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Economic experts tell summit that greater urgency on trade issues needed
Experts said existing tariffs are hurting businesses and urged Ottawa to secure a U.S. deal while trade diversification remains limited.
- Economic experts and cabinet ministers, including Finance Minister François-Philippe Champagne and Industry Minister Joly, emphasized urgent trade certainty needs at a Public Policy Forum conference on Thursday.
- Louise Blais, Quebec's representative for the Canada-United States-Mexico Agreement, warned that existing tariffs are killing businesses, while CIBC chief economist Avery Shenfeld urged avoiding slow-walked negotiations.
- Companies like South Shore Furniture faced bankruptcy despite investing in automation, as diversification to China and India offers smaller gains than a primary U.S. trade deal.
- Canada must remain focused on "plan A," securing a primary deal, because the country risks the administration unilaterally imposing new trade irritants like fentanyl restrictions.
- Steve Verheul, a former chief trade negotiator for Canada, stated positions between nations remain too far apart to resolve the upcoming CUSMA review meaningfully.
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The urgent need to ensure trade security and diversification was one of the key messages put forward by economic experts at a conference of the Public Policy Forum on Thursday.
·Montreal, Canada
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Greater Urgency On Trade Issues Needed: Economic Experts
Urgency on trade certainty and diversification was a key message economic experts emphasized at a Public Policy Forum conference on May 7. Speaking at the Canada Growth Summit, CIBC chief economist Avery Shenfeld said the government is doing the right things, but that it’s important not to slow-walk the process given the risks. He said efforts to diversify trade and ease restrictions on exports to places like China and India is important, but th…
Coverage Details
Total News Sources10
Leaning Left5Leaning Right1Center1Last UpdatedBias Distribution72% Left
Bias Distribution
- 72% of the sources lean Left
72% Left
L 72%
14%
14%
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