Finance ministers from across the Canadian federation are meeting in Ottawa today to explore a number of challenges weighing on their economies 91Ƶ with a particular focus on the intensifying trade dispute with the United States.
The twice-yearly gathering of finance chiefs comes just days before Canada is set to impose retaliatory tariffs on U.S. products. The federal government91Ƶs move, a tit-for-tat response to the Trump administration91Ƶs stinging tariffs on steel and aluminum imports, will take effect Sunday.
The federal, provincial and territorial governments have maintained a common front in dealing with U.S. Donald Trump91Ƶs protectionist policies, which includes the difficult renegotiation of the North American Free Trade Agreement.
Manitoba Finance Minister Cameron Friesen says it91Ƶs important for Canada to stand its ground and to speak with one voice on the tariff dispute.
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But when it comes to retaliatory measures, Friesen is urging the feds to look before they leap to ensure they91Ƶre not unduly exposing Canadian businesses to risks.
Quebec Finance Minister Carlos Leitao says he91Ƶs keen to discuss possible fiscal measures to support businesses affected by the U.S. tariffs and to reassure firms that Canada is a safe and profitable place to invest.
91ƵThe key issue in this possible trade war is investment decisions,91Ƶ Leitao said before the meeting. 91ƵFirms are delaying or postponing investment decisions.91Ƶ
The finance ministers will also hear a presentation on the Canada-U.S.. relationship from Ottawa91Ƶs envoy in Washington, David MacNaughton.
The Canadian Press
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