👷♀️ Manufacturers Call for Increased Cooperation Between Canada-US-Mexico to Drive North American Prosperity
Tuesday, 10 January 2023 08:00.AM
Canadian Manufacturers & Exporters (CME) is calling on Prime Minister Justin Trudeau to push for more cooperation and coordination between governments and businesses in Canada, the United States, and Mexico at this week's trilateral North American Leaders' Summit (NALS). The threat to Canada's ability to successfully compete is at risk with increasing government protectionism and manufacturing incentives, part of the US Inflation Reduction Act, that hurt CUSMA partners. This is a top concern for Canadian manufacturers.
"Manufacturers have been clear. There are more and more roadblocks to doing business in North America" says Dennis Darby, President and CEO of CME. "On top of that, continuing competition from jurisdictions like China only reinforce our need to work together. The North American Leaders Summit is the perfect opportunity for our three countries to reaffirm our commitment to North American free trade and to start using the tools at our disposal to develop our critical mineral supply chains, enhance environmental sustainability, and create prosperity for all," said Dennis Darby.
Chair of CME's Board of Directors, Elise Maheu of 3M Canada, is representing the association in Mexico City, and will be meeting with business leaders and officials to reinforce CME's stance.
Manufacturers advocated for the inclusion of mechanisms that promote competitiveness and cooperation in CUSMA/USMCA during the recent NAFTA renegotiations. The competitiveness chapter was created as a direct result of this work and gives North American industry the ability to enhance the strength of our three economies to better compete globally.
These tools, built directly into our trade agreement, will support more near-shoring and friend-shoring efforts to repatriate North American manufacturing jobs.
CME is also urging the government to use the Leaders' Summit to address broader issues with protectionist policies that hurt North American integration. Policies like Buy-America(an), or government investment incentives that exclude North American partners, hurt integrated manufacturing in Canada, the United States, and in Mexico.
"The economic benefits of NAFTA and integrated North American manufacturing are clear and have been for decades. We must resist the urge to close ourselves off from one another. Let's take this opportunity to rededicate ourselves to North American free trade and to all the prosperity that it generates," concluded Darby.
• The manufacturing sector accounts for nearly 10 per cent of Canada's real gross domestic product.
• Manufacturers employ 1.7 million people in Canada.
• Total manufacturing sales hit a record high of $718.4 billion in 2021.
SOURCE: Canadian Manufacturers & Exporters
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