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Danielle Smith Under Fire for US Appeal

Alberta Premier Danielle Smith has found herself facing intense scrutiny after audio emerged suggesting she asked officials in the US to delay trade actions that could benefit Conservative Party leader Pierre Poilievre’s electoral prospects in Canada.

The recorded comments, posted by journalist Courtney Theriault, featured Smith expressing her hope that the US would “put things on pause” until after the next federal election, noting that Poilievre’s positions were more in line with President Donald Trump and “the new direction of America.”

You can read more on the matter here.

What’s going on?

• US Weighs Military Buffer Zone Plan for Southern Border (theDeepDive)

• Poilievre pledges $14B annual income tax cut, saving average worker $900 a year (CBC)

• Carney Calls For Snap Election, Hoping To Win Mandate To Counter Trump (theDeepDive)

• Trump to hit countries that buy Venezuelan oil with 25% tariff (FT)

• Trump administration reportedly planning to exclude sector-specific tariffs on April 2 (Globe)

• Poilievre Promises Faster Resource Project Approvals as Canada Heads to Polls (theDeepDive)

• US and Russia in Black Sea ceasefire talks after overnight strikes pound Ukraine (Reuters)

• Why British and German Tourists Are Being Warned About US Travel (theDeepDive)

• Heathrow Airport had enough power to avoid shutdown after fire, Britain’s National Grid says (CNBC)

What’s the latest?

• Hyundai: Hyundai is set to announce a $20 billion U.S. investment on Monday, including a $5 billion steel plant in Louisiana that will create 1,500 jobs. The plant will produce next-gen steel for Hyundai’s U.S. electric vehicle plants. The announcement, expected at the White House alongside President Donald Trump and Louisiana Gov. Jeff Landry, highlights Hyundai’s efforts to avoid tariffs by increasing U.S. production. Hyundai is also unveiling plans for a third automotive plant in Georgia.

• 23andMe: 23andMe has filed for Chapter 11 bankruptcy after struggling for years to build a sustainable business model. CEO Anne Wojcicki resigned immediately but will remain on the board. The company, once valued at $6 billion after going public in 2021, failed to turn a profit and laid off 40% of its workforce last year. Following mass resignations by its independent directors in September 2024, 23andMe is now pursuing a court-supervised sale process. Its core product, a DNA testing kit offering genetic insights, failed to convert buyers into long-term subscribers, ultimately leading to the firm’s downfall

• Odd Burger: Odd Burger suspended its US$2 million U.S. expansion plans due to worsening U.S.-Canada trade relations and will instead invest in Canadian manufacturing and franchise operations. The company aims to support Canadian businesses by promoting locally made plant-based products and sees strong growth potential in Canada. Canadian consumers have been shifting away from U.S. goods amid rising trade tensions, with several Canadian businesses, including alcohol makers, impacted by tariffs.

• Geopolitics: President Trump announced a 25% tariff on countries trading with the U.S. if they buy oil and gas from Venezuela, effective April 2. U.S. crude rose 1.04% to $68.99 per barrel, while Brent increased 0.93% to $72.83 per barrel. The move aims to pressure Venezuela’s Maduro regime, limit China’s influence in its oil sector, and potentially benefit Chevron, which has until April 3 to wind down operations in Venezuela.

• Tax Revenue: IRS and Treasury officials expect a 10% drop in tax revenue by April 15, potentially exceeding $500 billion in lost federal income. The decline is attributed to taxpayer avoidance and cuts at the IRS under President Trump, with thousands of jobs expected to be eliminated due to Elon Musk’s Department of Government Efficiency. Increased online chatter suggests more people plan to evade taxes or make aggressive claims, although the Treasury has denied these reports.

Gold Royalty Q4 Earnings

The stock market and stuff

• Bayer Hit with $2.1 Billion Verdict in Latest Roundup Cancer Case (theDeepDive)

• Google’s $32 billion Wiz deal may signal a turning point for slow IPO, M&A markets (CNBC)

• Vaulta and Spirit Blockchain: Pioneering the Future of Web3 Banking and DeFi Innovation (theDeepDive)

• BYD’s annual sales top $100bn for first time (FT)

• NexGen Energy Makes New High Grade Discovery At Rook I Project (theDeepDive)

In the juniors

• Odd Burger Cancels Expansion Plans To US Amid Tariff War (theDeepDive)

• K92 Q4 Earnings: Making Money Hand Over Fist (theDeepDive)

• Aris Mining Q4 Earnings: Always Read The Fine Print (theDeepDive)

• McEwen Mining Q4 Earnings: Lots Of Room For Improvement (theDeepDive)

FULL DISCLOSURE: Cytophage Technologies is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cytophage Technologies. The author has been compensated to cover Cytophage Technologies on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.