Protectionism is not the Answer, CCCE Head Says in Response to Attacks on Continental Free Trade

February 27, 2008

The Chief Executive and President of the Canadian Council of Chief Executives (CCCE), Thomas d’Aquino, today expressed disappointment and dismay at the intensifying attacks in the United States on the North American Free Trade Agreement (NAFTA).  A veteran advocate of continental free trade and private sector leader in advancing the Canada-United States Free Trade Agreement, Mr. d’Aquino said that anti-NAFTA rhetoric had reached disturbing levels in the contest for the United States presidency:

“I have observed many American elections and realize that in the run-up to a national vote, candidates sometimes appeal to the more extreme voices in their constituencies.  But I detect more than rhetoric at work here.  Protectionists in many cases are attacking the fundamentals of liberal economics, which have long been proven to offer the greatest benefits in terms of growth, job creation and improvements in quality of life.

“In the face of this onslaught, some of it based on fear-mongering and disinformation, the beneficiaries of open commerce — in particular, consumers, business people and political leaders — have remained complacent and mute.

“I full well understand the rising concerns in North America and in many parts of the world about the impact of globalization and the shift in manufacturing to developing countries.  Nevertheless, painful lessons in the past have taught us that protectionism is not the answer. In fact, it is now more important than ever for North Americans to work together in taking on the challenges of global competition.

“No Canadian needs to be reminded of the vital importance of the Canada-United States economic relationship.  Trade and investment liberalization between our two countries has produced huge benefits on both sides of the border.  But now this remarkable progress is endangered by a combination of forces pressing for higher security walls and economic barriers.

“The vibrant and progressive Canada-United States relationship, which has served as a model to the world, now more than ever needs allies and friends on both sides of the border to speak up in its defence.

“With this in mind, the Canadian Council of Chief Executives will build on its already extensive activities aimed at advancing North American cooperation.  This will include new initiatives aimed at marshalling support among consumer, business, academic and government leaders in both Canada and the United States.”