Latest news with #CanadianManufacturers&Exporters
Yahoo
11-07-2025
- Business
- Yahoo
Trump's new tariff threat hikes uncertainty for Canadian businesses
Canadian businesses are once again scrambling, trying to interpret the latest trade edict from U.S. president Donald Trump, who sent a letter late Thursday threatening Canadian imports with a 35 per cent tariff. Among the immediate questions was whether a raft of goods and services that are compliant with the existing trade deal with Mexico and the United States will remain exempt from new tariffs, with some businesses interpreting the latest edict as a worst-case scenario as the two countries negotiate to agree to new trade terms by a self-imposed deadline of Aug. 1 (extended from July 21). 'To be frank, the future of U.S. trade policy is as clear as mud,' said Avery Shenfeld, chief economist at CIBC Capital Markets. 'That's inevitable when White House decisions seem to be based on the whims, and mood, of one particular man, and when it's hard to ascribe changes to a well-articulated American objective.' Even if the threat is a negotiating tactic by Trump, as some business decision-makers believe, the uncertainty it brings is nevertheless a big concern. 'Having spent months under on-again, off-again tariffs and threats, Canadians already know just how damaging this can be — both to our economy and the relationship we've enjoyed with our southern neighbour for decades,' said Candace Laing, chief executive of the Canadian Chamber of Commerce. 'If the U.S. chooses to pay more for the products they already buy from us, it will be Americans who will bear the final cost, through inflated prices and disrupted supply chains. Meanwhile, the imposition of a blanket-rate tariff on Canadian goods will hit our manufacturers, exporters and workers, further elevating the uncertainty that is damaging the most productive trade relationship our two countries have ever had.' She said the business association is hopeful that the two governments will continue talks in good faith and behind closed doors to reach 'a real and reliable' economic and security relationship. 'Only this will benefit businesses and workers in both countries,' Laing said. Dennis Darby, chief executive of Canadian Manufacturers & Exporters, said the latest threat from the U.S. to increase tariffs is further undermining stability for manufacturers, workers, and cross-border supply chains in Canada and the United States. 'This unjustified threat creates more uncertainty for the very job creators in both countries who drive our shared economic prosperity,' he said in a statement. He referred to the development as a 'setback' and said it raises serious doubts about the U.S. administration's ability to negotiate in good faith. 'An agreement is urgently needed to remove the needless costs and instability being imposed on our integrated manufacturing sectors,' Darby said. In a statement, the Ontario Chamber of Commerce said the business community in the province is deeply concerned by the prospect of higher tariffs. 'This move, signalling increased trade uncertainty amidst ongoing negotiations, is profoundly disappointing,' the Ontario business group said, likening tariffs to a tax that would ultimately hurt businesses and consumers on both sides of the Canada-U.S. border. Sal Guatieri, a senior economist at BMO Capital Markets, said if goods compliant with the Canada U.S.-Mexico Trade Agreement (CUSMA) remain exempt from new tariffs, the threatened increase for some goods would result in a slightly larger, though still shallow, economic contraction, which the bank is already forecasting. 'If we lost the exemption, we are talking about a much more severe outcome,' he said. Jon Levin, a veteran corporate lawyer at Fasken Martineau DuMoulin LLP, said clients he has spoken to largely view Trump's letter as a negotiating tactic to pressure the Canadian government in its discussions with the U.S. so reactions are muted. But some are now questioning whether Canada's Prime Minister Mark Carney gave up a potentially powerful bargaining chip last month by abruptly abandoning Canada's digital sales tax, which would have affected large U.S. tech firms. 