Ontario Construction News staff writer
Premier Doug Ford is heading to Washington for meetings aimed at boosting investment and job creation.
Vic Fedeli, Minister of Economic Development, Job Creation and Trade, will travel to travel to the American capital with Ford, Feb. 7-9. While there, they will look to continue talks with Ohio officials on easing trade restrictions, making it easier to do business and create jobs on both sides of the border.
“Buy American policies hurt workers on both sides of the border, and that is the message I will be bringing to my colleagues in Washington. By strengthening economic ties and making it easier for businesses to work together, our government will help create opportunities for Ontario businesses to bring their products and their expertise to markets in the United States,” said Ford.
Ford and Fedeli will also meet with key American partners, including state governors. Discussions will centre on removing trade barriers, strengthening economic ties, and creating jobs. Business leaders will join them in roundtable sessions aimed at showcasing Ontario as an investment destination.
The premier and the minister also plan to highlight Ontario’s role in infrastructure procurement. In April, Ford and Laurie Scott, Minister of Infrastructure, plan to receive an NGA Infrastructure Study Tour to Toronto, which will study best practices on modernizing infrastructure and explore infrastructure opportunities on both sides of the border.
“Our strong relationship with our neighbours to the south cannot be understated. If Ontario were a country, we would be the U.S.’s third largest trading partner. Our government is advocating for Ontario businesses as we work to increase opportunities for trade, making it easier for our job creators to succeed,” said Fedeli.
Quick facts about two-way trade:
• Ontario and the U.S. conducted about CAD$390 billion in two-way trade in 2018
- Ontario is the top trading partner with 19 states, and the 2nd largest trading partner with nine others
- The Ontario and U.S. automotive sectors are very strongly integrated. Ontario is the largest export market for both American assembled vehicles and vehicle parts. In 2018, Ontario-U.S. two-way automotive trade was CAD$134 billion
- Ontario is North America’s second largest financial services hub after New York City in terms of industry employment. Major financial institutions and insurance companies have significant operations on both sides of the border
- The U.S. and Ontario steel sectors and manufacturing supply chains are highly integrated. The U.S. accounted for 95 per cent (CAD$5.8 billion) of Ontario steel exports, while imports from the U.S. totaled CAD$4.7 billion in 2018
- About 80 per cent of Ontario chemicals exports go to the U.S., and a large portion of chemical manufacturers have connected operations across both jurisdictions.