Canadian business wary of growing protectionism in U.S. as midterm elections loom

expansion, which was to provide increased access for Canadian oil to the Gulf of Mexico.

The price on carbon also remains a major issue. While Canada’s carbon tax is set to rise to $170 per tonne by 2030, the U.S. does not have a tax. Durbin said there is little political appetite from either party to push ahead with a carbon tax, especially in the face of spiking inflation. “I think a border carbon adjustment would be terrible,” she said. “It’s a tax, it’s a tariff on trade. And when you introduce a tariff, it automatically creates disruptions at the border.”Lilly said signs of protectionism really showed during the pandemic when the U.S. prioritized face masks and other personal protection equipment made in the U.S. to stay in the U.S. Canada responded with 3M opening up plants in Ontario to produce masks here.

“International trade and globalization keep prices low for Canadians, and so we are, on the whole, net beneficiaries of globalization,” she said. “I think that it requires some long-term thinking about what are the essential sectors, how are we going to support them in the moment and are we willing to pay more?”

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global Business Forum talks opportunity in a changing global orderNow is a time of opportunity for Canada and the West in the face of international upheaval, the Global Business Forum heard Thursday.
Source: calgarysun - 🏆 63. / 52 Read more »

Global Business Forum talks opportunity in a changing global orderNow is a time of opportunity for Canada and the West in the face of international upheaval, the Global Business Forum heard Thursday.
Source: calgaryherald - 🏆 64. / 52 Read more »

Global Business Forum returns with eye to the futureThis year there will be 10 MBA students from across Canada who will be taking part in the two\u002Dday conference at Fairmont Banff Springs.
Source: calgaryherald - 🏆 64. / 52 Read more »

U.S. business activity contracted for third straight month in September: S&P Global surveyDiscounting the slump during the first wave of the COVID-19 pandemic in the spring of 2020, business output in the third quarter was the weakest since the 2007-2009 global financial crisis
Source: globeandmail - 🏆 5. / 92 Read more »

Canadian business wary of growing protectionism in U.S. as mid-term elections loomAttending the Global Business Forum, Perrin Beatty the shift from an open and free market to protectionism goes back several years
Source: calgarysun - 🏆 63. / 52 Read more »

Canadian business wary of growing protectionism in U.S. as midterm elections loomAttending the Global Business Forum, Perrin Beatty the shift from an open and free market to protectionism goes back several years
Source: calgaryherald - 🏆 64. / 52 Read more »