Just weeks after Canada’s counter-tariffs on $27.6 billion in U.S. imports take effect, following the breakdown of Canada–United States trade negotiations and the imposition of new U.S. tariffs on Canadian goods, it is time to reflect. Canada is entering a consequential period for its trading relationship with the United States—one that calls for a clear-eyed assessment of the country’s economic interests, resilience, and future direction. Canada’s countermeasures, which take effect September 8, are designed to match U.S. tariff levels across affected products. The future of Canada’s trading relationship with its largest partner is now at the centre of the national conversation. Canadian business leaders who depend on this relationship are preparing for the impact of new 50 percent U.S. tariffs affecting key Canadian sectors and products. As a result, business leaders and Canadians alike are focused on what these changes will mean for competitiveness, investment, energy security, supply chains, and long-term economic growth—as well as the immediate pressures facing workers, businesses, and communities. This moment also reinforces the importance of strengthening Canada at home and abroad: reducing internal trade barriers, securing strategic supply chains, supporting Canadian industry, and expanding international trade relationships rooted in fair, open, and rules-based commerce. While the Canada–U.S. relationship remains vital, Canada’s long-term prosperity depends on the capacity to defend its interests, diversify its economic reach, and compete with confidence in a changing global economy. On October 5, the Empire Club of Canada, in partnership with the American Chamber of Commerce in Canada (AMCHAM), will convene this timely conversation on the future of trade among Canada, the United States, and Mexico—and on the practical paths toward restoring stability and predictability for businesses on both sides of the border. Bringing together experts from all three countries, this discussion will examine the way forward, the implications of the current dispute, and how Canadian businesses can prepare. Please join The Empire Club of Canada for this high-impact panel discussion featuring David MacNaughton, Canadian Ambassador to the United States (2016-2019), Chairman of Therme Ventures and Strategic Advisor in CIBC’s Office of the CEO; Sergio Gómez Lora, Mexico’s Business Coordinating Council (CCE), U.S. Representative Office; and Dan Ujczo, Associate General Counsel, Cenovus Energy, and AMCHAM Board Member. The panel will be moderated by Hannah Thibedeau, Executive Communications Officer, Global Public Affairs, and award-winning veteran journalist. The event will kick off with a brief presentation from Dr. David Colleto, Founder Chair, and CEO Abacus Data, on the views of American and Canadians regarding the U.S. — Canada relationship, and contextual remarks from Christopher Sands, Director of the Center for U.S.-Canada Studies at Johns Hopkins University’s School of Advanced International Studies. Hear from leading experts on Canada’s approach to CUSMA, the future of North American economic cooperation, and the choices that will determine whether Canada is positioned to protect its interests, seize new opportunities, and maximize its long-term success.