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Canada Plans New Panel to Evaluate US Trade Ahead of USMCA Review
(MENAFN) The Canadian government plans to establish a new advisory council to evaluate trade relations with the United States ahead of an upcoming formal review of the US-Mexico-Canada Agreement (USMCA), according to a report released Monday.
As reported, Michael Sabia, clerk of Canada’s Privy Council, and Janice Charette, who serves as Prime Minister Mark Carney’s chief trade negotiator for the United States, will lead the new panel.
The initiative follows recent remarks by Prime Minister Mark Carney, who said Canada’s long-standing close relationship with the US has increasingly become a vulnerability that must be addressed.
He said that “the US has fundamentally changed its approach to trade, raising its tariffs to levels last seen during the Great Depression.”
Carney added that “many of our former strengths, based on our close ties to America, have become our weaknesses, weaknesses that we must correct.”
He also rejected the idea that US trade policy would return to previous conditions, stating that “hope isn’t a plan, and nostalgia is not a strategy,” and warning against relying on expectations of a reversal in Washington’s approach.
Carney outlined a broader economic and national security strategy aimed at reducing Canada’s dependence on its southern neighbor, signaling a shift toward greater economic diversification and resilience ahead of the USMCA review process.
As reported, Michael Sabia, clerk of Canada’s Privy Council, and Janice Charette, who serves as Prime Minister Mark Carney’s chief trade negotiator for the United States, will lead the new panel.
The initiative follows recent remarks by Prime Minister Mark Carney, who said Canada’s long-standing close relationship with the US has increasingly become a vulnerability that must be addressed.
He said that “the US has fundamentally changed its approach to trade, raising its tariffs to levels last seen during the Great Depression.”
Carney added that “many of our former strengths, based on our close ties to America, have become our weaknesses, weaknesses that we must correct.”
He also rejected the idea that US trade policy would return to previous conditions, stating that “hope isn’t a plan, and nostalgia is not a strategy,” and warning against relying on expectations of a reversal in Washington’s approach.
Carney outlined a broader economic and national security strategy aimed at reducing Canada’s dependence on its southern neighbor, signaling a shift toward greater economic diversification and resilience ahead of the USMCA review process.
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