00:00Many of these sectors had been hit by tariffs in the past, particularly during the first mandate of President Trump.
00:08Following the end of the negotiation, we are now in the second chapter of the trade war,
00:15and 700 different products are being targeted by the administration for tariffs.
00:22Of course, thank you, Mark, for hosting us here.
00:27It's a pleasure to be here at Trent, and Mr. Mayor, Jeff, thank you for the kind introduction.
00:34I know you have a lot of, also, experience when it comes to agri-food, to say the least.
00:41So, here at Trent Farm Research Centre, researchers, students, and industry partners are turning research into practical solutions for Canadian
00:49farmers and food businesses.
00:51And they're testing new technologies, developing new approaches, and helping shape the future of Canada's food system.
00:58And this is exactly why we're here today, because cost of food is increasing, and Canadians are facing difficult choices
01:06at the grocery store.
01:08And that's why we launched the National Food Strategy, because at the core of this strategy, it's about more choice,
01:16more control, and more Canada.
01:18And ensuring more food Canadians eat is grown, processed, and prepared right here at home.
01:26So, to do that, Canadian food businesses are being asked to produce more, compete more, and adapt faster than ever
01:33before.
01:34So, of course, meeting those challenges requires investments and a willingness to move ideas from the lab to the test
01:41field, and also to the drawing board, into the marketplace.
01:46And so, what better place than Peterborough, and being with Emma, to announce great news about our food sector today?
01:53And so, I'm pleased to announce a $50 million investment in the Canadian Food Innovation Network.
02:00That's a lot of money.
02:01It will help more than 200 businesses modernize their operations and bring new ideas to the market.
02:10It will also attract more than $200 million in follow-up investments, and create approximately 300 new jobs, and also
02:19support 450 existing jobs across the country,
02:23and really position Canada as a leader in food innovation.
02:27So, let me say this in French.
02:30So, I have the pleasure of announcing $50 million for the agroalimentary Canadian Food Innovation Network.
02:36It will help us to help 200 businesses modernize their operations and to put in the market new ideas.
02:42It will also be able to attract $200 million investment in about $200 million in creating 300 new jobs and
02:51support 450 jobs across the country.
02:58So, the Canadian Food Innovation Network helps everyone along the value chain to prosper by stimulating innovation and productivity.
03:07And Peterborough is a wonderful setting to remind us of where food sovereignty starts.
03:13Whether it's a family-owned processor, reducing waste through smart manufacturing systems, or a growing company using automation to expand
03:22production.
03:23So, this funding will help businesses modernize their operations, scale their growth, and create new opportunities for workers and communities.
03:31And at a time where we're facing a trade war, and American terrorists are really affecting a lot of our
03:38agro-food businesses,
03:40it is important that we work together and make sure that we put our strategy and our vision into the
03:49reality of so many entrepreneurs and so many workers.
03:52So, Canada must continue building its capacity at home, so congratulations, and let's keep growing.
03:59So, two things on that.
04:01First, when you look at the first chapter of the trade war, what I call the first chapter is before
04:07Prime Minister Carney left the table at the end of August,
04:13because it was a very serious because it was a really bad deal that was offered to us by the
04:19Americans,
04:22the tariffs were hitting industries such as steel, aluminum, auto, and forestry.
04:29And many of these sectors had been hit by tariffs in the past, particularly during the first mandate of President
04:36Trump.
04:37Following the end of the negotiation, we are now in the second chapter of the trade war,
04:45and 700 different products are being targeted by the administration for tariffs, including the agro-food sector.
04:56Many businesses are impacted by 25% tariffs, and sometimes even more, depending on how you calculate, and that's a
05:05real issue.
05:06So, for us, we know that some of our agro-food sector is highly dependent on the American market,
05:16and we've been there to support them.
05:18But also, we want to make sure that we help them diversify, we help them enter new markets,
05:25and that's our job and my job, because my job is to offer support measures through FedDev Ontario,
05:34through the BDC, and really being able to help these businesses have access to capital,
05:42have access to liquidity, to keep their operations going, keep their employees,
05:47but at the same time, to help them, like I was saying, pivot, going to new markets, developing new products.
05:52The other thing is, many of our agro-food businesses have been impacted by the tariffs, not on them, but
06:02on steel-aluminum,
06:03including linked to packaging, you know, including for aluminum cans or steel cans, and that's really a problem.
06:12And so, the tariffs on aluminum and steel are at 50%.
06:16So, that's why we want to continue to not only protect our steel plants, protect our aluminum plants,
06:25but also being able to have clear plants here in Canada making aluminum cans, making steel cans,
06:36because that's an industrial capacity we didn't have in the past.
06:42And I've been working a lot with the Ontario government to land these different plants across Ontario and also across
06:49the country.
06:50And so, we think that in due time, that will help.
06:53And then finally comes in the national food strategy, which is to address the affordability issue
06:59when Canadians go at the grocery store and it's extremely expensive,
07:03and at the same time, to be able to have greater food made in Canada.
07:08So, it's a question of food sovereignty.
07:10And so, you can see that there's many different pieces to your question.
07:15It was a very relevant question.
07:17Thank you for asking it.
07:18But also, that's the entire strategy of the government.
07:21All right. Thank you.
07:26Hi, Mark Woodhouse, Global News.
07:28I've got a question for my colleagues in Ottawa.
07:32Minister, you say that Stelco has broken its commitments, but the company is proceeding with layoffs.
07:38What specifically needs to happen before you take legal action, if that is on the horizon?
07:44So, I answered that question yesterday.
07:46I said, indeed, that it is our opinion that the commitments by Stelco under the Investment Canada Act are broken.
07:55And in that sense, we don't think that any market conditions or a different business plan can explain the behavior
08:10of Stelco.
08:13The CEO has been clear.
08:15He has been advocating for the imposition of U.S. tariffs on steel and steel makers here in Canada.
08:22So, we're reviewing this deal, the Stelco letter that was sent to us.
08:28I also said that a few possible options of a court process would include, first, forced compliance of undertakings.
08:38Second, financial penalties.
08:41And third, and more importantly, I must say, forcing divestiture.
08:46So, forcing Stelco to sell its assets here in Canada.
08:51We've hired the best lawyers in Canada to help us to deal with that, and we will fight to keep
08:58the jobs in Hamilton, and that is the position of the government.
09:02And meanwhile, if Stelco wants to come back to the table to negotiate, I'm always open to that.
09:08Okay, and if tariffs do stay in place, just more focused on this announcement today, how much can investments like
09:15this realistically offset, and what still needs to be solved at the negotiating table?
09:20So, today's announcement, and the announcement you will hear from us when it comes to national food strategies, really to
09:28help our businesses to have access to financial support in times of unpredictability.
09:36So, it's more difficult to have access to capital.
09:39It's more difficult also just to take a decision to invest in your company.
09:43We want to counter that, how can I say, yeah, that chill.
09:50Exactly. Thank you, Daniela. That chill.
09:52We want to offer options to business owners to say, you know what?
09:57I know it's a tough world out there, but I'll invest, and I'll be ambitious, because in times of crisis,
10:05boldness is always rewarded.
10:06And so, that's exactly what we're doing today.
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