Harper says Canada had ‘no choice’ but to walk away from U.S. trade talks

Former prime minister Stephen Harper told Canada's first-ever national investment summit that the federal government had "no choice" but to abandon trade talks with the United States. He stated this move was necessary, asserting that Canada needs to reduce its dependence on the U.S. and maintain its sovereignty. The collapse of trade negotiations in August led to retaliatory 50% U.S. tariffs on Canadian exports, prompting a reciprocal response from Canada.

Harper emphasized the need for Canada to become more internally competitive and connected, leveraging its natural resources as a unique advantage. He praised the government's efforts to expedite major project approvals, particularly in the energy sector, but called for more action to remove burdens and restrictions unique to Canada.

The summit aimed to attract $1 trillion in new investments over five years, with commitments from major pension funds, insurance companies, and banks totaling significant sums. Critics, however, questioned the lack of tangible results during the 18 months following the investment summit.