In a release, The Humboldt & District Chamber of Commerce states that it is dedicated to keeping its members informed about the latest economic and trade developments by closely monitoring updates from the Saskatchewan Chamber of Commerce and the Canadian Chamber of Commerce. In doing so, the Chamber aims to provide businesses with timely and relevant information on advocacy efforts at both provincial and national levels.
Central to the Chamber's advocacy efforts is "An Agenda for Economic Growth and Stability," a comprehensive plan put forward by Canada’s provincial chambers of commerce. The release goes on to say that the plan focuses on improving Canada's economic sovereignty, boosting domestic trade, and enhancing global competitiveness. Several key priorities have been outlined to achieve these goals:
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Eliminating Interprovincial Trade Barriers: Efforts to ease the movement of goods and services across provincial borders are seen as essential to supporting businesses in their operations across Canada.
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Developing a National Energy Corridor: A proposed infrastructure plan aimed at improving the transportation of oil, natural gas, electricity, and hydrogen across the country to ensure efficiency and sustainability in Canada's energy sector.
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Enhancing Domestic Procurement and Supply Chains: The goal is to ensure Canadian businesses have greater access to government contracts and benefit from the growth of local manufacturing industries.
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Securing Canada-U.S. Trade Relations: Emphasizing the renewal of the Canada-U.S.-Mexico Agreement (CUSMA), business leaders are calling for an expedited process to provide stability for businesses involved in cross-border trade.
Business leaders, including those in Humboldt, have stressed the importance of strong leadership from Canada’s premiers, urging the Council of the Federation to take immediate action to support businesses and eliminate barriers to economic growth.
Concerns Over U.S. Tariffs
A major concern highlighted by the Canadian Chamber of Commerce is the potential imposition of new U.S. tariffs on Canadian steel and aluminum. Candace Laing, President and CEO of the Canadian Chamber, strongly opposed these tariffs, warning that such measures could have severe economic consequences for both Canada and the U.S.
Laing outlined several critical issues related to the proposed tariffs:
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Economic Volatility: The imposition of tariffs would increase market volatility, affecting both Canadian and U.S. economies.
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Impact on Key Industries: The U.S. relies heavily on Canadian steel and aluminum, and these tariffs could disrupt critical industries, including defense, housing, and automotive.
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Job Losses: Past tariffs have already had negative impacts, leading to tens of thousands of job losses in the U.S. during the first term of President Trump.
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Increased Costs: The tariffs would raise costs for businesses and consumers alike, potentially exacerbating already challenging economic conditions.
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Weakening North America's Industrial Leadership: Laing cautioned that increased tariffs could give China an advantage in the global steel and aluminum markets, undermining North America’s industrial strength.
Call for Action
Laing and other business leaders are calling for a shift away from tariffs and a move toward a stable and fair-trade agreement that benefits all parties involved. They emphasize that continued uncertainty and rising costs will only harm the economies of both Canada and the U.S. in the long run.
The statement concludes that the Humboldt & District Chamber of Commerce remains committed to its role in advocating for policies that promote economic growth, stability, and success for businesses in Humboldt, Saskatchewan, and across Canada. By staying informed and actively participating in trade and economic discussions, the Chamber strives to ensure that its members can navigate the complexities of the modern business landscape.