'There is a view that for the Trump administration to make (the 35 per cent tariff) announcement after Canada announced it would abandon the digital services tax demonstrates that there is no point in making concessions that are not part of an overall deal,' he said. 'Rather, it would have been better if Canada had announced that it was deferring the start date of that tax pending the outcome of trade negotiations with the U.S.' William Pellerin, a partner in the international trade practice at law firm McMillan LLP, said Canada has been seeking a broader defence and security pact, with the hope of returning to wider trade talks later this year or next. However, the Trump administration continues to tie any progress to two main sticking points — Canada' supply management system and concerns over fentanyl making its way into the country through Canada — while showing little evidence to support the latter. 'There is still a window, albeit just a few weeks, for the two sides to reach an agreement,' Pellerin said. The prospect of wider talks down the road to renew the CUSMA agreement with the U.S. and Mexico suggests Canada should carefully balance what the country is willing to give up and how hard it's prepared to push back in the current trade negotiations, said Shenfeld, the CIBC economist. Trump says U.S. will impose 35% tariff on Canadian goods starting Aug. 1 Trump's new tariff on copper 'inexplicable,' professor says 'If (CUSMA) isn't renewed in 2026, all of our exports could see double-digit U.S. reciprocal tariffs if they haven't been overruled by the U.S. courts,' he said in a note to clients. 'That's another reason to not go full elbows up now, or give the U.S. everything it wants at the negotiating table. We'll need to save some cards for the next hand, as we get to work on the (CUSMA) renewal.' • Email: bshecter@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
20-06-2025
- Business
- Cision Canada
Statement from Dennis Darby, President & CEO, Canadian Manufacturers & Exporters regarding passage of C-5, the One Canadian Economy Act, in the House of Commons
OTTAWA, ON, June 20, 2025 /CNW/ - Canadian Manufacturers & Exporters (CME) welcomes today's passage of Bill C-5, the One Canadian Economy Act, through the House of Commons. This legislation marks a meaningful first step toward fixing Canada's fragmented and inefficient approach to infrastructure approvals - one that has held back investment, delayed major projects, and weakened our economic competitiveness. From highways and ports to pipelines and clean energy infrastructure, Canada needs to get major projects moving - faster. Bill C-5 can help pave the way for clearer oversight, reduced duplication and greater government accountability, all of which are vital building the infrastructure our economy depends on. But this is only the beginning. The passage of Bill C-5 must not be the end of the conversation - it must be the starting point for a broader transformation. The federal government must now turn its attention to a much harder task: tackling the underlying web of outdated legislation, regulatory inefficiencies, and policy contradictions that have made a bill like this necessary in the first place. Until those deeper barriers are addressed, Canada will continue to struggle to attract private sector investment in the kinds of projects - big and small, urban and rural - that create jobs, grow communities, and position our economy for long-term success. Manufacturers are looking for outcomes, not just intentions. We look forward to the Bill passing in the Senate so that we can build on this momentum and do the hard work needed to truly unlock Canada's potential. About Canadian Manufacturers & Exporters (CME) From the first industrial boom in Canada, CME has advocated for and represented member interests. 150 years strong, CME has earned an extensive and effective track record of working for thousands of leading companies nationwide. More than 85 per cent of CME's members are SMEs and collectively account for an estimated 82 per cent of total manufacturing production and 90 per cent of Canada's exports.
