Carney Government Touts Legislative Package to Boost Trade and Economic Growth

Canada's trade challenges are not about demand, but rather its capacity to produce and transport resources competitively. The country aims to double non-US trade by 2035 and become the fastest-growing G7 economy.

The Building Canada Strong Act, Bill C-39, is a legislative package that updates labor relations, improves supply chains, and speeds up major project regulatory approvals and permitting. This reform addresses each link in the chain of production, transportation, and trade corridors.

Canadian businesses have long ranked regulatory burden as their number one barrier to investment. The Carney government has introduced measures to simplify federal processes for major projects, reduce timelines, and eliminate duplication. They also plan to advance alternative ownership models of Canadian transportation and logistics assets.

The government's goal is to achieve an outcome that supercharges Canada's economic resiliency and sovereignty. Whether this can be achieved depends on the country's policymaking capacity to stay disciplined and deliver on the bill's expected outcome.