First Ministers Agree to Develop National Trade Strategy Amid Growing Global Economic Pressures
Prime Minister Mark Carney has announced an ambitious new goal to establish free interprovincial and interterritorial trade by Canada Day, following a high-stakes First Ministers’ Meeting at the Canadian War Museum in Ottawa.
The Prime Minister, alongside Canada’s provincial and territorial leaders, committed to removing longstanding internal trade barriers related to transportation, energy, critical minerals, and digital infrastructure – a move expected to boost Canada’s economy by $250 billion and create opportunities for workers and businesses across the country.
“We intend from a federal level to have free trade by Canada Day,” said Prime Minister Carney. “We are committing to removing all federal exemptions under the Canada Free Trade Agreement and turning what has been a concept into a reality.”
In addition to the trade agreement, the federal government unveiled several new national measures to stimulate economic growth, including:
- Temporarily waiving the one-week waiting period for Employment Insurance
- Deferring corporate tax and HST/GST payments for businesses
- Launching the Large Enterprise Economic and National Security Facility
- Implementing a “One Project, One Review” system to fast-track major infrastructure approvals
- Doubling the Indigenous Loan Guarantee Program to $10 billion
- Removing mobility restrictions for federally regulated professions
- Increasing support for regional development agencies
Prime Minister Carney also reaffirmed his commitment to carbon emissions caps and investments in carbon capture and storage, describing them as key to building a new clean-energy economy.
The announcement follows escalating trade tensions with the United States. President Donald Trump’s administration recently imposed a 25% tariff on Canadian steel and aluminum, prompting Canada to double retaliatory tariffs. Trump has also controversially suggested that Canada should become the 51st U.S. state.
Ontario Premier Doug Ford expressed strong support for the removal of trade barriers, while keeping options open regarding economic retaliation:
“All options remain on the table, including potential energy taxes on the U.S.,” Ford said.
Most premiers expressed support for Carney’s strategy. Quebec Premier François Legault called for a global renegotiation of the Canada-U.S.-Mexico trade agreement, while New Brunswick Premier Susan Holt praised Carney’s leadership, calling him a passionate and intelligent representative of Canada during turbulent times.
Northern premiers, including Yukon’s Ranj Pillai and Nunavut’s P.J. Akeeagok, welcomed the government’s renewed focus on Arctic development, highlighting the importance of infrastructure and trade in the North.
Sources confirm Prime Minister Carney will request the dissolution of Parliament this Sunday, triggering a federal election. Despite growing rhetoric from U.S. leadership, Carney emphasized that Canada’s future lies in unity, resilience, and bold national action.
“No foreign leader is going to determine who’s best for Canada. Canadians will decide their future,” he said.