Cision Canada
18-06-2025
- Business
- Cision Canada
NEW DATA: U.S. TARIFFS CONTINUE TO HAMMER CANADIAN MANUFACTURING, THREATENING JOBS AND INVESTMENT
OTTAWA, ON, June 18, 2025 /CNW/ - As Prime Minister Carney and President Trump commit to finalizing a new economic and security agreement within 30 days, Canadian Manufacturers & Exporters (CME) is warning that Canada's industrial base continues to suffer escalating damage. New survey data from CME reveals that three in four Canadian manufacturers are experiencing moderate to very severe harm from ongoing U.S. tariffs, undermining investment, employment, and broader economic stability. "The results are clear: tariffs are continuing to inflict serious damage on Canadian manufacturers and their workers—particularly in the steel, aluminum and auto sectors," said CME President & CEO Dennis Darby. "We urge the federal government to build on recent discussions between the President and the Prime Minister to secure a deal for Canada that removes these unjustified trade barriers." MANUFACTURERS TAKING ACTION TO MITIGATE TARIFF IMPACTS To cope with rising costs and market uncertainty caused by U.S. tariffs, manufacturers are actively adjusting their strategies—some of which are already contributing to reduced investment, job losses, and broader economic strain in Canada: 49 per cent are pursuing new export markets 44 per cent have cancelled or delayed investment plans 39 per cent have implemented hiring freezes or layoffs 16 per cent have shifted some production to the U.S. COUNTER-TARIFFS AND REMISSION PROCESS ADD FURTHER STRAIN Canada's retaliatory tariffs—many of which are temporarily paused—are also placing additional pressure on manufacturers: 66 per cent report increased input costs 46 per cent cite disruptions to supply chains and sourcing Just 3 per cent believe countermeasures have improved their competitiveness 22 per cent say they have had no noticeable impact Although the federal government has introduced a tariff remission process, awareness and uptake is low. Only 21 per cent of manufacturers are familiar with the process or have applied. Among those seeking relief: 56 per cent want help determining eligibility 44 per cent are seeking clear, step-by-step guidance on the application process 43 per cent are requesting training and documentation support CUSMA COMPLIANCE REMAINS A CHALLENGE FOR SOME While nearly 70 per cent of manufacturers report completing all required CUSMA documentation for eligible exports, challenges persists: 18 per cent produce CUSMA-compliant goods but have yet to complete the paperwork 35 per cent cite a lack of internal expertise as a barrier 33 per cent report receiving inconsistent guidance from government or trade advisors To support compliance, manufacturers are calling for: 42 per cent – clearer government guidelines, templates and digital tools 29 per cent – more direct access to government trade advisors 26 per cent – expanded training and workshop opportunities MANUFACTURERS CALL FOR STRONGER GOVERNMENT ACTION While recent relief measures are appreciated, manufacturers stress that more decisive action is urgently needed—especially if a deal with the U.S. is not reached in the coming weeks. Their top policy priorities include: 47 per cent – stronger diplomatic efforts to secure tariff exemptions or reductions 47 per cent – targeted tax relief to ease short-term cash flow pressures 34 per cent – temporary financial assistance to minimize layoffs and stabilize operations 30 per cent – a more accessible and efficient tariff remission process The survey, conducted in May and June, includes responses from more than 100 manufacturing firms across Canada. The findings underscore the vulnerability of Canada's manufacturing sector, which directly accounts for over 9 per cent of GDP, employs 1.8 million Canadians, and generates 60 per cent of the country's total goods exports. With more than 80 per cent of Canada's manufactured exports destined for the U.S.—representing over 40 per cent of total sector sales—the industry remains highly exposed to unwarranted U.S. trade actions. ABOUT CANADIAN MANUFACTURERS & EXPORTERS (CME) From the first industrial boom in Canada, CME has advocated for and represented member interests. 150 years strong, CME has earned an extensive and effective track record of working for thousands of leading companies nationwide. More than 85 per cent of CME's members are SMEs and collectively account for an estimated 82 per cent of total manufacturing production and 90 per cent of Canada's exports.
