Finance ministers from across the Canadian federation are meeting in Ottawa today to explore a number of challenges weighing on their economies 鈥� with a particular focus on the intensifying trade dispute with the United States.
The twice-yearly gathering of finance chiefs comes just days before Canada is set to impose retaliatory tariffs on U.S. products. The federal government鈥檚 move, a tit-for-tat response to the Trump administration鈥檚 stinging tariffs on steel and aluminum imports, will take effect Sunday.
The federal, provincial and territorial governments have maintained a common front in dealing with U.S. Donald Trump鈥檚 protectionist policies, which includes the difficult renegotiation of the North American Free Trade Agreement.
Manitoba Finance Minister Cameron Friesen says it鈥檚 important for Canada to stand its ground and to speak with one voice on the tariff dispute.
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But when it comes to retaliatory measures, Friesen is urging the feds to look before they leap to ensure they鈥檙e not unduly exposing Canadian businesses to risks.
Quebec Finance Minister Carlos Leitao says he鈥檚 keen to discuss possible fiscal measures to support businesses affected by the U.S. tariffs and to reassure firms that Canada is a safe and profitable place to invest.
鈥淭he key issue in this possible trade war is investment decisions,鈥� Leitao said before the meeting. 鈥淔irms are delaying or postponing investment decisions.鈥�
The finance ministers will also hear a presentation on the Canada-U.S.. relationship from Ottawa鈥檚 envoy in Washington, David MacNaughton.
The Canadian Press
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