Ford urges president-elect Trump to 'bet big' on Ontario-U.S. trade
CBC News | Posted: November 6, 2024 3:27 PM | Last Updated: November 6
Donald Trump has threatened to impose 10% tariff on all goods imported to U.S.
Premier Doug Ford congratulated U.S. president-elect Donald Trump in a statement Wednesday that also pitched continued economic co-operation between Ontario and its southerly neighbour.
"Ontario and the United States share one of the most important and enduring friendships in the world, built on strong economic ties, shared values, national security interests and integrated supply chains," Ford said.
"Millions of workers on both sides of the border are counting on our governments to maintain and build our economic partnership, pursuing shared opportunities in manufacturing, energy and critical mineral development," he said.
Trump, 78, will become the 47th president of the U.S. after beating Democratic candidate Kamala Harris in Tuesday's election, completing an unlikely political comeback after losing the White House in 2020.
Trump's second term in office could have profound consequences for Canada, particularly when it comes to trade.
The former president, real estate developer and game show host campaigned on a minimum 10 per cent global tariff on all imported products to the U.S. Sources previously told CBC News that Trump's camp has offered no assurances of a reprieve for Canada.
Some experts have projected such a policy could see a five per cent loss in Canada's GDP.
The impact could be especially felt in Ontario, which, if it were a country, would be the U.S.'s third-largest trading partner. Two-way trade between Ontario and the U.S. totalled $493 billion in 2023, according to the province. Ontario was the top source of imports in the world for 17 states, sending $52.9 billion in goods to neighbouring Michigan alone.
In recent appearances and in his Wednesday statement, Ford called for a "Buy Can-Am" approach to protect jobs on both sides of the border.
"I am optimistic about the opportunities that lie ahead for more trade and co-operation between Ontario and the United States," Ford said.
"Now is the time to bet big on the U.S.-Ontario relationship."
The province will start a marketing push in January to remind the new administration of the importance of bilateral trade, said Vic Fedeli, Ontario's minister of economic development, earlier this week.
Fedeli also said the province could lobby the federal government to retaliate in kind should the second Trump administration impose heavy tariffs on certain goods.
"We'll be looking at the results state by state, jurisdiction by jurisdiction. There are certain places we buy very specific products from and if they're going to put tariffs, we're going to need a list of, sadly, retaliatory tariffs," he said, adding that that has been an effective strategy in the past.