Duguid touts value-added investment to offset tariffs
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Hey there, time traveller!
This article was published 14/03/2025 (188 days ago), so information in it may no longer be current.
The government should invest more into Canadian production as a way to steer away from reliance on trade with the United States, according to the federal Liberal minister responsible for Prairies Economic Development Canada
Terry Duguid told the Sun on Thursday that he is conducting meetings with business owners across the region. Duguid provided a list of concerns he has heard, such as layoffs, cancelled investments and paused purchases of inventory that came because Canadian business has been ruffled by tariff threats.
“It’s going to hit the bottom line of companies,” Duguid said. “It’s just going to make life less affordable for our citizens, where there are already affordability challenges.”
Duguid said he would continue roundtable events to promote strategies the Liberal party is championing under prime minister-designate Mark Carney. The minister offered a 10-minute interview as he travels to promote the strategy and reassure citizens that Canada is acting in their defence.
When asked for a clear description of the Liberal government’s plan, Duguid said there are two basic points. The first is to fight back against the United States, and the second is to negotiate for an end to the fighting.
“The (first) clear approach is to respond strongly to tariffs with reciprocal tariffs,” said Duguid. “The other clear approach is that we will use diplomacy. We will work with Americans … to find solutions and get these tariffs taken off.”
Duguid said tariff talk has exposed weaknesses in Canada’s economy.
“We need to add more value here at home,” he said. “We sell our oats to the United States (and the oats) get turned into granola bars that then get sent back to us for consumption. Maybe we should produce those granola bars ourselves here at home.”
Duguid said this value-added focus could span across several sectors. Agriculture is one industry that could be a focus for this approach, he said.
» cmcdowell@brandonsun.com