‘Buy Canadian’ movement could add $10 billion annually to Canada’s economy, says BMO economist: The Toronto Star
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The “Buy Canadian” movement, sparked by U.S. tariffs, could boost the economy by “roughly $10 billion annually,” BMO economist Robert Kavcic told The Toronto Star. “It’s a pretty meaningful source of stimulus for the Canadian economy,” though not enough to offset broader trade war impacts like “rising unemployment” or a weaker dollar.
Avoiding imports entirely is “almost impossible,” Kavcic noted, but even a “modest shift” in consumer habits could add “$6 billion to the economy.” Travel spending is also shifting—cross-border car trips dropped “as much as 30 per cent,” and keeping more of the $60 billion Canadians spend abroad could add another $4 billion.
Government efforts, like Ontario’s $3 billion contract push and proposals for free national park access, are supporting the trend. While some Canadians are “willing to pay a bit more” for local goods, others say prices are still too high.
