It’s hard to have a conversation these days that doesn’t veer into Canada/US relations. Looking past the political chirps, here are some of the numbers behind what’s at stake for business.

The Chamber’s national network has introduced the Canada-U.S. Trade Tracker — to illustrate the ties between our two economies.

“The stakes couldn’t be higher,” Canadian Chamber President and CEO Candace Laing said. “Tariffs and trade barriers jeopardize jobs, industries and families across both sides of the border. The Canada-U.S. Trade Tracker gives us the tools to push back with facts, showing just how much we all stand to lose when imposing taxes on prosperity.”

Every day, $3.6 billion in goods crosses the Canada-U.S. border, fueling a $1.3 trillion annual trade relationship. This partnership supports:

• 1.4 million US jobs tied to Canadian exports.
• 2.3 million Canadian jobs tied to US exports.
• 50% of bilateral goods trade between related companies, underscoring the depth of integration between our economies.

A 25% tariff could shrink Canada’s GDP by 2.6%, costing Canadian households an average of $1,900 annually. For the US, this would mean a 1.6% GDP drop, with families losing $1,300 per year. Beyond the economic impact, tariffs would disrupt industries like automotive, agriculture, and energy, making everything from groceries to cars more expensive.

There has been a seismic shift in the political landscape to start the new year. Earlier this week, Prime Minister Justin Trudeau announced he will step down as soon as his successor is in place.

Canadian Chamber President and CEO Candace Laing issued a statement saying it was the right move, and Canada must now harness our entrepreneurial spirit to boost our lagging productivity and deliver on the priorities that matter to Canadians.

“His resignation marks a turning point as Canada tackles unprecedented domestic and international challenges. Canada can’t afford inaction with so much at stake,” Laing said. “Unity is key: political leaders, businesses, and communities must come together around our common opportunities. Canada’s next Prime Minister must hit the ground running and be laser-focused on strengthening the Canada-U.S. trade relationship.”

Speaking on CFAX, Greater Victoria Chamber CEO Bruce Williams said the focus will now switch to who will become the next leader of the federal Liberal Party. Among the front runners are former Bank of Canada governor Mark Carney and former BC Premier Christy Clark.

The Chamber and our national network will continue to call on the federal government to end wasteful spending and over-taxation and do a better job of helping Canadians build a better life for themselves and each other.