Chief U.S. negotiator for the original NAFTA agreement, Carla A. Hills, says the president's threat of 35 per cent tariffs on Canadian goods on Aug. 1 is 'like shooting your sibling in the heart.' Prime Minister's Council on Canada-U.S. Relations member Arlene Dickinson argues the threat isn't a surprise, and that there's likely to be some level of tariffs even if a deal is reached. Plus, our political insiders discuss whether it's time to panic, or if the U.S. president's repeated reversals and the White House's clarification that CUSMA-compliant goods will still be exempt takes the sting out of the threat.

The NDP will choose a new leader in March in a contest with a $100,000 entry fee, sources tell CBC News and Radio-Canada. The Power Panel breaks down the questions about the NDP's identity that need to be solved if it hopes to recover from a severely reduced caucus in the last election. Plus, Ontario Minister of Economic Development Vic Fedeli says the province is 'all in' on electric vehicle subsidies despite the U.S. reversal on nearly all tax incentives for buying EVs.

As columnists for the Toronto Sun and National Post report on rumblings of discontent with Pierre Poilievre's leadership among Conservative supporters at the Calgary Stampede, the Power Panel discusses whether support for Poilievre is fading following this year's federal election loss. Plus, former assistant parliamentary budget officer Sahir Khan looks at how deep the Liberal government's cuts to the public service could go.