Gov. Cox tells Canadian leaders Utah is ‘open for business'
Following an hourlong meeting with his executive counterpart in Ontario, Cox told reporters at the province's legislative building that he will have conversations with Trump about the future of his tariff policy.
'There was no hesitation,' Cox said. 'It was the exact opposite. I'm more excited because of what's happening now, because I think the opportunities are even greater.'
Before the trip, Cox said he was asked whether he still planned to visit Canada amid the market turmoil and political tensions.
On Thursday, Cox said he understood Canadians' sense of 'betrayal' but said he was hopeful about the future of U.S.-Canada relations because of what he had seen during his week in Canada.
In response to the tariffs, Canada has imposed reciprocal 25% tariffs on around $60 billion of American goods and non-USMCA compliant vehicles. Canadian Prime Minister Mark Carney stated last month that the U.S.-Canada relationship as the world had known it was 'over.'
The tariffs on Canadian products include a 25% charge for automobiles, auto parts and up to $360 billion of other goods that fall outside of the U.S.-Mexico-Canada Agreement (USMCA); 10% on non-USMCA compliant energy and minerals; and 25% on all steel and aluminum imports to the U.S.
Other than China, few nations have been as impacted by the new trade levies as Canada. Canada is the second largest overall trading partner with the U.S. and with Utah. Despite having very few barriers to American trade, Canada was the target of Trump's first tariff announcement and has been disproportionately impacted by industry-specific tariffs.
During his four years in office, Cox has continued the practice of leading one or two trade missions a year. The Canada trip was originally planned for last year but was rescheduled for 2025 before the international economic upheaval following Trump's 'Liberation Day' announcement last week.
'Sub-national relationships are more important than they've ever been before,' Cox said, speaking at a 'Why Utah' luncheon. 'This will work itself out at some point, and when it does, I'm here to tell you that Utah and Ontario will have even stronger relationships because of it.'
As the first governor to visit Canada since President Donald Trump implemented a new global tariff regime, Cox expressed optimism about the strength of the U.S.-Canada relationship in meetings with Ontario Premier Doug Ford and the Toronto business community on Thursday.
TORONTO — Utah Gov. Spencer Cox told top Canadian officials and investors that now was the best time for Utah to lead a trade mission to the country and said he would encourage his fellow governors to do the same.
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Cox, the previous chair of the National Governors Association, also said he plans to send a letter to his fellow governors, urging them to follow Utah's lead by visiting Canada.
'He's the very first governor in 2025 to come to Canada, writ large, and spending the time here is incredibly important during these very, very challenging times,' said Brad Harper of the U.S. consulate in Canada.
Why Utah?
Cox's delegation, made up of around 30 cabinet members, state lawmakers, business leaders and university administrators, has spent the last week meeting with government agencies and industry experts in Quebec and Ontario to signal Utah's desire to forge additional economic ties in the areas of critical minerals and artificial intelligence.
In private diplomatic settings and during Thursday's 'Why Utah' presentation with World Trade Center Utah and the Governor's Office of Economic Opportunity, Cox pitched Utah as the best-positioned state in the union to attract Canadian business and to strengthen cross-border ties.
'Utah (is) the gem of the United States economic machine,' Cox said.
In 2024, the state had the highest gross domestic product growth in the United States at 4.5% — double the national GDP growth — according to the University of Utah's Kem C. Gardner Policy Institute.
Utah has also been ranked the No. 1 state by U.S. News & World Report for two years running, the best place to start a business, the state with the highest social mobility, the state with the largest growth in the last census and the state with the best economic outlook for 17 years in a row.
'We are open for business,' Cox said. 'We recognize that the economic ties between your country and our country run deep, but it is so much more than just economics — you are our closest friend, our closest ally."
Jonathan Freedman, the CEO of World Trade Center Utah, which helped to organize the trade mission, said there are 112 Canadian-owned businesses in the state of Utah employing around 5,000 people.
In addition to hosting the Winter Olympics again in 2034, Freedman touted Utah as the most multilingual state in the country, with 131 languages being spoken by current residents of the state.
'We're internationally minded,' Freedman said, showing a picture of Cox and Ford holding up hockey jerseys from each others' NHL teams.
In 2024, Utah's trade volume totaled $40.1 billion, including $18.2 billion in exports to other countries, a 5% increase from the year prior. Of those exports, $1.5 billion were to Canada. That same year, Utah imported $4.7 billion in goods from Canada.
Ryan Starks, the executive director of the Governor's Office of Economic Opportunity, pointed out that while Utah is a mid-sized state, the Wasatch Front more closely resembles the greater Orlando and Charlotte metropolitan areas in terms of population.
Starks also highlighted the state's economic development tax credits, as well as the state's high median income and interconnectedness as the crossroads of many international flights, the railway system and inland ports.
What's the ROI?
Members of Cox's trade delegation told the Deseret News they believe the weeklong mission would bring home big wins for the Beehive State because of the relationships that would not have been formed otherwise.
'A lot of trust was built,' said Rich Israelsen, chief revenue officer at World Trade Center Utah. 'We could see how we can work closer together with Canada in a very real way.'
There were multiple 'aha' moments, Israelsen said, where Utah organizations that focus on critical mineral extraction were able to make supply-chain connections with Canadian companies that can process the raw materials coming out of Utah mines.
The same was true for the state's defense industry, represented in Canada by Kori Ann Edwards, the chief strategy officer at 47G, previously known as the Utah Aerospace and Defense Association.
'I see a lot of supply chain opportunities,' Edwards said. 'There's a lot of companies that I met that are already doing business in Utah, and I think we can strengthen that and strengthen the aerospace and defense supply chain within the two countries, especially in Quebec.'
Edwards said the state's rapidly growing defense industry is going to see a boost from strengthened relationships with Canada, which is America's top supplier of steel and aluminum.
The trip also gave 47G, and other organizations tasked with forming the state's critical mineral strategy, a window into how Canadian provinces are coordinating mining priorities with smart regulation, Edwards said.
In addition to critical minerals, the trade mission also focused on artificial intelligence and financial technology — two places where Utah hopes to be a leader.
Ryan Christiansen, the first executive director of the Stena Center for Financial Technology at the University of Utah, said that finding shared priorities with Canadian universities and visiting some of the top AI and investing institutes in North America gave him insight into partnerships between higher education and business.
'Forming some relationships with some of the universities so that we can determine synergies and research in one space, and then also synergies in the industry partners that we work with,' will produce the greatest return on investment from his point of view, Christiansen said.
According to Derek Cahoon, a representative of the banking industry, the benefits from the Canada trip came just as much from the interactions within the delegation as those with Canadian business leaders.
'For me, it's the relationships built with those who were on the delegation and those people who we met in Canada and fostering those relationships for future business opportunities,' Cahoon said.
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