Madam Speaker, it is a privilege to rise in the House today, as it always is, as we speak in this important debate about the prospect of the tariffs proposed by President-elect Trump. This is an important moment for our country, and it is an important moment for us to reflect on so we respond in a way that is beneficial not just to Canadians but to our shared North American prosperity.
Canada and the United States have a strong and unbreakable relationship that dates back centuries, and when it comes down to this conversation, it is important to start with the facts. We know in Canada that our biggest market is the United States, and the economic prosperity and future of both governments are predicated on the idea that we must work together, because our economies are intrinsically linked and entirely intertwined.
Canada has much to be proud of. We are a world leader from batteries to clean energy and from AI to agriculture. We are a place where investors from around the world want to place bets. They want to be here and be part of the growth happening in Canada. Indeed, Canada is set to be the fastest-growing economy in the G7 in 2025.
There are also concerns we all share about making sure we have a safe and secure border and that our communities are safe and secure. We are all working hard to do that, and we are working with the Americans, as we have always done, to ensure that our border is safe. For our government, standing up to meet domestic and international challenges is not just about partisan politics; it is about working together and having a united approach as Canadians. It worked for us in 2016 and it will work in 2025.
After all, our shared prosperity is built on a set of facts and the facts are clear. In 2023, bilateral trade between our two countries was worth $1.3 trillion, which is about $3.4 billion in trade every single day. For 36 U.S. states, Canada is the number one market. The U.S. is our top merchandising trading partner, with over half a trillion dollars of Canada's merchandise being sent in 2025. The U.S. is the single greatest investor in Canada. In 2022, stock investment was worth over half a trillion dollars, representing half of all investment in Canada.
This is a generational relationship, not one crafted overnight. It was built over successive governments of all political parties, because we have taken an approach that working together is the right way to share and build prosperity.
As we think about those facts, it is important to remember a couple of things. From the opposition we see bluster, paranoia and, as the Prime Minister said earlier, people “freaking out”. That is not what Canadians need. They need to see strong, calm and resolute leadership predicated on the idea that when we craft a good deal, we do not need a winner and loser. If we build together correctly with our American friends, we will build shared prosperity in a win-win situation.
That is the approach our government has always taken. It is the approach we take to everything we do. A rising tide lifts all boats, and that is the approach we intend to take in working with the incoming U.S. administration. It means having meaningful conversations, as the Prime Minister has already done with President-elect Trump. It does not mean gaslighting Canadians and making idle threats, and it certainly does not mean raising panic. It means working hard on the challenges we face and share and building on our common interests. That is how we get over the finish line on these matters, just as we have done in the past.
Whether regarding security, technology or natural resources, our economies are inextricably linked. These tariffs hurt us all. They do not only penalize Canada; they penalize U.S. consumers by making goods more expensive for Americans. Whether it is food, auto parts or energy, all of these things will have an impact on Americans, just as they would on Canadian businesses.
When we look at how to come through this period of opportunity and challenge, it is important for us to remember that the best approach we can have is not to tear Canada down or to approach this from a position of weakness, because we are not in a position of weakness. We are partners with our American friends, as we have been and will be for generations. If we take that approach and take pride in what Canada is, in who we are and in our resources and intellectual capacities, we have the ability to do anything.
Putting Canada first is always going to be our government's priority, but putting Canada first does not mean it has to be at the detriment of our friends and neighbours. In fact, putting Canada first means success not just for Canadians but for our American friends as well. A strong Canadian economy is good for the United States just as a strong U.S. economy is good for Canada, if we do the work together to ensure that our shared priorities are considered and that the concerns each of our countries has are reflected in the decisions we make, and if we are prepared to have difficult conversations with one another. That is what we have always done. Empty slogans get us nowhere. Being negative gets us nowhere. What gets us somewhere is rolling up our sleeves and doing the hard work that is required to get to good deals.
I spent years living in the United States; I studied there. Some of my best friends are Americans, and I have had the privilege to understand, by working in the United States and in Canada, that we have so much in common. We all want to do well for our communities and our families. We want to build national prosperity, but we also want to look out for our friends and neighbours. We want to make sure the people we care about are taken care of, which is an important principle as we enter into conversations and build a team Canada approach.
This is a time for us to put aside differences and to focus on what is important. What is important is to make sure Canadian interests are protected; to understand our shared interests; to understand the areas of opportunity for both countries; and to build, with resolution, into those areas of strength and opportunity. In so doing, we will strengthen our economy, the U.S. economy and, as we look at North America, the Mexican economy. We will build a strong economic ecosystem that allows for small and large businesses to prosper and allows for Canadians, Americans and Mexicans to prosper. Most important, we will continue to share those things we have in common while also celebrating the things that make Canada unique.
That is why we have already started the work, working with our premiers from coast to coast to coast and engaging with the incoming administration in the United States. Our job is to work for Canadians. Our job is to make sure Canadians see a government that is capable of handling difficult situations with measured, thoughtful responses, by showing that in conversations and being willing to listen to points of view that are different from ours, but never backing down on things that matter most to Canadians and to our prosperity.
The point I would emphasize is that our history is clear. Our history has been one of getting good deals done in the interests of Canada. The Conservatives' record on this is suspect at best; they would capitulate at every turn. Our track record is one of making sure Canadians are protected, but done in a way that the partners with whom we do these deals also feel they are benefiting, which is how good deals get done. Good deals are done when people respect one another, talk about the things that need to get done and do them together. It is an important lesson for all of us in the House as we engage in this debate. Perhaps the most important lesson we should all take away from tonight's conversation is the deep care that all of us are showing in ensuring Canada's interests are protected.
What I think is different is that many of us, certainly all of us on this side of the House, believe that putting Canada's interests first means being able to work with others, to have difficult conversations, to negotiate, to be strong in our values and to put those values at the centre of every conversation we have. Economic prosperity is built on the idea, ultimately, that we take the best of who we are, we support that, we grow and we prosper on the backs, on the intellect and on the hearts and minds of every Canadian from coast to coast to coast. Our businesses, big and small, have a role to play in this conversation, as do American businesses.
It is my hope and aspiration, and I certainly think it is everyone's on this side of the House, that by taking a team Canada approach, by showing a unified front and a willingness to negotiate and work hard without compromising what is important to Canada, we will create a win-win-win situation for all of our partners in North America.