OTTAWA – As the United States imposes new tariffs and continues down a path of economic isolationism\u2013comparable to the economic policies of European fascists of the 1930s\u2013 the Green Party of Canada sees a unique opportunity for Canada.<\/p>\n\n\n\n
\u201cWe can\u2019t have an economy that chiefly extracts raw resources, ships them south, and then expect that we will prosper,\u201d said Jonathan Pedneault, co-Leader of the Green Party of Canada. \u201cYesterday\u2019s tariff announcement marks a turning point. The U.S. has slammed the door on global trade. With an international trading system changing, this is an opportunity for Canada.\u201d<\/p>\n\n\n\n
The new American tariffs have rattled global markets and drawn condemnation from Canada\u2019s allies. Trumponomics delivered a devastating blow to the European Union, our economic and strategic partner. We need to reach out to our European partners, and prioritize how we can come out of this together. Democracy depends on it. <\/p>\n\n\n\n
Contrary to Trump\u2019s very dismal economic thinking, America’s trade deficit reflects the extravagant spending of its corporate elite, primarily driven by ongoing large budget deficits due to tax cuts for the wealthy and significant expenditures on useless wars. Canada, nor any other country, is the cause of these deficits. <\/p>\n\n\n\n
\u201cWhen the U.S. antagonizes its allies and disrupts global supply chains, the world looks for reliability,\u201d said Pedneault. \u201cAnd that\u2019s Canada –\u00a0all of the talent, none of the chaos.\u201d<\/p>\n\n\n\n
The Green Party believes this is the time for Canada to become more than a resource economy. It\u2019s time to add value at each stage of production and to invest in domestic manufacturing.<\/p>\n\n\n\n
To ensure Canada\u2019s long-term sovereignty and economic resilience, the Green Party demands that the federal government and the Canada Pension Plan Investment Board (CPPIB) take an active role in building the country\u2019s future.<\/p>\n\n\n\n
\u201cCanada\u2019s wealth must be put to work for Canada, not the best rate of return in global markets,\u201d said co-Leader Elizabeth May. \u201cUnder the current rules, the Canadian Pension Plan is invested\u2013 NOT to benefit our economy\u2013but anywhere in the world for return on investment. We need to mandate our pension funds to invest in the Canadian economy, create Canadian jobs and promote made in Canada innovation. After all, we\u2019re talking about the hard-earned money of Canadians.\u201d (Investments in Canadian equity are under 5%.) <\/p>\n\n\n\n
\u201cThe Greens are also proposing the creation of strategic reserves held by existing Crown corporations to acquire and steward key raw resources, as part of a national reserve strategy,\u201d added Elizabeth May.<\/p>\n\n\n\n
The creation of Strategic Reserves is a non-budgetary transaction, essentially an asset swap with a negligible impact on the Government of Canada\u2019s books. Additionally, Greens propose a bond issue\u2014\u201dSaving Canada\u2019s Bonds\u201d\u2014where Canadians can invest in securing Canada\u2019s strategic resources.<\/p>\n\n\n\n
\u201cWe\u2019ve transitioned our economy before,\u201d said May. \u201cWe can do it again. This isn\u2019t a time for timid tweaks or management fixes. It\u2019s a time for vision and an all hands on deck approach, where the federal government works closely with the provinces to invest in a sustainable and prosperous future.\u201d<\/p>\n\n\n\n
#####<\/strong><\/p>\n\n\n\n For more information or to arrange an interview : <\/strong><\/p>\n\n\n\n Fabrice Lachance Nov\u00e9<\/strong><\/p>\n\n\n\n Press secretary<\/strong><\/p>\n\n\n\n 514-463-0021<\/strong><\/p>\n\n\n\n