A report from Oxford Economics, prepared for the Canadian American Business Council, warns Canada could lose 102,000 jobs and the U.S. 214,000 if CUSMA terminates in 2027. A successful renegotiation, by contrast, would create 137,000 American jobs and 98,000 Canadian ones, worth roughly $846 per Canadian household annually.
Ontario, Quebec, Manitoba, Michigan, Indiana and other manufacturing-heavy regions would bear the brunt, hitting autos, metals, machinery and chemicals hardest. A new round of 50 percent U.S. tariffs on Canadian goods, with no CUSMA compliance exemptions, is set to take effect August 19.
Canadian Labour Congress president Bea Bruske said workers can't be a bargaining chip in a trade war they didn't start, while Canada's trade negotiators are back in Washington this week meeting with U.S. Trade Representative Jamieson Greer. An estimated 2.5 million Canadian and 1.4 million American jobs depend on the bilateral trade relationship.
The full dispatch is available from the source below.