Canada Signals Trade Deal Flexibility Ahead of Deadline
Prime Minister Rejects “Bad Deal” as Premiers Urge Prudence
OTTAWA – The pursuit of a new North American trade agreement faces significant uncertainty as the August 1 deadline looms, with Prime Minister **Mark Carney** asserting that Canada will not compromise on terms unfavorable to the nation.
“We Will Not Accept a Bad Deal”
Speaking from Huntsville, Ontario, **Carney** stated his government’s unwavering stance: “The Government of Canada will not accept a bad deal. Our objective is not to reach a deal whatever it costs. We are pursuing a deal that will be in the best interest of Canadians.”
He characterized the ongoing negotiations with the Trump administration as complex, indicating that the government would “take stock” if a mutually beneficial agreement cannot be reached.
Prime Minister Mark Carney says work is still being done on a U.S. trade deal, emphasizing that Canada needs a deal that is in the best interest of its citizens.
— CBC News (@CBCNews) August 1, 2024
Premiers Echo Caution on Deadline
Carney‘s comments came after a briefing to provincial and territorial leaders gathered for their annual meeting, hosted by Ontario Premier **Doug Ford**. Several premiers echoed the sentiment of prioritizing a beneficial agreement over a swift one. Nova Scotia Premier **Tim Houston** affirmed his focus on securing the best outcome, stating he has “tremendous confidence in the prime minister and the team that is representing us as Canadians.”
Quebec Premier **François Legault** expressed skepticism, noting the difficulty in predicting U.S. President **Donald Trump**’s demands, and quipped, “You almost need to ask Donald Trump and I’m not even sure that he knows himself what he wants.”
New Brunswick Premier **Susan Holt** added her support for a quality agreement, not a rushed one, asserting, “We want a good deal, not a fast deal.”
Canada’s Economic Strategy Amidst Trade Tensions
The Prime Minister outlined Canada’s two-pronged economic response to U.S. tariffs, which includes supporting affected sectors like steel and auto manufacturing, alongside efforts to stimulate domestic growth by reducing internal trade barriers. The recent passage of Bill C-5, dubbed the “One Canadian Economy Act,” is expected to streamline the approval process for major infrastructure projects, with a new federal projects office slated to open by Labour Day.
Energy Security Takes Center Stage
In a significant move towards bolstering domestic energy independence, Premiers **Doug Ford**, **Scott Moe** of Saskatchewan, and **Danielle Smith** of Alberta signed a memorandum of understanding to develop new energy and trade infrastructure. The premiers discussed the critical need for Canada to secure its own energy resources, particularly in light of global supply chain volatility. Premier **Ford** emphasized the urgency, stating, “We can’t rely on the Americans anymore. Simple as that.”
Saskatchewan Premier **Scott Moe** drew parallels to Europe’s reliance on Russian energy, highlighting the importance of Canadian oil and gas for national economic and energy security. Alberta Premier **Danielle Smith** commented that building pipelines entirely within Canada is “probably something that is long overdue. We probably should have done it decades ago.”
This collaborative effort aims to create a more resilient energy network, ensuring supply for Canadians across the country.
https://youtube.com/watch?v=b13h-4z1d0I%3Fenablejsapi%3D1%26origin%3Dhttps%253A%252F%252Fwww.cbc.ca%22+title%3D%22N.S.+premier+says+he%E2%80%99s+not+%27focused+on+the+date%27+of+U.S.+trade+deadline%22+loading%3D%22lazy%22+allowfullscreen%3D%22%22+data-origwidth%3D%22560%22+data-origheight%3D%22315%22+width%3D%22560%22+height%3D%22315
The current trade framework between Canada and the U.S. generated $848 billion in trade in 2023, underscoring the economic stakes involved in reaching a new agreement.U.S. Trade Representative As negotiations continue, the focus remains on securing terms that protect and advance Canadian interests.
