FOR IMMEDIATE RELEASE
September 5, 2016
Barrie, ON – Official Opposition Critic for economic development in Southern Ontario, Alex Nuttall, is calling on the Liberal Government not to recognize China as a market economy, a move which would make it harder to limit illegal Chinese imports into Canada.
According to the Canadian Steel Producers Association, granting China market economy status could cost Canada 60,000 manufacturing jobs, $9.1 billion in GDP and $1.2 billion in federal tax revenues.
“Conservatives understand how important it is for Canadian companies to have access to new global and domestic markets,” said Nuttall. “However, it is also important to make sure that any government decision does not negatively impact Canadian businesses here at home.”
Earlier this week, Canadian Manufacturers and Exporters President and CEO, Jayson Myers, sent an open letter to the Prime Minister expressing concern that the Liberal government may move to recognize China as a market economy.
China has been demanding that its trading partners grant such status by the end of 2016, despite failing to implement the necessary liberalization reforms that are prerequisites. The United States and the European Union have already signaled their opposition to this request, but the Liberals have remained silent.
“The Liberals have explicitly stated that they want Ontario to transition away from a manufacturing based economy. With higher-taxes and ballooning energy costs, Canadian manufacturers can’t take another hit,” said Nuttall.
“Instead of raising taxes and taking actions that put Canadian companies at a competitive disadvantage, the Liberals must support policies that allow the private sector to create jobs and grow the Canadian economy,” concluded Nuttall.
Source: News feed