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Dear friends,
If Canada ever needed a wake-up call, we got one on Monday from U.S. President-elect Donald Trump. He announced his intention to impose a 25 per cent tariff on all goods coming from Canada once he takes office in January.
We have a choice. We can wring our hands and fret about the impact this could have on our economy … or we can take action and address our challenges in a proactive way.
There is no friend, partner and ally more important to Canada than the United States. We have a lot to offer our neighbour, but we can’t take the relationship for granted. We need to demonstrate that we are a reliable partner.
It starts with keeping our word.
Earlier this week the Business Council launched a new report that urges Canada to develop and implement a defence industrial base strategy. Such a strategy would not only better protect Canada in an increasingly volatile world, it would bolster our economy with well-paying jobs that drive prosperity and, significantly, it would show our allies that we keep our promises.
There is now a chorus of American lawmakers – Republicans and Democrats alike – who are calling on Canada to move faster to live up to its longstanding NATO commitment of spending two per cent of GDP on defence.
Now is the time for action.
In addition to getting serious about our national security, Canada’s public and private sectors must work together to improve our country’s prosperity. There is so much within our control, including eliminating interprovincial trade barriers, modernizing our infrastructure, championing Canadian success and harnessing Canada’s unique strengths.
Earlier this month we launched the Can-Do / C’est possible campaign. You can learn more about it in this newsletter. I encourage you to join with us to help get Canada’s economy back on track.
Together, we can do great things.
Yours truly,
Goldy Hyder
President and CEO
Business Council of Canada