logo
#

Latest news with #parallel

Varcoe: Alberta-led initiative to delve into complex cross-border relationship – from a Western Canadian vantage point
Varcoe: Alberta-led initiative to delve into complex cross-border relationship – from a Western Canadian vantage point

Calgary Herald

time16-05-2025

  • Business
  • Calgary Herald

Varcoe: Alberta-led initiative to delve into complex cross-border relationship – from a Western Canadian vantage point

Article content The initiative will hold a roundtable meeting Friday with researchers from both sides of the 49th parallel. Experts from Rice University, the University of Colorado, Arizona State University and the University of Nebraska will participate, along with Canadian researchers. Article content 'There is a realization we need something new, and there's a realization that is not coming out of Ottawa,' said Carlo Dade, director of international policy at the U of C's School of Public Policy. Article content 'Why not have it come out of the West? Why does work on North America have to be confined to capitals? Others across the continent deal with the impacts of these changes. Maybe we are in a better position to understand the new U.S., than folks who were so deeply, deeply grounded in the old way of thinking.' Article content Article content The importance of the Canada-U.S. relationship can't be overstated for this country's economy. Last year, about three-quarters of all Canadian exports headed to the United States, while 62 per cent of our imports came from our southern neighbour. Article content Article content Driven by increasing energy exports, Canada's merchandise trade surplus with the U.S. topped $102 billion. Article content The north-south trade links run deep, and access to the massive U.S. markets has previously come at relatively low or no cost for many businesses. Article content In Alberta, 89 per cent of the province's exports last year were destined for American customers, led by $134 billion of energy and minerals trade. Article content More than $9 billion of food and agricultural products, and almost $5 billion of machinery, also moved south. Article content 'Alberta is the economic engine of this country in so many different ways, and we have never really had a dedicated effort in understanding what this relationship has been, what it is now, and what it could be in the future,' said Sawhney, who studied economics at the University of Calgary. Article content 'How can we be more prepared for any other shocks that might be heading our way.' Article content The new initiative will conduct CUSMA analysis and modelling on the impact of tariffs, and work with municipalities to help them better prepare for the fallout of trade uncertainty. Article content Article content Dade said the research will involve students, and there's a realization that Canada needs to start training a new generation of experts on U.S. trade and the complex continental relationships. Article content The group also wants to conduct polling and focus groups with U.S. partners. Article content 'Had (Canada) been prepared for tariffs, we would have done more economic modelling, we'd have systems in place to help the small businesses deal with the tariff shocks. We would have had all of this work done and ready to go,' Dade said. Article content 'It's coast to coast to coast in Canada — no one was really prepared for this, and we can't repeat that mistake going forward.' Article content Following Mark Carney's meeting with Trump in the White House last week, the prime minister talked about Canada's willingness to start a broader discussion on the economic and security relationship between the countries. Article content The two leaders will meet in June at the G7 summit in Kananaskis. Article content Gitane De Silva, who served as Alberta's senior representative to the U.S. during Trump's first term, said the two countries needed to reset the relationship, which she believes began with Carney's trip to Washington. Article content She said the pace at which Trump's administration is moving has caught people by surprise on both sides of the border. Article content

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store