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Prime Minister Mark Carney said Monday that trade policy under current US administration is “radically different” from what Canada has experienced. He spoke to reporters in New Brunswick about rising U.S. restrictions on Canadian forestry products.
“They’ve changed the rules, or their interpretation of the rules,” Carney said. “We need to respond quickly.”
Carney stressed that Canada faces both challenges and opportunities. “We can buy Canadian and build more domestically, diversify internationally, and expand forest product outputs,” he said.
Buy Canadian strategy gains momentum
A central element of the response is the Buy Canadian strategy. Carney explained that knocking down internal trade barriers helps businesses compete. “Businesses are putting Maple Leaf stickers on grocery aisles,” he added, signaling increased public support for local sourcing.
This approach aligns with the broader goal of strengthening domestic industry while maintaining dialogue with the U.S. Carney said Canada will pursue negotiations to secure better terms for its forestry sector.
Major infrastructure projects support domestic growth
In parallel, Carney announced that the federal government will release the next tranche of major infrastructure projects for review by the Major Projects Office on Thursday.
Earlier, he launched the first five projects, which drew Conservative criticism for being “low-hanging fruit,” as many were already underway. The office evaluates each project and returns recommendations to the government, which holds final authority.
Establishing the Major Projects Office was one of Carney’s first actions after winning the general election, aiming to streamline infrastructure approvals while boosting economic development.
Balancing domestic production and international trade
Carney emphasized that Canada must act decisively. “We can strengthen local production while negotiating with the Americans. Both tracks are essential,” he said.
By investing in domestic forest production and reducing internal trade obstacles, Canada positions itself to withstand external pressures and increase economic resilience.
For more insights on Canada’s trade and economic strategies, visit PhoenixQ Business and Jobs.
