Newsletter - Jan 28, 2025
The global landscape is changing quickly, creating uncertainty for economies, businesses, and workers around the world. In response, Canada’s new government is focused on what we can control: strengthening our economy at home while building new trade and investment partnerships abroad, with the goal of making life more affordable for Canadians and creating good career opportunities with higher wages.
After productive travels to China, Qatar, and Switzerland, the House of Commons resumed sitting on January 26, and I have returned to Ottawa to continue this important work on behalf of our community.
This work is about moving Canada’s economy from reliance to resilience. While some of the long-term benefits will take time to fully materialize, our new government is also taking steps to ensure Canadians receive support now. Recent measures include cutting taxes for 22 million Canadians, accelerating homebuilding, and protecting and expanding vital social programs.
To build on this progress, new actions have been introduced to help bring down the cost of groceries and other essentials. The Canada Groceries and Essentials Benefit, formerly the GST Credit, will increase by 25 percent for five years beginning in July 2026. In addition, a one-time payment equivalent to a 50 percent increase will be provided this year. Combined, this means a family of four could receive up to $1,890 this year and about $1,400 annually for the following four years, while a single person could receive up to $950 this year and about $700 annually for the next four years. More than 12 million Canadians are expected to benefit from this support.
Our new government is also taking steps to tackle food insecurity and strengthen supply chains. This includes setting aside $500 million from the Strategic Response Fund to help businesses manage supply chain disruptions without passing costs on to consumers, creating a $150 million Food Security Fund to support small and medium-sized enterprises, and providing $20 million to the Local Food Infrastructure Fund to assist food banks and community organizations. Work is also underway on a National Food Security Strategy to strengthen domestic food production and improve access to affordable, nutritious food.
At the same time, Canada is working to diversify trade and investment relationships to reduce reliance on any single market. Recent engagement with international partners reflects a broader effort to expand export opportunities, attract investment, and strengthen key sectors such as clean energy, agri-food, advanced manufacturing, and technology.
Canada is advancing new trade opportunities through a Team Canada Trade Mission to South Korea from March 30 to April 2, 2026, led by Minister of International Trade Maninder Sidhu. Building on the Canada Korea Free Trade Agreement, the mission will support Canadian businesses, including small and medium sized companies in Oakville East, looking to expand into one of Asia’s most advanced markets. The focus will be on sectors such as clean energy, aerospace, technology, and life sciences, with applications open until February 13, 2026 and early applications encouraged by February 6. Click here for more information.
Together, these efforts reflect a focus on building a stronger, more independent, and more resilient Canadian economy, while easing cost pressures for Canadians today and creating greater certainty and opportunity for the future.
Highlights
Visit to China
During this visit with Prime Minister Mark Carney, we forged a new Canada-China strategic partnership — opening billions in trade, cutting tariffs on key Canadian exports, and making big gains for Canadian workers.
Visit to Qatar
Earlier in the month, we concluded the first visit to Qatar by a sitting Canadian Prime Minister. Qatar committed to significant investments in Canada’s major infrastructure and we signed agreements to strengthen collaboration in AI, technology, and defence. By continuing to diversify our trade and economic relationships, we are building Canada strong.
The World Economic Forum
Last week, I concluded a productive set of meetings at the World Economic Forum in Davos to advance Canada’s principled and pragmatic foreign policy. Click here to watch or read Prime Minister Carney's full speech from the forum.
India’s Republic Day Celebration
Earlier this week, I joined caucus colleagues and members of the Indian community to celebrate India’s Republic Day. This occasion was a reminder of the deep people-to-people ties that connect Canada and India. Thank you to the High Commissioner of India in Ottawa for hosting this evening!
