Trump’s economic attack must be met in kind
By Chrystia Freeland
It seems the United States has forgotten what it means to be a good neighbour.
For more than 150 years, the friendship between Canada and the United States has been a model of international cooperation. While other countries have built fences, we have built bridges. We have traded together, innovated together, and defended democracy together. Through war and peace, economic booms and downturns, we have looked out for each other—because that’s what good neighbours do.
But today, the United States is undermining that special relationship. It is seeking to rewrite the rules of our relationship and is even threatening to use economic coercion to do so. By threatening Canadians’ livelihoods with an unjustified and illegal trade war and even musing about making Canada the “cherished” 51st state, the United States is turning its back on the very principles that made our relationship so valuable in the first place.
Like so many Canadians, I have felt immense pride in recent weeks as our country has come together to stand firmly against these attacks. We’re not for sale, and our sovereignty is not up for negotiation.
I was there in 2018, the last time the United States chose conflict over cooperation and slapped tariffs on Canadian steel and aluminum. I didn’t hesitate then to push back with targeted, dollar-for-dollar retaliation, and we won. We can win again now, but only if we are strong, smart, and united.
Standing up to this economic attack will require fortitude and determination. When the United States hits us, we must hit back. And we must be smart enough to know that tit-for-tat tariffs will hurt the United States, too.
Canada is America’s largest export market—bigger than China, Japan, the U.K., and France combined. We have considerable leverage and can have a real impact on a number of vital American industries, from dairy farmers in Wisconsin, to appliance manufacturers in Michigan, to orange growers in Florida.
External pressure from American businesses and workers on the White House will have a huge impact. Canada should publish a retaliation list immediately, to maximize pressure on the White House. And it should start with 100 per cent tariffs on Teslas.
As we navigate this moment, we must support one another and capitalize on the opportunity to strengthen our country.
We must create new opportunities for growth, make life more affordable, and secure our sovereignty.
By leveraging the federal government’s resources and working in partnership with the provinces, territories, and Indigenous communities, we can reduce our reliance on the United States and open new markets for our exports around the world.
On the campaign trail I hear time and again that Canadians want us to focus on one thing: the economy.
Canadians are looking for us to take concrete steps to make life more affordable. That is why, if I am elected prime minister, I will cut income taxes for more than 11 million middle-class Canadians, eliminate the GST on new homes for first-time buyers, cap credit-card interest rates, and make sure groceries are affordable.
Building on one of the achievements I am most proud of from my time in government—universal, affordable childcare—I will create 100,000 new childcare spaces at $10 a day.
The threat we are facing from the United States is a wake-up call. We can’t afford to be complacent, and hope is not a strategy. Let’s stand together and turn this challenge into an opportunity by investing in our strengths, securing our future, and building a more unified and resilient Canada.
Chrystia Freeland is member of parliament for University-Rosedale.
READ MORE BY CHRYSTIA FREELAND:
- FORUM: A primer on changes to the capital tax (June 2024)
- FORUM: Navigating a strong fiscal recovery (May/June 2023)
- FORUM: A fall economic statement from the Minister of Finance (Dec. 2022)
- FORUM: A budget for a booming economy (May 2022)
- FORUM: Defending the free press to preserve democracy (Sept. 2019)
- FORUM: Inclusive prosperity (SEPTEMBER 2016)
- FORUM: Getting down to work (December 2015)
- FORUM: Ensure capitalist democracy delivers for everyone (SEPTEMBER 2015)