The Canadian Chamber of Commerce, and by extension the Sarnia Lambton Chamber of Commerce, is behind a coalition advocating free trade principles within North America and around the world.
Keep Trade Free is intended to help organizations mobilize at the local, state and federal levels to advocate for freer trade within North American and around the world, as well as to ensure a successful renegotiation of NAFTA for continued economic prosperity for Canada, the U.S. and Mexico.
While the principles of free trade are well-recognized as producing net benefits for all those involved, current initiatives by the U.S. threaten to destabilize the free flow of goods and services in ways that can already be seen.
The idea that “we are all in this together” is a message that is resonating with Keep Trade Free supporters.
The facts on the table worth considering in any discussion around trade:
- Canada is the largest trading partner of the U.S., resulting in U.S. companies relying on Canadian buyers to the tune of nearly 300 billion USD.
- Nearly nine million U.S. jobs depend on trade with Canada, which leaves the U.S. at risk of losing two million of those jobs by 2026 with continued tariffs and a failure to reach a new NAFTA agreement.
- Each American household stands to lose more than 1,000 USD of purchasing power without a renewed NAFTA. With an average household income of 59,000 USD, families will lose up to 20% of what they have to spend after paying all of their bills. That is real pain for the average U.S. family.
- More than two-thirds of a trillion USD of goods and services cross the U.S.-Canada border every year, which amounts to nearly a quarter of all U.S. trade.
- The supply chains of U.S. and Canadian companies are so inextricably integrated that it would take companies three to five years to fully restore their suppliers with solely domestic providers. No company can weather that storm, U.S. or Canadian.
Canada and the U.S. have been growing together as neighbours for nearly 200 years, creating shared prosperity for businesses on both sides of the border.
We need to come together with one voice to protect North American companies and jobs because we are already one business community.