Carney launches new Advisory Committee on Canada-U.S. economic relations
Canada-U.S. economic relations committee signals new advisory transition
OTTAWA — Prime Minister Mark Carney has announced the creation of a new Advisory Committee on Canada-U.S. Economic Relations, as Canada prepares for a key review of its trade agreement with the United States and Mexico.
The committee will bring together leaders from business, labour, and industry to provide strategic advice on Canada’s most important bilateral economic relationship.
Transition to a new advisory structure
The new committee follows the work of the former Council on Canada-U.S. Relations, signalling a transition to a new advisory structure as Canada positions itself for upcoming trade discussions.
According to the Prime Minister’s Office, the move is intended to strengthen engagement with key economic sectors and ensure the federal government draws on a broad range of expertise.
Strengthening a critical economic partnership
Canada’s economic relationship with the United States remains central to national growth and competitiveness. The federal government notes that approximately 85% of Canada’s trade with the U.S. remains tariff-free, maintaining one of the lowest average tariff rates globally.
In 2024, Canada and the United States exchanged nearly $3.6 billion in goods and services daily, highlighting the scale of cross-border economic activity.
Committee to guide strategy
The Advisory Committee will be chaired by Dominic LeBlanc, President of the King’s Privy Council and Minister responsible for Canada-U.S. Trade.
Members include leaders from across sectors such as finance, manufacturing, labour, and investment, including Jean Charest, Erin O’Toole, Tabatha Bull, and Flavio Volpe.
The committee is scheduled to hold its first meeting on April 27, 2026.
Focus on upcoming CUSMA review
The announcement comes ahead of the CUSMA Joint Review, set for July 1, 2026. The agreement, which came into force in 2020, governs trade between Canada, the United States, and Mexico.
Since its implementation, Canada-U.S. trade has increased by more than 27%, or $196 billion, according to federal data.
The review process will determine whether the agreement will be extended beyond its current 2036 expiry date.
North American economic scale
Canada, the United States, and Mexico together represent a market of 517 million consumers with a combined GDP of $48.8 trillion, making it one of the most significant economic regions in the world.
Officials say the new Advisory Committee will help ensure Canada remains competitive and well-positioned within this integrated North American economy.
Source: Prime Minister’s Office (pm.gc.ca)
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