Canada could lose more than 100K jobs if CUSMA dies: report
Oxford Economics said a breakdown would cut 102,000 Canadian jobs and 214,000 U.S. jobs, while a successful deal would add employment in both countries.
- On Tuesday, an Oxford Economics report commissioned by the Canadian American Business Council warned that a CUSMA breakdown could cost Canada 102,000 jobs and the U.S. 214,000 jobs in 2027.
- New 50 per cent U.S. tariffs on Canadian goods take effect August 19, with no exemptions for CUSMA-compliant products, prompting businesses to rush shipments ahead of the deadline.
- Manufacturing sectors including cement, concrete, and paper face the heaviest impact, with Ontario, Quebec, New Brunswick, Michigan, Indiana, Washington, and Iowa identified as the regions most exposed to trade volatility.
- Beth Burke, CEO of the Canadian American Business Council, warned that the findings signal "real jobs and security and stability" lost, stressing that "movement from both ends" is required for successful negotiation.
- A successful renegotiation could create 98,000 Canadian and 137,000 American jobs, highlighting the significant potential economic upside if negotiators manage to salvage the agreement before the August 19 deadline.
42 Articles
42 Articles
More than 100,000 Canadian jobs at risk if CUSMA falls apart
Ontario's manufacturing sector could be among the biggest casualties if the Canada-United States-Mexico Agreement falls apart, according to a new economic analysis that highlights what's at stake as trade talks continue between Ottawa and Washington. The report from Oxford Economics estimates Canada would lose more than 100,000 jobs if the trade pact were to collapse. Ontario and Quebec would be among the provinces facing the greatest impacts, p…
Canada Could Lose More Than 100K Jobs If CUSMA Breaks Down: Report
Canada could lose 102,000 jobs if the Canada-U.S.-Mexico agreement on trade breaks down, a new report warns. The report, prepared for the Canadian American Business Council by Oxford Economics, studied the potential economic consequences of various CUSMA scenarios, including termination of the deal. The report says the United States would lose 214,000 jobs in 2027 if CUSMA died. “Many of these jobs would be in manufacturing industries directly i…
Canada could lose hundreds of thousands of jobs, billions of dollars if CUSMA breaks down: report
A new report from the Canadian American Business Council found that a failure to renegotiate a North American trade deal would have widespread impacts on the Canadian economy, including the loss of 102,000 Canadian jobs and 214,000 American ones. On the flip side, a successful renegotiation would add jobs and boost GDP.
Quebec is one of the provinces that would be most affected.
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