Climate change, trade and competitiveness

The specific focus was on the trade and competitiveness implications of current and emerging national and sub-national climate policies in Canada and the United States. [...] Participants reported that the key to achieving the greatest greenhouse gas (GHG) reductions at the lowest possible cost is for the price signal to cover as much of the economy as possible. [...] The fifth and sixth sections summarize presentations and discussion on current and emerging climate strategies in Canada and the United States, and the trade and competitiveness implications of these strategies. [...] The United States is the recipient of over 80 percent of Canadian exports and the source of about 55 percent of Canadian imports.1 The upshot: act too aggressively in reducing GHG emissions and Canada risks putting its industrial base at a competitive disadvantage vis-à-vis the United States; act 1 Department of Foreign Affairs and International Trade (2007). [...] Stewart suggested that the WCI is laying the foundation for the federal approach that will emerge in the United States following the presidential election in November 2008.