The Surrey & White Rock Board of Trade (SWRBOT) supports Canada standing firm in trade negotiations with the United States rather than accepting an agreement that does not protect Canadian businesses, workers and resources.
We are disappointed that the U.S. negotiating team was unable to reach an agreement with Canada that respects our longstanding economic partnership and the principles of fair, rules-based trade. A deal at any cost is not a good deal.
Joslyn Young, CEO
The United States remains Canada’s most important trading partner, and a strong, stable Canada-United States-Mexico Agreement (CUSMA) remains in the interests of all three countries. Canada should remain open to future negotiations, but recent U.S. trade actions reinforce the need for a broader long-term economic strategy.
“We are hopeful the United States will return to the table with a different perspective, but we cannot build Canadian economic policy on that possibility,” Young said. “Regardless of what happens next, Canadian businesses should continue diversifying their supply chains and customer base.”
Canada already has a strong foundation from which to do that. Its 15 active free trade agreements provide preferential access to 51 countries and approximately 1.5 billion consumers. Canadian businesses need to make greater use of those relationships while Canada continues building new ones.
“I am in Taiwan today with exactly this objective in mind – strengthening relationships and exploring new opportunities for Canadian businesses in the Indo-Pacific,” Young said. “In the new year, the Surrey & White Rock Board of Trade will lead a business mission to India for the same reason. Diversification needs to move from strategy to action.”
Canada must also strengthen its economy at home.
Federal, provincial and territorial governments have made important progress to reduce internal trade barriers, improve labour mobility and streamline regulations. Those efforts should be recognized, but the work needs to go further and faster.
Canada cannot ask businesses to become less dependent on the U.S. while maintaining unnecessary barriers to doing business across provincial borders.
Governments at every level must focus on creating the conditions for private-sector growth: removing barriers within Canada, building the infrastructure businesses need, reducing unnecessary regulatory costs and making Canada more competitive for investment.
“We need to make Canada one of the easiest and most competitive places in the world to build and grow a business,” Young said. “That means making it easier for Canadian companies to invest, hire, expand and sell to customers across the country.”
Businesses also have a role to play. They should continue building resilience, diversifying supply chains, and developing both new and domestic markets.
“Canada’s relationship with the United States will remain critically important, but resilience requires options,” Young said. “This is not about turning away from the U.S. It is about ensuring Canada is strong enough that no single country can determine our economic future.”
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Heather Booth
heather@swrbot.com | 604.634.0341