Cision Canada
09-06-2025
- Business
- Cision Canada
/R E P E A T -- National Lean Conference Comes to Winnipeg June 9-12 to Address Canada's Productivity Crisis and Supply Chain Resilience/
WINNIPEG, MB, May 20, 2025 /CNW/ - Canadian Manufacturers & Exporters (CME) is proud to announce that its flagship Embracing Excellence Lean Conference will take place June 9–12, 2025, at the RBC Convention Centre in Winnipeg, bringing together, over the course of four days, nearly 1,000 industry leaders from across the country to confront Canada's most pressing manufacturing challenges: lagging productivity, supply chain instability, and global trade uncertainty. "Canada's productivity crisis is directly impacting our competitiveness," said Otto Kemerle, CME Manitoba Advisory Board Chair and President of the International Truck Body. "Through Lean, manufacturers can take control of what they can improve. Operations, processes, and people. It's a strategic response to volatility that doesn't rely on subsidies or major capital injections." This year's program will explore how Lean methodologies can be applied to increase productivity without major capital investment, build resilient and responsive supply chains, and help Canadian manufacturers remain agile in the face of global economic shifts. It will also emphasize the importance of people and culture in sustaining long-term performance focusing on leadership, team engagement, and frontline empowerment. "Manufacturers are being squeezed by rising costs and increasing trade uncertainty," said Todd Leroy, Vice President of Manufacturing at Loewen Windows. "To stay competitive, we need to do more with what we already have. Improving productivity through Lean isn't optional; it's essential. It allows us to adapt quickly without relying on external support or massive infrastructure overhauls." This national event will offer immersive learning, practical case studies, and in-depth conversations on Lean manufacturing as a strategy to enhance competitiveness, agility, and workforce engagement. By gathering national voices in Winnipeg, the conference highlights Manitoba's strategic manufacturing and logistics role and supports regional efforts to build stronger, smarter operations that can weather uncertainty. ABOUT CME Canadian Manufacturers & Exporters is Canada's oldest and largest national trade and industry association. In Manitoba, CME works with manufacturers to help them grow with support and resources in the areas of Leadership & Executive Support, Lean & Productivity, Advanced Manufacturing & Innovation, Trade & Business Development, Workforce Development, Advocacy & Intelligence, Future Workforce, Safety and Networking.
Cision Canada
20-05-2025
- Business
- Cision Canada
National Lean Conference Comes to Winnipeg June 9-12 to Address Canada's Productivity Crisis and Supply Chain Resilience
WINNIPEG, MB, May 20, 2025 /CNW/ - Canadian Manufacturers & Exporters (CME) is proud to announce that its flagship Embracing Excellence Lean Conference will take place June 9–12, 2025, at the RBC Convention Centre in Winnipeg, bringing together, over the course of four days, nearly 1,000 industry leaders from across the country to confront Canada's most pressing manufacturing challenges: lagging productivity, supply chain instability, and global trade uncertainty. "Canada's productivity crisis is directly impacting our competitiveness," said Otto Kemerle, CME Manitoba Advisory Board Chair and President of the International Truck Body. "Through Lean, manufacturers can take control of what they can improve. Operations, processes, and people. It's a strategic response to volatility that doesn't rely on subsidies or major capital injections." This year's program will explore how Lean methodologies can be applied to increase productivity without major capital investment, build resilient and responsive supply chains, and help Canadian manufacturers remain agile in the face of global economic shifts. It will also emphasize the importance of people and culture in sustaining long-term performance focusing on leadership, team engagement, and frontline empowerment. "Manufacturers are being squeezed by rising costs and increasing trade uncertainty," said Todd Leroy, Vice President of Manufacturing at Loewen Windows. "To stay competitive, we need to do more with what we already have. Improving productivity through Lean isn't optional; it's essential. It allows us to adapt quickly without relying on external support or massive infrastructure overhauls." This national event will offer immersive learning, practical case studies, and in-depth conversations on Lean manufacturing as a strategy to enhance competitiveness, agility, and workforce engagement. By gathering national voices in Winnipeg, the conference highlights Manitoba's strategic manufacturing and logistics role and supports regional efforts to build stronger, smarter operations that can weather uncertainty. ABOUT CME Canadian Manufacturers & Exporters is Canada's oldest and largest national trade and industry association. In Manitoba, CME works with manufacturers to help them grow with support and resources in the areas of Leadership & Executive Support, Lean & Productivity, Advanced Manufacturing & Innovation, Trade & Business Development, Workforce Development, Advocacy & Intelligence, Future Workforce, Safety and Networking.
