Over the past year, Albertans and Canadians have experienced the fragile nature of global supply chains, as international conflicts and trade disputes – from the closure of the Strait of Hormuz to U.S. and Chinese tariffs – have created widespread economic consequences. New data underscores the scale of concern: 87 per cent of Albertans are worried about the impact of global conflicts on the Canadian economy, 82 per cent on Alberta’s economy and 78 per cent on their personal finances.
Despite these concerns, confidence in the ability of provincial and federal governments to respond effectively remains divided, with 48 per cent of Albertans expressing confidence and 45 per cent indicating a lack of confidence.
“Recent geopolitical trends highlight just how interconnected global markets are, and how vulnerable businesses and economies across the country remain to external shocks beyond their control,” says Deborah Yedlin, President & CEO at the Calgary Chamber of Commerce. “With fewer than half of Albertans expressing confidence in provincial and federal governments’ ability to mitigate these geopolitical risks, the need for an ambitious and coordinated policy agenda is clear – one that restores public confidence while addressing the growing uncertainty facing both businesses and household finances.”
To better support business, the Calgary Chamber has released Power Plays: Geopolitics and the new rules shaping business, a report examining the risks facing small businesses and key sectors – including agriculture, energy, manufacturing, aerospace and defence and technology. The report provides recommendations to ensure businesses can operate with certainity by strengthening domestic capabilities, leveraging relations with the United States and expanding export opportunities with international partners.
“While businesses and consumers are influenced by global forces, we must focus on what we can control at home to reduce exposure to geopolitical risks,” adds Yedlin. “The solution is for Alberta and Canada to continue to work together to reduce this uncertainty and provide businesses with the support they need to invest, plan and operate with confidence.”
Chamber Recommendations
Domestic
- Expedite all regulatory approvals through fast-tracked and streamlined processes.
- Promote AI adoption and digitization, especially for SMEs.
- Continue working with provinces to identify and eliminate internal trade barriers.
- Develop inland economic transportation hubs such as the Prairie Economic Gateway.
United States
- Advance tariff-free market access across North America, including reinstating the de minimis threshold for SMEs.
- Advance reciprocal credential recognition frameworks with the U.S. and Mexico.
International
- Continue to champion the development of a pipeline to the west coast.
- Improve businesses access to markets through robust supply chains and trade infrastructure.
- Expand infrastructure to support access to marine ports, inland ports and airports.
Quick Facts
- As the energy capital of Canada, Calgary is the most exposed Canadian city to U.S. trade disruptions, with more than 60 per cent of its GDP, or $114 billion, tied to exports destined for the U.S. (Oxford Economics).
- 87 per cent of Albertans are concerned that international conflicts and trade disruptions between countries could impact Canada’s economy (Calgary Chamber of Commerce).
- 82 per cent are concerned about the impact to Alberta’s economy.
- 78 per cent are concerned about the impact on their personal finances.
- 48 per cent of Albertans are confident that both federal and provincial governments can effectively respond to changes in international trade, such as tariffs or trade disputes; 45 per cent are not confident and 7 per cent don’t know (Calgary Chamber of Commerce).
- 91 per cent of Albertans believe that federal and provincial governments should prioritize improving economic relations within Canada, such as reducing trade barriers and increasing labour mobility (Calgary Chamber of Commerce).
- 88 per cent believe priority should be given to expanding trade with international partners outside the United States.
- 71 per cent believe priority should be given to improving relations with the United States.
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About the Calgary Chamber of Commerce
The Calgary Chamber exists to empower our business community to advance a prosperous Calgary and Canada. As the convenor and catalyst for a vibrant, inclusive and prosperous business community, the Chamber works to build strength and resilience among its members and position Calgary as a magnet for talent, diversification and opportunity. As an independent, non-profit, non-partisan organization founded in 1891, we build on our history to serve and advocate for businesses of all sizes, in all sectors across the city.
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