Act now and show some leadership.
That’s what the Canadian Federation of Independant Business is calling on both the provincial and federal governments to do at a time when the country’s economy is on the line.
CFIB Senior Policy Analyst Seo Rhin Yoo says as 25 per cent tariffs on Canadian imports into the United States are set to come into play on Tuesday, there are some things that governments could do to lessen the impact.
“We are urging all governments to remove internal trade barriers that restrict the movement of goods, services, and labour across the country, so that it can help soften the blow if the tariffs do come.”
Yoo says the CFIB has been advocating for the removal of red tape long before President Donald Trump first threatened these tariffs in December, including the adoption of a mutual recognition agreement. This would promote the nation-wide acceptance of assessment procedures on goods traveling between provinces.
“All the goods and services, they are vetted and inspected in every province and territory. So, if it’s good enough for an Albertan, it should be good enough for someone in Saskatchewan, as well.”
Despite the detrimental effect that the tariffs would have on Canada’s economy, Yoo says some good has come from the situation, as it has prompted many Canadians to start shopping entirely local.
“According to CFIB research, for every dollar you spend at a local shop, 66 cents stays within the local economy, versus when you shop at a multinational, only 11 cents stay.”