Mr. Chris Matier (Senior Director, Economic and Fiscal Analysis and Forecasting, Office of the Parliamentary Budget Officer, Library of Parliament) at the Finance Committee

I'll quickly add that, while the Canadian dollar has depreciated, the exchange rates of a lot of countries that Canada competes with in the U.S. market have also fallen and, in some cases, more. Therefore, that competitive edge that you would think Canada's lower dollar would be providing isn't as effective this time.