CORNWALL, Ontario – The Cornwall business community got to learn about the challenges and advantages of cross-border commerce at Bridges to Better Business on Wednesday, Oct. 18, 2018.
The keynote speaker was Rick Tachuk, National Chairman of AmCham Canada, an organization dedicated to cross border commerce.
Tachuk explained how the cross-border business landscape had changed in light of the recently revamped North American Free Trade Agreement (NAFTA) now known as the U.S., Mexico, Canada trade agreement (USMCA).
Tachuk said that one positive that Canada managed to keep in their new agreement with the U.S. were the clauses that pertained to labour mobility, something that the Trump Administration had wanted to remove completely.
“We are living in an era of uncertainty,” said Tachuk. “The U.S.’s policies of America First means that Canada needs to act now to become more competitive.”
He explained that making efforts to remove red tape for businesses would strengthen Canada’s position, as would reducing their taxes.
“When companies look at new investments to Canada, they may start to look at the U.S. instead,” he said. “Canada need to move quickly to create a positive business environment.”
Tachuk said that both countries are facing challenges when it comes to labour.
“Both countries are facing labour shortages,” he said. “It will be up to local businesses and governments to create better employment opportunities.”
“The reality is that it is up to businesses on both sides of the border to work together for the future,” he concluded.