U.S. 'open for business' to Canadian entrepreneurs

Despite recent strains in their relationship, Canada and the United States are still “like a family,” American Ambassador Kelly Craft told an audience at the University of Calgary.

“You have to understand that you have your differences, but at the end of the day, you all come to the table,” she said as part of the Wayne Henuset Entrepreneurship Speaker Series. The event was recently hosted at the MacEwan Ballroom by the Hunter Centre for Entrepreneurship and Innovation, which is part of the Haskayne School of Business.

The event was moderated by co-speaker Wayne Henuset, president and owner of Calgary-based Willow Park Resources Ltd. He asked Craft about the potential for Canadian entrepreneurs under the U.S.-Mexico-Canada Agreement (USMCA), which will replace the existing North American Free Trade Agreement (NAFTA).

'We are open for business'

Craft said one of the most important aspects of the new deal is that it will not only provide stability and clarity for Canadian investors in the U.S., it will also complement American President Donald Trump’s efforts to streamline regulations so that businesses can thrive.

“The president is very insistent that he wants people to invest in the United States — that we are open for business,” she told an audience of more than 220 people ranging from entrepreneurs to Haskayne students and professors.

Calling Canadians “fierce negotiators,” Craft said much of Trump’s tweets and interviews about Canada during the trade talks were intended to “challenge people” to get their reaction, sharpening the skills of both sides as they reached the best deal. “If you play tennis, you want to play with someone who is better than you are so that you can improve your game,” said Craft.

The agreement must be ratified by Nov. 30 by the legislatures of the U.S., Canada and Mexico. Craft said the oil and gas industry in particular will be a “big winner” under the deal, with Trump aiming to make “North America energy independent.”

Craft did not say when U.S. tariffs on Canadian aluminum and steel might be lifted, which was a hope of the successful conclusion of trade negotiations. “I can tell you that it is an ongoing discussion, that first and foremost, Donald Trump cares about the security and safety of the United States, as does Prime Minister (Justin) Trudeau when it comes to the steel industry within Canada,” she said.

'Tension' at U.S. border

In the wake of the legalization of marijuana in Canada, Calgary-based investor and ex-Dragon’s Den member W. Brett Wilson told Craft “there is an escalating level of tension” at the U.S. border for everyone from cannabis entrepreneurs, workers and users to bankers. A Canadian investor travelling to Las Vegas to attend a cannabis conference recently received a lifetime U.S. entry ban.

Despite widely varying circumstances, Wilson feared thousands of Canadians will be painted with “one intake brush.” Both U.S. Secretary of Homeland Security Kirstjen Nielsen and Canadian Minister of Public Safety Ralph Goodale have been working since July on the issue, said Craft, who did not say when it might be resolved.

Each situation is different and U.S. border agents will respond to the differences. As Ambassador Craft says, “Canadian laws have changed, but U.S. laws have not. And privacy considerations prevent us from commenting on individual situations.”