Regina, Saskatchewan – January 29, 2025 – Today, Maninder Sidhu, Member of Parliament for Brampton East, met with Saskatchewan Premier Scott Moe, business leaders, and key stakeholders at the Western Canada Economic Forum in Regina. The discussions centered on the critical importance of Canada-U.S. trade relations and the potential implications of proposed U.S. tariffs.
The forum provided a platform to address the recent announcement by U.S. President Donald Trump, who has pledged to impose a 25% tariff on Canadian imports starting February 1, 2025. This development has raised significant concerns, given that millions of jobs on both sides of the border rely on robust Canada-U.S. trade. An unjustified tariff could negatively impact both Canadian and American workers, disrupting supply chains and economic stability.
In response to these challenges, the Government of Canada is actively preparing for all potential scenarios with the U.S. administration. This includes exploring retaliatory measures and providing support to affected industries. Additionally, Canada is making generational investments to protect its borders and address concerns related to illegal immigration and drug trafficking, which have been cited by the U.S. as reasons for the proposed tariffs.
The Bank of Canada has also taken steps to mitigate potential economic shocks from the trade conflict. On January 29, 2025, the central bank cut its benchmark rate by a quarter-point to 3%, marking the sixth consecutive rate reduction. Governor Tiff Macklem warned of significant economic challenges, noting that approximately 75% of Canadian exports are U.S.-bound, highlighting the country’s vulnerability to such trade disputes.
Maninder Sidhu emphasized the importance of collaboration and open dialogue during these times. “Engaging with provincial leaders and stakeholders is crucial as we navigate these challenges. Our focus remains on protecting Canadian interests and ensuring the prosperity of our workers and businesses,” said Sidhu.
The Government of Canada remains committed to defending its economic interests and is prepared to implement measures that safeguard the nation’s prosperity. Ongoing discussions with U.S. counterparts aim to find a resolution that benefits both nations and maintains the longstanding partnership that has been mutually advantageous for decades.