific opportunities, O'Leary said he's actively investing in Canadian energy and land.
"I ignored Canada for a decade because of bad policy and weak leadership, but that's changing. The new government is smarter, the opportunity is massive, and the fundamentals are strong," he said.
O'Leary's message was clear: short-term diplomatic turbulence should not deter investors from Canada's long-term potential. "The future belongs to those who read the signal and tune out the noise," he concluded.
Canada Looks To Diversify Trade Amid US Tariffs
Trump's move came ahead of an anticipated U.S.–Canada trade deal that could have been unveiled at the APEC summit in South Korea, involving steel export quotas in exchange for lower U.S. tariffs.
Canada is grappling with major economic headwinds triggered by U.S. tariffs. Prime Minister Mark Carney has set an ambitious target to double the country's non-U.S. exports within the next decade.
The country has also been seeking targeted trade agreements with the U.S.--particularly in the steel sector--which it views as vital to maintaining economic stability amid the ongoing tariff dispute.
Read Next:
- Trump Tariffs May Fuel Margin Squeeze, But Not Inflation, Economist Says
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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