Manitoba’s economy thrives on trade, and we’ve been reliant on our relationship with the United States to strengthen our economy. We now face new uncertainties and challenges for businesses, necessitating a strategic reassessment of cross-border trade and economic policies. The time is now to prioritize what we can control here at home, focusing on strategies and policies that strengthen our local economy and enhance our resilience.
The Cost of Inaction: Why Internal Trade Barriers Must Go
At this time of geopolitical uncertainty, rising protectionism and looming tariff threats, addressing internal trade barriers is no longer an option; it’s a necessity. These barriers cost businesses and consumers billions of dollars annually, driving up expenses and limiting growth, with economists likening the regulatory burden to a 21 percent tariff.
Removing inter-provincial trade barriers would not only drive economic growth; it would also strengthen Canada’s resilience to external threats to our trading markets. Since internal trade reform would also boost government revenue by over $15 billion, it presents a powerful counterweight to rising deficits, increased borrowing costs, and growing demands to deliver critical services and invest in needed infrastructure. It’s a way to ease financial pressures, enhance productivity, and generate revenue that can be reinvested into communities across the country.
Unlocking Manitoba’s Potential: Investing in Growth & Innovation
Now is the time to be deeply committed to strengthening our own provincial economy. Merely showcasing the opportunities in critical minerals, green energy, and the Port of Churchill is no longer enough. Likewise, it is no longer sufficient to make incremental investments towards these economic priorities. Rather, we need bold, decisive action and targeted investment to advance these strategic economic objectives.
Manitoba is abundant in natural resources and strategically positioned to meet rising global demand. Yet, in 2024, the province had just $1.7 billion in active mining, energy, and forestry projects – a striking contrast to Saskatchewan’s $26.7 billion. This disparity highlights the pressing need to fully leverage Manitoba’s strengths and accelerate growth in these critical sectors.
Manitoba has the resources, talent, and strategic advantages to lead in a shifting global economy – but only if we take decisive action. By eliminating internal trade barriers, investing in key industries, and strengthening our economic foundation, we can ensure that Manitoba businesses remain competitive and resilient in the face of uncertainty. Now is the time to move from conversation to action.
Driving Change Together: How You Can Get Involved
To help businesses navigate these challenges, we’ve launched the Trade Portal – your go-to resource for the latest updates, insights, and tools on tariffs and trade policies. We also want to hear directly from businesses about the impact of tariff threats and economic uncertainty. Your experiences will strengthen our advocacy efforts at the highest levels, including the Premier’s U.S. Trade Council. Share your story on the Trade Portal today and be part of the push for meaningful change.
