Champagne defends tariff response, highlights Alberta's role in Canada's growth agenda
‘The world is not waiting for us to do what needs to be done to capture the opportunities,’ Finance Minister François-Philippe Champagne told the Edmonton Chamber of Commerce. / CPAC SCREENSHOT
Finance Minister François-Philippe Champagne defended Ottawa’s response to the escalating trade war with the United States this week, arguing Canada’s economy remains well-positioned despite mounting economic uncertainty.
“We don't want to escalate, but we know how to respond and how to protect,” Champagne said at an Edmonton Chamber of Commerce fireside chat, adding Canada's retaliation was designed to minimize impacts on consumers by targeting products with available alternatives.
Describing federal countermeasures as “proportionate,” “strategic” and “targeted,” Champagne said the government remains open to negotiations with Washington.
“At the right time, there will be further engagement,” he said.
Champagne said Ottawa's response has focused on providing liquidity support for affected businesses and workers. At the same time, he argued the economy will continue its long-term growth because of its energy resources, critical minerals and access to international markets.
“The world energy architecture is being redesigned, and Canada will be at the centre,” he said. “The world is not waiting for us to do what needs to be done to capture the opportunities.”
Asked whether oil and gas could be used as leverage in future talks, Champagne declined to speculate but emphasized the deep economic integration between the two countries.
“Over many decades, the United States and Canada have had these very integrated supply chains ... that serve people and communities and businesses well on both sides of the border,” he said.
Pressed on the potential cost of the trade dispute for Canadian households, Champagne did not provide an estimate but pointed to a recently announced $7.5-billion support package, adding Ottawa has provided approximately $25 billion in support to workers and industries over the previous 18 months.
More unity, please
When asked about Alberta's Oct. 19 referendum, Champagne avoided discussing potential outcomes but said Canada needs “more unity and relentless focus” rather than additional uncertainty.
Champagne declined to provide a timeline or discuss specific projects in front of the Major Projects Office, however, he acknowledged the need to expand market access for Canadian resources.
“We get it. We get that we need to bring our resources to market ... we get that we need to expand,” he said, describing the Major Projects Office as a way to provide regulatory certainty and accelerate approvals through a “one project, one assessment” approach.
Champagne rejected suggestions that the federal government is at odds with Alberta, saying he has maintained an open dialogue with Premier Danielle Smith and worked with her to attract major investments to the province.
Speaking with reporters afterward, Champagne said Canada has a “generational opportunity” to capitalize on global demand for energy and critical minerals, arguing Alberta is positioned to play a central role in national growth.
Alberta and Western Canada are “front and centre” in the federal government's growth agenda, Champagne said.
