Carney appoints bipartisan advisory panel as US tariffs hit Great Depression‑era levels

Prime Minister Mark Carney has established a 24-member advisory committee, aiming to consolidate Canada's strategy for anticipated tense trade negotiations with the United States. This move follows Carney's public address on Sunday, where he highlighted a fundamental shift in the US approach to free trade and the need for a unified national response.

Carney stated that U.S. tariffs have reached levels not seen since the Great Depression, signaling significant economic challenges. This increase underscores the urgency behind the Prime Minister's decision to form a new, broad-based panel for counsel on economic relations with the US.

The new committee represents a significant overhaul; it retains just four members from the prior trade advisory council, demonstrating a deliberate restructuring of Canada's advisory capacity. The 24-member group now includes prominent figures such as former Conservative leader Erin O’Toole and former Conservative cabinet minister Lisa Raitt, alongside past provincial premiers and industry leaders from banking, rail, energy, auto, and agriculture.

This strategic shift gains urgency as the US Commerce Secretary recently described the existing North American Free Trade Agreement (NAFTA), a pact governing trade between Canada, the US, and Mexico, as a "bad deal" for Americans. The Secretary further indicated NAFTA could lapse this summer, intensifying pressure on future trade relations and Canada's economic outlook.

The panel, set to convene for the first time on April 27, reflects a concerted effort to prepare Canada for complex discussions. Its diverse composition, drawing from across the political spectrum and key economic sectors, aims to provide robust and varied expertise.

The upcoming review of NAFTA in July looms large, presenting a critical juncture for Canada's long-standing economic ties with its largest trading partner. Carney emphasizes the need for a unified national approach to protect Canadian interests amidst changing US trade policy. Observers will closely monitor its initial recommendations and the government’s subsequent actions as the critical NAFTA talks approach this summer.