Two Surveys Raise Concerns Over Canada’s Trade and Jobs

Two recent surveys on Canada’s trade outlook have raised concerns about the impact on small businesses and employment.

A survey released Wednesday by the Canadian Federation of Independent Business (CFIB) says small Canadian exporters could face a revenue loss of at least 50 per cent if a new 50-per-cent tariff is imposed.

Meanwhile, a separate survey conducted by Oxford Economics for the Canadian American Business Council has warned about the potential impact of the CUSMA trade agreement. According to the report, if CUSMA comes to an end, around 102,000 jobs in Canada could be at risk. The report estimates that approximately 2.5 million Canadian jobs are currently tied to the trade agreement.

At the same time, the federal government is working to expand trade with countries beyond the United States. Efforts to finalize a trade deal with India are also moving ahead quickly. According to reports, Indian Prime Minister Narendra Modi could visit Canada around December 14-15, coinciding with the G20 leaders’ meeting in Miami.

Expanding access to the Indian market is an important part of Prime Minister Mark Carney’s goal of doubling Canada’s exports to non-U.S. countries by 2035.