Thank you, Madam Chair.
Good morning, honourable members.
Thank you to the witnesses for their very insightful remarks.
It is clear that globalization as we knew it is no more. Protectionism is, without question, back in style. Sometimes, protectionism takes an irrational form. The U.S. president might wake up on the wrong side of the bed, and it could spark a trade war. Other times, protectionism is more organized, as we've seen with certain investments in specific sectors.
A useful indicator is the percentage of GDP invested in industrial policies. Some countries are already investing in certain key sectors of the economy. In the years ahead, those countries will have the edge.
In this climate, we can respond in one of two basic ways. We can either negotiate amendments to the act to bring Canada into the U.S.'s protectionist fold. We could, for instance, seek to have green products excluded from the act, as was the case with the Build Back Better Act.
The other option, which a number of witnesses have raised, is to not get left behind and introduce policies in Canada and Quebec—as long as Quebec is still part of Canada—that will help key sectors of the economy, critical sectors, stay competitive.
Ms. Dufour, in the U.S., in China and, to a lesser but still considerable extent, in a number of European countries, billions of dollars are being injected into the economy.
How can Canada stay competitive in that context?