Manufacturing is the toughest because, thanks to trade signals, we have highly integrated manufacturing across North America, taking advantage of specialization and a larger market… Canada needs a solution that allows it to participate in those supply chains. One is that the focus on selling goods to Europe needs to be accompanied by looking at the advantage of CUSMA, NAFTA, and, before that, CUSFTA (the Canada–United States Free Trade Agreement), which is the rule of origin. And to the extent that the rule of origin, even when it’s 75 per cent (North American content) for auto, still allows 25 per cent non-compliant content, this is a way for companies in Europe to participate in North American manufacturing, because they can sell in that 25 per cent space. They can get into Canada — which isn’t gonna hit them with a tariff when they come in — get bolted into larger items that are CUSMA-compliant, and enter the U.S. market.







