Hub Podcasts Canada is on the verge of a new era for internal trade
May 29, 2025
Theo Argitis, a Hub contributor focusing on retirement economics, and Trevor Tombe, an economics professor at the University of Calgary, dive into Canada’s internal trade landscape. They discuss the necessity for provinces to collaborate to enhance trade agreements. Argitis raises concerns about Canadians’ retirement security tied to the U.S. economy, while Tombe outlines the potential economic benefits of provincial trade agreements. Together, they navigate the implications of Canada’s growing dependence on the U.S. and the urgent need for strategic investment reassessments.
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Provinces Drive Trade Reform
- Provinces hold the key to removing internal trade barriers in Canada, not the federal government.
- Their differing rules hinder business growth and productivity across provincial borders.
Mutual Recognition Boosts Economy
- Mutual recognition means if a business complies with one province's rules, it complies with another's.
- This flexibly reduces trade costs and could significantly boost GDP, prices, and wages nationally.
Trade Spillovers Benefit All Provinces
- Benefits from bilateral provincial trade deals spread nationally, not just locally.
- Even provinces not changing their regulations gain economically from others liberalizing trade.