'A serious challenge': Calgary Chamber of Commerce wary of Trump's second presidency

Calgary's business leaders say Donald Trump winning the U.S. election means a big challenge in the days ahead.

The Calgary Chamber of Commerce, in a statement on Wednesday, said Trump's policies are the primary reason for concern.

"We recognize the significant implications this administration will have for Alberta and Canada," said Deborah Yedlin, the Chamber's president and CEO.

"Trump's 'America First' agenda, which emphasizes self-reliance, deregulation and tariffs, poses a serious challenge for Canadian businesses amid our deep economic ties."

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Trump claimed victory in the U.S. presidential race on Tuesday, capturing key battleground states Pennsylvania, North Carolina and Georgia while holding leads in the other four critical states.

He went into election day with a 50-50 chance of reclaiming the White House, a remarkable turnaround from Jan. 6, 2021, when many pundits pronounced his political career to be over.

Yedlin said business leaders are concerned about what impacts a second Trump administration could have on the $3.6 billion in goods and services that cross the Canada-U.S. border each day.

"Canada's economy – especially sectors like energy, agriculture, and critical minerals – depends on U.S. markets. Trump's focus on energy independence and tariffs could put Canadian exports at a disadvantage, risking billions in revenue and threatening jobs, particularly in our vital energy sector," Yedlin said.

The chamber is calling on the federal and provincial governments to adopt a "Team Canada" approach in all upcoming negotiations with the U.S.

She says this strategy "will strengthen Canada's position as a strong and reliable partner, safeguarding our jobs and economic prosperity."

"We also call on the federal and provincial governments to accelerate the development of meaningful policies and measures aimed at increasing Canada's economic growth and productivity to minimize the potential impact of trade policies that will harm the Canadian economy."

Alberta Premier Danielle Smith congratulated Trump and vice-president-elect J.D. Vance on the election night victory in a post on X.

"Alberta and the United States have a long standing trading partnership that has strengthened both economies and improved quality of life in both jurisdictions," she wrote, hinting that the work ahead would focus on new markets for Alberta's natural resources.

"Alberta is a critical part of North American energy security as the single largest supplier of crude oil and natural gas to the United States – providing twice as twice as much as Mexico, Saudi Arabia and Iraq combined," Smith said.

She said her government looks forward to the new Trump administration to advance their partnership.

(With files from Reuters)