Mr. Speaker, the city of Guelph is one of the most vulnerable to the U.S. tariffs that are hurting our industries. However, the Canadian Chamber of Commerce has been telling us for several months that countertariffs are not necessarily the best way to protect our industries, which employ all these people in my city and in my colleague's city.
We need to look at the bigger picture. We have an inflation rate of 1.9%, which is down from 8.1% in June 2022. The rate has been within the Bank of Canada's target range for over a year and a half. Even during and after the pandemic, Canada had one of the best inflation rates among G7 countries. The Bank of Canada was the first bank—