‘Trade is under attack,’ Macklem says. Here’s what he urges Canada must do

Canada’s economic prosperity depends on trade, and that trade is “under attack,” Bank of Canada governor Tiff Macklem said on Tuesday.

“Canada is a trading nation,” Macklem said in a copy of his speech to the Saskatchewan Trade and Export Partnership and the Greater Saskatoon Chamber of Commerce that was posted by the central bank.

He noted in the remarks that Canada depends on exports for one-third of its income.

“Unfortunately, trade is under attack,” he said.

Macklem’s speech identified several megatrends currently shaping the trade and economic landscape globally, while identifying threats to the global economy and to Canada directly.

He also spoke about several specific policy measures that are currently under discussion by political leaders in Ottawa and the provinces, say