Dear CERC Members, 

Earlier today, the U.S. administration enacted new trade tariffs that took effect shortly after midnight on March 4, 2025. In response, the Canadian government has implemented retaliatory tariffs, which are now also in force. 

These measures bring unnecessary hardship to individuals and businesses on both sides of the border. As we have consistently emphasized, seamless trade and talent mobility are vital to the prosperity of our interconnected economies. Yet, this latest development introduces uncertainty and casts a shadow over the strong partnership between two of the world's closest allies. 

We remain hopeful that collective pressure from businesses, policymakers, and global stakeholders will help realign priorities and restore a path toward shared growth.

Please read the full member bulletin here.