We are all in this together. U.S. and Canadian companies know the value of free trade between both of our countries, which is why we need to act to make sure that our bottom lines and our jobs are not killed by bad U.S. trade policy.
The Milton Chamber of Commerce has partnered with the Canadian Chamber in its Coalition to Keep Trade Free. The aim is to mobilize organizations 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.
We must consider the facts:
- 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.