Welcome back to Inside the Village, a one-of-a-kind podcast where all news is local — and no topic is off-limits.
On this week's episode: We talk tariffs (and a whole lot more) with an Ontario CEO who has a very unique vantage point.
Michael Garcia is chief executive officer of Algoma Steel, a Sault Ste. Marie-based manufacturer that ships approximately half of its output south of the border. He also happens to be an American citizen who served in the U.S. army and earned his MBA from Harvard Business School.
We invited Garcia on the podcast to talk in detail about how Donald Trump's threatened tariffs could wreak havoc on his company. But we also wanted to ask him why he thinks the U.S. president is so bent on protectionism.
“It's hard to explain that," Garcia said. "All I can say is that as an American citizen, I want the U.S. to prosper and to be a healthy, safe, beautiful place to live. I want the exact same thing for Canada."
“I really believe that free trade is part of what can make North America a fantastic, stable, prosperous part of the world, and I think that’s been shown if you look back over the last 50, 60, 70 years," he continued. "But it’s obvious that the current president has a different theory, and whether he came up with it on his own or whether he’s been influenced by certain academics or quasi-academics, he believes that there is something out of balance.”
Garcia said it's possible that Trump legitimately believes Canada isn't doing enough to crack down on cross-border fentanyl traffickers, and is threatening tariffs until more action is taken.
"Or he believes that closing off the U.S. and putting a 25 per cent tariff on anything coming into the U.S. is what’s going to lead to the prosperity of the U.S. country, the U.S. economy, it’s going to lead to jobs," Garcia said. "I don’t believe that. It certainly won’t happen in the short-term. There will be a lot of pain in the short-term. And I don’t even think it will lead to fundamentally rebuilding large sections of manufacturing in the U.S."
As this trade war unfolds, Garcia's perspective is worth a listen.
Hosted by Scott Sexsmith and Michael Friscolanti, the Editor-in-Chief of Village Media, Inside the Village is a news and current affairs podcast that provides a weekly window into some of the best local journalism from across our chain of Ontario newsrooms. Produced by Derek Turner, the program also explores bigger-picture issues that impact people across the province.
Every episode can be found HERE. If you prefer the audio version, it is available wherever you find your favourite podcasts.
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