Economic nationalism is on the rise today. Its resurgence comes against the backdrop of a Canadian election that seeks to grapple with the dual crises of a stagnant Canadian economy and the economic threats from President Trump’s tariffs. Party leaders are already turning to the nationalism toolkit in an attempt to woo voters. Just last week, Conservative leader Pierre Poilievre stated his support for the costly supply management program, while Liberal leader Mark Carney announced his intention to build an ”All-In-Canada” auto manufacturing network. The party leaders join a growing chorus of prominent Canadians who believe that public policy needs to make Canada more “self-reliant.”
The challenge for supporters of economic nationalism is that history tells us that such policies will not produce the economic growth that Canada needs. Instead, the analysis in this DeepDive shows that embracing economic nationalism will only make us poorer. If policymakers are serious about righting Canada’s growth trajectory, then a policy path of economic openness is the correct choice.