Canada's Trade Barrier Solution: Carney's Vision for Free Trade

Prime Minister Mark Carney aims to counteract U.S. tariffs by eliminating Canada's internal trade barriers by July 1. This plan includes harmonizing provincial regulations, mutual rule recognition, and creating national standards, potentially reducing trade costs by 15% and expanding the economy by up to 8%.

Prime Minister Mark Carney announced on Friday that Canada intends to counteract the impact of U.S. tariffs by dismantling internal trade barriers across the nation. His proposed national free trade plan aims for implementation by July 1, following consultations with provincial and territorial authorities.

Carney revealed that legislation would be introduced to facilitate the free movement of goods across Canada, eliminating federal barriers that have long hindered economic growth. The reduction of internal barriers could cut trade costs by up to 15% and enlarge the economy by up to 8%.

Main approaches to achieve this include harmonizing interprovincial regulations, acknowledging provincial rules mutually, and establishing common national standards. This initiative addresses longstanding complaints from business sectors about restrictive trade barriers and protracted permitting processes for significant projects. Additional measures include a commitment to ease worker accommodations and expedite infrastructure project approvals.

(With inputs from agencies.)