Canada Must Build Resilient Economy Amid Ongoing Trade War

Canada is facing significant challenges due to the ongoing trade war with the US. The imposition of tariffs on Canadian goods has created uncertainty for companies, making it difficult for them to plan and operate in an environment where rules can change quickly.

Council of Canadian Innovators' Director of Federal Affairs Daniel Perry notes that 'uncertainty itself has become a tariff.' This means that companies cannot simply factor in a known tax or tariff into their pricing model; instead, they must also account for the possibility that a product, sector, or technology could become the subject of the next executive order or investigation.

Perry argues that Canada needs to think beyond the current dispute and develop an economy that can withstand these types of shocks. This requires building more globally competitive firms with strong intellectual property, strategic decision-making, and high-value jobs anchored in Canada.