Champagne moves to block ‘predatory’ investments amid tariff war

OTTAWA — Canada’s industry minister is looking to block “predatory investment behaviour” amid a trade war with the United States.

François-Philippe Champagne says Canadian businesses could be at risk if foreign investors swoop in to take advantage at a time when business valuations could struggle thanks to sweeping tariffs from the U.S.

Read More:

• Trump affirms tariff plan in front of Congress
• New vehicle prices set to rise almost instantly in Sask. as a result of tariffs
• How Canada’s governments are fighting back against Trump’s tariffs

He says if critically important firms are compromised it could jeopardize Canada’s economic security.

Champagne is updating the Investment Canada Act so economic security is a factor when deciding if a deal can go ahead.

He says this will allow Canada to reject foreign investments that could harm the Canadian economy or workers.

The move comes one day after the U.S. imposed 25 per cent tariffs on most Canadian goods with a reduced levy on energy exports, prompting a wave of retaliatory tariffs from Canada.

This report by The Canadian Press was first published March 5, 2025.

Craig Lord, The Canadian Press