CTMA Breakfast Seminar Discusses USMCA, Tariffs
Mario CywinskiIndustry Machinery and Equipment Maintenance Manufacturing Machine Building Manufacturing aluminum automotive bmo ctma deloitte global machining steel tariffs tooling trade usmca
The Canadian Tooling and Machining Association (CTMA) recently partnered with BMO and Deloitte to host a breakfast seminar at the Galt Golf and Country Club in Cambridge, Ontario. The topic was USMCA and Steel/Aluminum Tariffs The Good, The Bad, The Ugly!
According to CTMA, the seminar was designed to address questions and uncertainty the industry has regarding these topics.
Two speakers highlighted the meeting, Sal Guatieri, Senior Economist and Director, BMO Capital Markets, and Frank Caruso, Eastern Canada Global Trade Advisory Services Leader, Deloitte.
Guatieri spoke about Canadian Manufacturing Outlook: Trade, Trump, Truckin’ on. He mentioned that manufacturers would be well positioned as economic growth is decent, a low loonie has exports up, tax cuts may be coming, and there is less trade uncertainty, which helps investment. Challenges were also covered, which include higher interest rates, metal tariffs, and competitiveness.
“Discussed was the outlook for manufacturing in Canada and Ontario in light of the new USMCA, lingering U.S. trade policy concerns, rising interest rates and a weak Canadian dollar,” said Guatieri. “The outlook is constructive, though there are challenges, including maintaining competitiveness.”
Caruso spoke about the Global Trade Advisory. Topics covered included impact of USMCA, when we can see the deal being ratified, clauses included, automotive rules of origin, dispute settlement, supply management, and more. He also spoke about the steel, aluminum and other tariffs, as well as retaliatory tariffs.
Seminars are also set to take place on November 27 at the Fogolar Furlan Club in Windsor, and November 28 at the Sandvik Coromant in Mississauga. For more information about upcoming events, visit: www.CTMA.com.