The Calgary Chamber of Commerce said they hoped the federal government would prioritize support for small and medium-sized businesses in the wake of a collapsed Canada-US trade deal.

On Friday, despite US President Donald Trump virtually assuring a deal, ongoing trade talks ended, and the US slapped a 50 per cent tariff on roughly $28 billion worth of Canadian goods.

It escalates a trade dispute that’s been going on for nearly two years.

“We have recognised from the beginning that America has changed, and that we will not return to our old relationship. Our government understood, before many, that America is altering all its trade relationships. Putting tariffs on its closest allies and charging for access to its vast market,” PM Mark Carney said in a statement.

“We have worked in that context. To strike a fair deal that would provide the best access to the U.S. market and greater certainty to Canadian businesses and workers. Throughout, our goal has been to secure the best deal for Canadians, never a deal at any price or on any deadline.”

PM Carney said Friday that Canada had made progress toward improving Canada’s position towards the best deal in the world with the US.

“However, that progress has not been enough to meet our objectives for Canadians. As a result, this evening, I have decided to suspend trade negotiations with the U.S. and have directed Canada’s negotiators to return to Ottawa,” he said.

“They have worked hard, in good faith, to defend the interests of Canadians throughout these negotiations up until the very last minute. However, last-minute changes in the U.S. proposed terms were unfair, uneconomic, and called into question the reliability of any deal.”

Global News story on the three issues that sank Canada-US trade talks.

Calgary chamber concerned, but approves of firm stance

Calgary Chamber of Commerce president and CEO Deborah Yedlin said Saturday that the trade negotiations over the past week underscored the importance of bolstering the domestic economy and the pursuit of trade opportunities within Canada.

“While the Calgary Chamber is concerned about the follow-on effects of the deterioration of negotiations between Canada and the United States, we stand firm that no deal is better than a bad deal,” she said.

“We are encouraged by Canada’s unwavering commitment to our sovereignty, trade opportunities, and economic competitiveness.”

Yedlin acknowledged that the new US tariffs and the retaliatory ones from Canada will impact nearly 100,000 workers across Canada. She said even more Canadian products will be exposed to the added cost.

“In light of this, we encourage the federal government to prioritize small and medium-sized enterprises in particular, including through short-term relief programs for businesses and workers such as increased support for the Regional Tariff Response Initiative,” she said.

“Over the next two weeks, we encourage the federal government to closely consult provinces and businesses to minimize the unintended consequences of retaliatory tariffs.”

Late Friday evening, Alberta Premier Danielle Smith posted to social media that she was “deeply disappointed” that Canada and the US couldn’t reach a trade agreement.

“Alberta has always advocated for a tariff-free relationship, and will continue to do so. No one benefits from a trade war,” she wrote.  

“Tariffs and counter-tariffs hurt businesses, workers and families on both sides of the border, while weakening one of the most important economic and security relationships in the world.”

Premier Smith said she welcomed the federal government’s intention to provide relief to impacted businesses.

Yedlin remained upbeat about the potential Canada has to reach international markets.

“Our Canadian bench strength and unity continue to open doors around the world, and with trade agreements and partnerships covering 60% of Canada’s GDP, we have no shortage of opportunity for our industries, businesses and workers,” she said.  

“It is vital that we continue to stand as a united front and strengthen our economy at home while pursuing opportunities abroad.”