The Big Story An inside look at how the feds are dealing with the onslaught of American threats
Jan 24, 2025
François-Philippe Champagne, the Minister of Innovation, Science and Industry of Canada, dives into the complex aftermath of the recent U.S. presidential inauguration. He discusses the Canadian government's strategies to tackle potential tariffs and the looming threat of becoming the '51st state.' The conversation explores the critical interdependence of U.S.-Canada trade and the urgency of adapting Canada’s electric vehicle initiatives amid shifting U.S. policies. Additionally, he addresses the ongoing liberal leadership race and its implications for responding to global challenges.
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Be Prepared and Confident
- Canada must prevent tariffs and prepare for them.
- Canadians should be confident and ambitious due to the integrated nature of the Canada-US supply chain.
Impact of Tariffs
- Retaliatory measures will be strategic, focused, and impactful on US consumers.
- Tariffs will have consequences and increase costs for consumers.
Renegotiation Strategy
- Canada is prepared for an early renegotiation of the North American trade pact.
- Approach negotiations with strength, confidence, and ambition.