On November 27th, Edmonton Global hosted a virtual briefing to explore how the recent U.S. elections could impact the Edmonton Metropolitan Region’s economic landscape, trade relations, and investment opportunities. With insights from experts and a dynamic panel discussion, the session highlighted strategies for navigating these changes effectively.
As part of the event, James Rajotte, Alberta’s senior representative to the U.S., provided a comprehensive overview of the political and economic shifts south of the border.
The briefing featured a panel that shared insights on the implications for the Region and Alberta:
Dr. Robert Murray, PhD – Interim Vice-President, Planning and University Relations, Concordia University of Edmonton. With a PhD in Political Science and extensive experience in public policy and economic development, Dr. Murray brought a wealth of knowledge on navigating complex geopolitical landscapes.
Mark Parsons – VP & Chief Economist, ATB Financial. As an experienced economist with a deep understanding of Alberta’s economy, Mark provided critical insights into trade and economic resilience.
Dr. Greg Anderson, PhD – Professor, Political Science, University of Alberta. Dr. Anderson’s expertise in the political economy of North American integration and Canada-U.S. relations added valuable perspectives on trade and innovation strategies.
1. U.S. Election Outcomes and Economic Implications
James Rajotte highlighted the Republican sweep of the presidency, Senate, and House of Representatives and its implications for Alberta. He discussed proposed policies, including potential shifts in tariffs, energy policy, and border management. Rajotte emphasized the importance of Alberta engaging proactively with U.S. leaders to navigate these challenges and opportunities.
2. Trade and Tariffs: Risks and Responses
With 90% of Alberta’s exports destined for the U.S., the panel addressed concerns over proposed tariffs, such as a 25% levy on Canadian imports. Mark Parsons underscored the importance of strong advocacy efforts and the integrated nature of U.S.-Canada trade:
“We send 90% of our exports to the U.S., so it’s absolutely critical to strengthen that trading relationship.”
Despite challenges, the panel expressed optimism about Alberta’s resilience and the potential to bolster bilateral relations.
3. Energy and Hydrogen Opportunities
The discussion turned to Alberta’s leadership in clean energy and hydrogen development. Rajotte highlighted the Edmonton Region’s potential to attract global investment, even amid uncertainties surrounding the U.S. Inflation Reduction Act. The panel emphasized the need for a strong value proposition in emerging sectors.
4. Diversification and Collaboration
Diversification emerged as a vital strategy for reducing Alberta’s reliance on the U.S. market. Panelists urged fostering collaboration to explore new markets and leverage Alberta’s strengths in agriculture, defense, and technology.
5. One-Team Approach
The panel underscored the importance of presenting a unified front across local, provincial, and national levels. As Dr. Murray noted, internal cohesion is essential for maintaining credibility with international partners:
“Collaboration is critical—acting as one team is how we can amplify Alberta’s strengths on the global stage.”
From building strong cross-border relationships to advancing diversification and innovation, the Edmonton Metropolitan Region has significant opportunities to thrive amidst global political shifts. By fostering collaboration and leveraging Alberta’s strengths, the region is well-positioned to navigate these changes effectively.
“We’re in good position for what we’re trying to do right now and I think certainly as Alberta and the Edmonton Region there’s going to be some really great opportunities coming out of this as long as we play our cards right and act as one team and really approach this in a holistic strategic way” – Dr. Robert Murray
Watch the full recording here: https://www.youtube.com/watch?v=AgObkK_KIkE&t=2761s
