An uncomfortable truth: Canada’s misalignment with U.S. priorities will cost our economy
Photo from Munk School of Global Affairs and Public Policy.
As we approach the renewal of the United States-Mexico-Canada Agreement (USMCA) in 2026, we must face an uncomfortable truth: Despite America’s close connections to Canada, our deeply intertwined economies are overshadowed by U.S. priorities that increasingly focus on military and security concerns, areas where Canada’s role is often seen as insufficient, former Canadian finance minister Bill Morneau says in a Globe and Mail op-ed.
Since the renegotiation of NAFTA into the USMCA, the evolution of U.S. trade policy has moved beyond mere market access and is increasingly centred on bolstering domestic production, securing technological supremacy, and countering geopolitical rivals, particularly China, Morneau says, adding that this marks a significant shift away from the previous emphasis on global trade liberalization and consumer-driven growth.
According to Morneau, Canada must ensure its approach keeps pace with this new reality because we cannot afford to remain anchored in approaches that no longer resonate in Washington.
