Every profit-maximizing business will try to maximize its profit. That's how market economies work. When I referred to more competition, I meant in the Canadian marketplace. If we reduce trade barriers in Canada, whether that's with the Europeans or anyone else, there's going to be heightened competition in our domestic marketplace, which will tend to reduce costs and actually reduce profits in industries that might be earning unusual profits today. That's how open trade works.
On February 3rd, 2014. See this statement in context.