STATEMENT FROM DENNIS DARBY, PRESIDENT & CEO, CANADIAN MANUFACTURERS & EXPORTERS ON THE U.S. DECISION TO DELAY TARIFFS

OTTAWA, ON, Feb. 3, 2025 /CNW/ - Canadian Manufacturers & Exporters (CME) is relieved by the U.S. administration's decision to delay imposing tariffs and to continue engagement with the federal government. Enacting unwarranted tariffs would have inflicted immediate and severe harm to manufacturers, workers, and consumers on both sides of the border. 

This concern is shared by CME's counterparts at the U.S. National Association of Manufacturers (NAM) who have stated that "a 25% tariff on Canada and Mexico threatens to upend the very supply chains that have made U.S. manufacturing more competitive globally."

We remain hopeful that ongoing negotiations will lead to the full withdrawal of the tariff plan and a renewed focus on economic collaboration between Canada and the U.S.

However, this temporary reprieve must not be squandered. Federal and provincial governments must act decisively – developing robust contingency plans to protect Canadian manufacturers and workers if tariffs proceed and addressing the long-standing structural challenges hindering Canada's economic growth.

ABOUT CANADIAN MANUFACTURERS & EXPORTERS (CME)

From the first industrial boom in Canada, CME has advocated for and represented member interests. More than 150 years strong, CME has earned an extensive and effective track record of working for and with 2,500 leading companies nationwide. More than 85 per cent of CME's members are SMEs and collectively account for an estimated 82 per cent of total manufacturing production and 90 per cent of Canada's exports.

SOURCE Canadian Manufacturers & Exporters

FOR MORE INFORMATION: Anna Woodmass, Director, Strategic Communications, NATIONAL Public Relations, C: 416-571-2147 | [email protected]