Ottawa, June 29, 2018
Canadian Manufacturers & Exporters (CME) applauds the Government of Canada for taking decisive action to retaliate against the United States for imposing tariffs of 10% on Canadian aluminum and 25% on Canadian steel and for listening to industry concerns on potential economic impacts.
“CME fully supports the Canadian Government’s legal, justified and necessary decision to respond to illegal and unprovoked US tariffs on Canadian steel and aluminum exports with these retaliatory tariffs,” said Dennis Darby, President & CEO of CME.
Darby noted, that “while we are concerned that the retaliatory measures may include many inputs that manufacturers need for their operations, we are pleased that the government listened to our input and have established strong support mechanisms for affected companies. In particular, the ability for exporters to get duty relief on imported goods, training supports, and the emergency fund for distressed companies are all actions CME called on the government to take.”
“Additional government actions to support affected industry, such as investments to encourage export diversification and adoption of new technologies, are also critical and welcomed by industry, but obviously longer-term solutions,” added Darby. “We are encouraging the government to now take the next step and introduce additional measures to boost business confidence and investment – including reducing the tax and regulatory burden and by providing investment incentives to manufacturers – to help overcome weak business confidence as a result of the tariff measures in both countries.”
“But the best long-term solution is a NAFTA deal that strengthens integrated manufacturing. We are again urging all NAFTA partners to immediately get back to the bargaining table to secure a new NAFTA and end the pointless and costly tariff war,” suggested Darby. “These costly barriers to trade will impact hundreds of thousands of integrated manufacturers and millions of middle-class families and diminish the competitiveness of both American and Canadian industries.”
ABOUT CANADIAN MANUFACTURERS & EXPORTERS
Since 1871, Canadian Manufacturers & Exporters has been helping manufacturers grow at home and, compete around the world. Our focus is to ensure manufacturers are recognized as engines for growth in the economy, with Canada acknowledged as both a global leader and innovator in advanced manufacturing and a global leader in exporting. CME is a member-driven association that directly represents more than 2,500 leading companies who account for an estimated 82 per cent of manufacturing output and 90 per cent of Canada’s exports.
FOR MORE INFORMATION
Director of Communications & Branding
Canadian Manufacturers & Exporters