00:00Canada could lose more than 100k jobs if Kuzma dies, report.
00:05Ottawa, Canada could lose 102,000 jobs if the Canada-U.S.-Mexico agreement on trade breaks down,
00:11a new report warns. The report, prepared for the Canadian-American Business Council by Oxford
00:17Economics, studied the potential economic consequences of various Kuzma scenarios,
00:22including termination of the deal. The report says the United States would lose 214,000 jobs
00:28in 2027 if Kuzma died. Many of these jobs would be in manufacturing industries directly impacted by
00:34tariffs, but the service sector would also feel the impact as lower disposable income causes
00:39households to reduce consumer spending and lower trade, and investment reduces demand for
00:44transportation, construction, and professional services, says the report. The successful
00:49renegotiation of Kuzma, it says, would create 137,000 American jobs and 98,000 Canadian jobs.
00:57The status quo is not a neutral baseline, said the report. Even holding today's tariffs in place
01:03slows export growth and keeps unemployment elevated in both countries.
01:08Bea Brusque, president of the Canadian Labour Congress, said in an email that Canadian workers
01:13can't be a bargaining chip in a trade war they didn't start.
01:17There are real jobs on the line, and the government needs to be ready to defend them,
01:21she said. But protecting Canadian workers cannot mean signing a bad deal because Donald Trump
01:27threatens to walk away. Canada needs to know what it is fighting for, where the red lines are,
01:32and what the plan is to protect workers and communities if the U.S. walks away.
01:37The report says the provinces and states affected most by the loss of Kuzma would include Ontario,
01:42Quebec, Manitoba, New Brunswick, Michigan, Indiana, Washington, and Iowa.
01:48For Canada, the industries facing the deepest impacts from the loss of Kuzma would include
01:53autos, metals, machinery, electronics, chemicals, wood products and paper products,
01:59the report says. The economic consequences are real and we should go into any negotiation with
02:04eyes wide open, Beth Burke, CEO of the Canadian American Business Council, said in an interview
02:10Tuesday. The report said a successful renegotiation of the deal would be worth
02:15approximately $516 per U.S. household and $846 in Canadian dollars per Canadian household each year.
02:23That's not insignificant, especially in a time where affordability is pinching everyone,
02:28she said. A new round of 50% American tariffs on a range of Canadian goods is set to take
02:34effect on
02:34August 19. Unlike most of U.S. President Donald Trump's other tariffs, these would have no exemptions
02:40for goods that comply with Kuzma.Canada youths. Trade Minister Dominic LeBlanc and Janice Charette,
02:46Canada's chief trade negotiator, are back in Washington this week for another round of trade
02:50talks. LeBlanc said on social media Tuesday that they met with United States Trade Representative
02:56Jameson Greer. Discussions remain ongoing, and we continue to engage at the negotiation table
03:02to firmly advance and defend Canadian interests, he said.
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