Elbows Up for Canada’s Economy

U.S. President Donald Trump’s attacks on Canada’s economy and sovereignty confront Canadians with a historic challenge. We must once again demonstrate our shared commitment to building a society that is more than the northern appendage to a much larger continental neighbour. Instead, we must reassert our economic, political, and social determination, and capacity, to chart an independent course.

This moment demands a nation-building economic strategy that enlists the full potential of our people, our skills, our geography, our resources, and our values. After all, those values – including commitments to equity, fairness, inclusion, and the natural environment – are why we desire a viable, independent Canada.

We, the co-sponsors and participants in the Elbows Up Economic Summit, express our shared concern that Canada’s response to Trump’s attacks to date has not acknowledged the breadth and risks of the challenges we face, and the opportunities that the world’s 9th largest economy can provide. Hoping that things can get back to “normal,” or trying to negotiate a trade “deal” with the U.S. President that would likely accept punishing U.S. tariffs on some of our most important industries, allows  the U.S. to dictate matters (from defense spending to corporate taxation) that should be decided by Canadians. Moreover, beyond the damage of Trump’s unilateral tariffs, there is more risk and uncertainty facing Canada from the upcoming renewal and review of the full CUSMA. Some business interests argue that appeasing Trump, weakening project approval conditions, cutting taxes and regulations, and doubling down on fossil fuel exports will somehow benefit Canadians and protect against Trump’s attacks; these arguments are both wrong and self-serving.

The Elbows Up Economic Summit catalogued the full spectrum of challenges that must be addressed as we develop and implement a nation-building economic plan. These include:

• • Our need to diversify what we sell to world markets (not just where we sell it).
  • Our need to invest far more in technology and innovation (including through public channels).
  • Our need to protect and grow the non-traded side of the economy (including public and caring services).
  • Our need to regulate investment in all parts of the economy (including foreign investment and private equity) so it does not jeopardize the public interest, public services, or public assets.
  • Our need to fulfil our international climate commitments.

The Summit also highlighted key opportunities to include in a comprehensive economic strategy to build an independent economy: investments in housing, community, and transportation infrastructure; rapid expansion of renewable energy facilities and other decarbonization initiatives; an ambitious, hands-on industrial strategy to preserve and expand Canada’s capacity to add value to our own resources through advanced manufacturing and technology; and continued investment in public services and the care economy (which equip Canada with the most important economic asset of all: a healthy, well-educated, capable population).

We call on the federal and provincial governments, business leaders, trade unions, and all sectors of civil society to collectively articulate and advance a broader and more holistic vision for how Canada can withstand U.S. aggression, and move forward as a full-fledged, capable, democratic, and principled country.

Canada’s response to Trump must maximize our technological and industrial potential, and resist our country falsely being pigeon-holed as a resource supplier.  It must reconfirm our global responsibilities to reduce emissions under the Paris Agreement process. It must prioritize meeting human needs (including housing, infrastructure, public services, and care) as the central goal of economic development. And it must fully respect Canadians’ democratic rights and protections (including of Indigenous peoples) as economic development proceeds.

Following the Summit, we will keep working together to more fully develop a vision for nation-building that reflects these core principles and values. And we urge governments, business, and other stakeholders to respect and protect those values as we work together to defend Canada.

Joint Communiqué from the co-sponsors of the Elbows Up Economic Summit: Canadian Centre for Policy Alternatives, Centre for Future Work, Progressive Economics Forum, Pledge for Canada, Council of Canadians, C40 Centre for City Climate Policy and Economy, Care Economy Team, Elbows Up for Climate.