Investing.com -- Canada’s Conservative Party Leader Pierre Poilievre spoke today in Toronto, outlining his plan to address the U.S. tariffs set to be announced later today by U.S. President Donald Trump.
He described his plan in three parts: 1) Canada needs an immediate response; 2) Canada must tackle the tariff dispute after the election to bring it to an end; 3) Canada requires a long-term plan to build its economy, ensuring the country is never again vulnerable to threats from other nations.
Immediate Response
Poilievre stated that Canada’s first course of action should be targeted reciprocal tariffs. These tariffs would focus on American goods that are unnecessary, that Canadians can produce themselves, or that can be sourced elsewhere. He argued that this strategy maximizes impact on the U.S. while minimizing harm to Canada.
As a second course of action, Poilievre pledged his support for protecting Canadian jobs. As a top priority, the Conservative Party Leader underscored the importance of “maintaining the link” between companies and workers. He explained that if this link is broken, it becomes far more difficult and costly for companies to retain employees.
Poilievre then announced that, if a new Conservative government is elected, his administration would launch a “Keeping Canadians Working” fund—a temporary loan program for businesses directly affected by the tariffs. He believes this fund, modeled after a program Canada initiated during the global recession, will tie people to their jobs and keep the economy stable.
Ending the Trade Dispute
Focusing on the second part of his plan, Poilievre acknowledged that in the trade dispute, “There is no guarantee, but we have to try.”
If elected, Poilievre declared that he would propose renegotiating the USMCA trade pact with the U.S. to secure a new trade and security agreement for Canada. With the USMCA set to be renegotiated next year, Poilievre argued that expediting the process would provide clarity during uncertain times.
Poilievre continued his proposal, suggesting a firm deadline for reaching a new agreement. Furthermore, he believes both countries should pause tariff implementation while negotiations are underway.
Long-Term Plan and New Deal Focus
Regarding the deal, Poilievre did not confirm specific details of his proposals but highlighted key areas of focus.
First, he emphasized the protection of Canada’s borders, security, resources, and workers. He also stressed safeguarding Canada’s sovereignty, laws, currency, land, and culture. Poilievre pledged that, if elected, no negotiations would result in a loss of Canada’s sovereignty.
Second, on the matter of defense, Poilievre vowed that all additional revenue generated from expanded trade with the U.S. would go directly to Canada’s Armed Forces. He emphasized that Canada would meet its 2% GDP military spending goal and take firm control of Arctic waters currently contested by China and Russia.
Third, while agreeing with the U.S. to secure Canada’s border against drugs and illegal immigration, Poilievre stressed that he would demand the U.S. secure its own border to protect Canada from illegal gun shipments.
Addressing concerns that Trump might violate a new deal—as he did with the previous one—Poilievre suggested that Canada should make commitments on defense, border security, and market access that it could withdraw from in the event of future violations.
Poilievre stated, “A credible plan to deal with Trump must prepare Canada for growth, with or without reliable trade with the Americans.”
Election
Poilievre then turned his attention to Prime Minister Mark Carney and Canada’s Liberal Party. Poilievre is running in direct opposition to Carney in the election for Prime Minister, set to commence on April 28.
He emphasized that Canada has experienced the least economic growth of any G7 country over the past decade, arguing that the weakest period of growth occurred during current Prime Minister Mark Carney’s tenure as former Prime Minister Justin Trudeau’s Economic Advisor. Poilievre pointed to per-capita GDP, noting that it is lower than it was five years ago, compared to the U.S., which has seen 18 times greater per-capita GDP growth.
The Conservative argued that Canada is more “dependent and helpless than ever before” due to the policies of Mark Carney, Justin Trudeau, and the Liberal Party over the past decade. He suggested that Trump would prefer Carney to win the election because, “Donald Trump knows that a fourth Liberal term under Mark Carney would make Canada even weaker and poorer than it has been over the last decade.”
