In Part 2 of this candid global conversation, Karl Tabbakh returns to The Business of Doing Business to pull back the curtain on the economic uncertainty that’s gripping both Canada and the U.S.—and what business leaders need to do about it.

Dwayne and Karl dissect the real cost of tariffs, the psychological divide between the “haves” and “have nots,” and what a future recession could mean for Canadian competitiveness. They challenge leaders to rethink productivity, wealth distribution, and their own growth mindset in a time of instability.

From political coalitions to personal responsibility, Karl doesn’t hold back. If you’re in business today, this episode is your compass in the chaos.

Timestamps
00:00 - Introduction
01:18 - Political Decisions Impacting Economy
10:48 - Importance of Wealth Creation
15:56 - Funding Economic Development
19:56 - US Economic Goals
23:18 - Understanding Tariffs
28:16 - The Nowhere vs. Somewheres
34:04 - Societal Threats
41:00 - Key Economic Indicators
46:00 - Solutions for Economic Issues
53:25 - Identifying Opportunities
58:25 - Navigating Uncertainty
1:05:40 - Economic Recession Overview
1:08:20 - Final Thoughts on Economics
1:10:54 - Dwayne's Insights
1:13:29 - Outro

About Karl
Karl Tabbakh is a lawyer, a business leader and a strategic advisor with over 20 years of international business experience. Karl’s expertise is sought after to advise corporations, directors and business executives on a range of strategic issues and transactions both domestically and globally. He is a partner at McCarthy Tétrault LLP with a focus on M&A and private equity and serves on the firm’s Senior Leadership Team as National Leader, Markets and International Business. He was appointed by the Government of Canada as Chairman of Invest in Canada, Canada’s agency responsible for promoting, attracting and facilitating global foreign direct investments into Canada. He previously served as Chair of the Canadian Chamber of Commerce and was on the Board of directors of the Canada Arab Business Council. Karl is a regular speaker on matters of governance, global investment and mergers and acquisitions. In addition to his career in Canada, Karl spent eight years in the Middle East and four years in London, UK, where he developed a solid international network and gained an understanding of international business and investments. An active community leader, Karl supports and leverages his network to benefit many non-profit and local community service organizations, including as member of the Centraide/United Way campaign. Born in Syria, Karl immigrated with his parents to Canada at age 10. He holds an LLB from Osgoode Hall Law School in Toronto, a BCL from the Université de Montréal and a B.Comm from Université Laval in Québec City. Karl is fluent in French, English, and Arabic.

Notable Quotes
“Imposing a tariff isn’t tax revenue. It’s a tax on your people. And I don’t think Canadians can bear more taxation.” — Karl Tabbakh

“Business leaders now need a new set of skills they didn’t think they’d need. Understanding geopolitics is no longer optional.” — Karl Tabbakh

“We’re not in the good old days—but we are in the best time in history. The challenge is seeing it through the noise.” — Karl Tabbakh

“Growth lives in uncertainty. As business leaders, we need to stop looking for safety and start preparing for opportunity.” — Dwayne Kerrigan

“You can’t catch a falling knife. But you can be ready for when it hits the floor.” — Karl Tabbakh

Connect with Dwayne Kerrigan

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Website: www.dwaynekerrigan.com

Disclaimer The views, information, or opinions expressed by guests during The Business of Doing Business are solely those of the individuals involved and do not necessarily represent those of Dwayne Kerrigan and his affiliates. Dwayne Kerrigan or The Business of Doing Business is not responsible for and does not verify the accuracy of any of the information contained in the podcast series. The primary purpose of this podcast is to educate and inform. Listeners are advised to consult with a qualified professional or specialist before making any decisions based on the content of this podcast.