Interprovincial trade barriers across more than 230 sectors impose costs equivalent to a 9.5 per cent tariff on the Canadian economy, a figure which pales in comparison to the average US tariff rate.
Interprovincial trade barriers bring a heavier economic burden than anything posed by the U.S., according to a new report by the Toronto Region Board of Trade, which is calling for immediate action from the Carney government and the provinces.
The Patchwork to Prosperity report says that incremental reform is no longer enough and that Canada requires a “strong process with a clear national vision for a single Canadian market.”
