Economic uncertainty and American protectionism scare the Quebec government so much that the prime minister wants Canada to join Buy American Act and with it the economic barriers with the United States fall.
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“We want Canada to be part of the Buy American Act. We have standards, both labor and environmental, that are similar to those of the United States. So unlike Mexico, we would like that,” said François Legault as he left Question Time on Thursday.
The Buy American Act may require the US government to purchase goods manufactured in the United States.
Protect specific sectors
Business Secretary Pierre Fitzgibbon admits he fears this American protectionism at this time of economic uncertainty.
He is working with Ottawa to create a Canadian Buy American Act that would affect certain sectors.
“Yes, I am concerned about the system,” Minister Pierre Fitzgibbon said. “I’ve always feared the BAA [Buy American Act] because Americans have strong measures to attract investment. »
Build on our strengths
Mr. Fitzgibbon noted that he has had many discussions with his federal counterparts to find comparable specific measures.
“We have had many discussions with the Treasury of Mr. Champagne and Mrs. Freeland, so that we can get support for certain projects that would be quite comparable to the [Buy American Act] ‘ he stressed, believing that Quebec ‘is able to play its cards on certain projects. »
According to the minister, Quebec can resist the Americans and be competitive thanks to its battery sector to attract investment.
“If people want green energy, we’re the only ones. At some point, people will have to accept that access to renewable energy costs a premium,” he forcefully emphasized, arguing that there are benefits to investing in Quebec.
“Quebec is still very attractive at the university level, at the level of our innovation hubs. »
Money is not the only factor
He says money isn’t the only reason companies settle in any given place.
“If they only come here for the money, then it’s the wrong reason,” he said.
According to him, there are many economic sectors where Quebec excels, especially innovation zones like Bécancour and its battery industry.