From trade to trust: Hyder calls for Canada to lead with strategy, not emotion

"Fresh off a trip to Washington, Hyder sat down with RealAgriculture's Lyndsey Smith to share insights from meetings with U.S. trade officials and lawmakers, where there was strong consensus across North American business communities that the USMCA "is an agreement that's worked." He stresses the importance of engaging in the CUSMA review process-which is not a renegotiation-as outlined in the agreement, urging Canadian leaders to "be at the table" or risk being sidelined, echoing Prime Minister Mark Carney's comments from Davos last week."

"While optimistic about renewal, Hyder does note there are serious risks if the USMCA slips into annual reviews, which could paralyze business investment across the continent. "Uncertainty is not a good thing for business," he says. Hyder also weighed in on recent controversy over Canada's re-engagement with China. He defended the government's decision to pursue trade discussions-particularly around agriculture exports like beef and canola-noting Canada had reason to resolve trade irritants with the country."

"On the domestic front, Hyder expressed frustration with Canada's fragmented approach to economic development. He points to interprovincial trade barriers as getting in our own way and called for a "national strategy" that stops pitting regions and sectors-like autos vs. agriculture-against one another. He also underscored the need for nation-building infrastructure that enables diversification beyond the U.S. market."

Canada can navigate current economic turmoil by focusing on what is within national control and removing self-imposed obstacles. There is strong North American business consensus that the USMCA has worked, and active engagement in the CUSMA review process is critical to avoid being sidelined. Allowing the agreement to lapse into annual reviews risks paralyzing continental business investment because uncertainty harms investment decisions. Re-engagement with China aims to resolve trade irritants, particularly for agricultural exports such as beef and canola. Domestic fragmentation and interprovincial trade barriers hinder growth; a national strategy and nation-building infrastructure are needed to diversify beyond the U.S. market and pursue a U.S.-plus model.

Read at Realagriculture