Freeland discusses global economy with provincial, territorial finance ministers | National Newswatch
TORONTO — Deputy Prime Minister and Finance Minister Chrystia Freeland said the provinces and territories need to chip in to Canada's response to the U.S.'s Inflation Reduction Act, which includes electric-vehicle incentives that favour manufacturers in Canada and Mexico, as well as the U.S.
"I cannot emphasize too strongly how much I believe that we need to seize the moment and build the clean economy of the 21st century," she said.The incentives of the Act, which were already revised to include Canada and Mexico after originally focusing on the U.S., are now facing criticism from Europe about North American protectionism.
Freeland said these pressures come at a time of a global economic slowdown which poses restraint on government spending. "We're very aware of the uncertainty in the global economy right now," said Freeland."Inflation is high and interest rates are high."
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