CCI Statement on Canada’s Ongoing Trade Relationship With the U.S.

Today, Prime Minister Carney acknowledged that the self-imposed deadline for trade negotiations with the United States has lapsed, and U.S. President Donald Trump is moving ahead with new tariffs on non-USMCA exports – a clear sign that a deal in Canada’s best interest remains out of reach. CCI President Benjamin Bergen issued the following statement on behalf of our members:

"One of the key factors in Canada’s economic under-performance in the 21st century has been trade deals that have tied the government’s hands on economic policy — especially in the digital realm. Trade negotiations are a key venue for creating the policy frameworks that govern the digital economy, and Canadian negotiators must be aware of this reality.

"It is increasingly clear that the failure to reach a deal is not for lack of trying on the part of Canadian negotiators, but instead the roadblock is an unreliable partner who wants to strongarm Canada into a bad deal.

"At CCI, we have always said the first priority of the Canadian government should be to focus on building up homegrown Canadian businesses, and pursuing a strategy built on economic sovereignty and resilience. We shouldn’t give up on trade negotiations with the United States; they are our largest trading partner. But we shouldn’t give away our sovereignty for market access either.

"Canada’s economy suffers from poor terms of trade because we sell low-margin, raw products and not enough high-margin, value-added products and services. Any serious trade strategy that meets the volatile global economic landscape needs to start by looking at our terms of trade. It’s not enough to ensure market access, and diversify our trading relationships. We need to diversify the products we sell, and ensure that Canada is selling the value added goods that the world wants."

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Media Contact

James McLeod
jmcleod@canadianinnovators.org