Thank you, Chair.
Welcome, Ambassador, to committee.
The Business Council of Canada's survey of CEOs found that “Trade uncertainty, rising protectionism, and geopolitical flashpoints are making it harder for companies to plan, invest, and grow,” and that 38% now cite uncertainty surrounding NAFTA/USMCA as “the leading factor affecting investment planning”.
Also, Statistics Canada showed that business investment pulled back as businesses navigated uncertainty and trade tensions over the past year. The Canadian Chamber of Commerce said, “Trade-exposed firms are shifting into 'wait-and-see' mode. Most firms, especially smaller ones, have not taken meaningful action beyond price adjustments...investment decisions may still be delayed until policy clarity improves.”
Uncertainty, Mr. Ambassador, is hurting the Canadian economy. Maybe you can offer some clarification.