Today, Vic Fedeli, Minister of Economic Development, Job Creation and Trade issued the following statement on the Canada-United States-Mexico Agreement (CUSMA):
"The Ontario government welcomes the implementation of this important trade agreement and looks forward to the greater certainty it provides to help businesses grow and protect jobs across the continent.
Nearly one in five Ontario jobs depend on trade, and approximately $400 billion CAD in two-way trade in goods travels across the U.S. and Canadian border in Ontario every year. We know that ensuring strong trade ties is vital to businesses and the communities they support on both sides of the border.
Our government's top priority during the negotiations was to protect jobs for the hard-working people of Ontario. I want to thank the leaders and negotiators from all three countries who worked long hours and reached across party lines to secure this critical deal.
The economic impact of COVID-19 has demonstrated the need to continue forging mutually beneficial partnerships and ensure Ontario businesses have access to the world's markets. The joint relationship between Ontario and the U.S. has always been strong, and as we proceed on our path to economic recovery it has never been more important to strengthen this relationship for the benefit of businesses, workers, and consumers in both jurisdictions.
Our government will continue to support Ontario businesses and Ontario workers, including our aluminum and steel industry, farmers and our vital agri-food sector. The strength of our trading relationship will be integral for these industries over the coming months, and we will continue to take decisive action to put us in a position to reduce risks and provide the fiscal certainty that will see our economies recover faster. Strengthening our unique trading partnership will only ensure that everyday consumers, workers, and businesses can emerge from this period of economic uncertainty in a position of strength.
Ontario's commitment to building bridges and not barriers remains unchanged. Today marks an important step that will ensure a prosperous way forward together."
CUSMA entered into force on July 1, 2020.
Get details and more information on the agreement, the statement from the Deputy Prime Minister, the impact on small and medium-sized enterprises and much more.