The Government of Canada has launched a 45-day public consultation to gather feedback from the public and industry stakeholders on new and enhanced measures to secure Canada's economic interests. The consultation will run from Aug. 9 to Sept. 23, 2024, and aims to address evolving global economic and trade challenges, such as protectionist and non-market policies and practices by other countries and other forms of economic threats or coercion.
This consultation follows the recent consultation on unfair Chinese trade practices in electric vehicles, which concluded on Aug. 1, 2024.
The Government of Canada has highlighted several discussion questions aimed at identifying key external threats to Canada's economic security and understanding their impact on Canadian industries, particularly in critical emerging sectors such as energy and clean technology, critical minerals, artificial intelligence (AI), biotech, quantum computing, semiconductors and communications technologies.
The government also seeks input from the public and industry stakeholders on the potential benefits and risks of an array of proposed measures. Potential measures under consideration include:
- Suspension of benefits: Evaluating options to suspend non-tariff-related benefits under trade agreements in response to harmful trade actions.
- Trade remedies: Exploring enhanced anti-circumvention and enforcement authorities to further protect against unfairly dumped or subsidized imports.
- Investigative powers: Assessing the need for new administrative or quasi-judicial investigations reviews.
- Strengthening supply chains: Considering policy measures to fortify supply chains, especially in critical sectors, and limit sourcing of critical goods from entities that pose security risks to Canada.
- Incentives and tax credits: Potentially expanding Canadian incentives in key sectors like critical minerals to enhance national competitiveness.
- Trade controls: Ensuring export controls address national security risks from new technologies, and potentially adding additional critical or strategic items to the export and import control lists.
- Export duties: Considering amended or additional authorities to impose export duties on strategic products in response to trade actions of other countries or national security risks.
- Critical minerals: Exploring financing and strategic investments to enhance the resilience of critical minerals supply chains.
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