Thank you, Mr. Speaker. Mr. Speaker, the NWT is in a vulnerable position because of the national and global tensions. One example is the US tariffs and the resulting trade disputes. The NWT imports more than it exports, so we are more vulnerable to the increasing costs of things we buy every day.
Mr. Speaker, there are a lot of negative economic impacts on the horizon. I'd rather focus on the positives.
The Minister of Industry, Tourism and Investment recently took part in discussions to reform provincial and territorial trade barriers when the committee on internal trade, or CIT, met in Toronto last week. If CIT achieves its objectives, it will be easier to do business in Canada and grow the domestic economy. What will this mean for the territory?
Mr. Speaker, the political landscape is shifting daily with that's recent economic changes. I echo what my colleague from Boot Lake has said: The NWT is resource rich and cash poor. Talks on tariffs imposition has created uncertainty and, more importantly, questions about sustainability. How can the NWT reposition itself as a supplier of critical minerals to the rest of Canada? How can the territory be a leader in refining, production, and mineral processing?
Mr. Speaker, there is no question that the NWT needs federal funding to advance an infrastructure agenda. We have heard that the federal Arctic foreign policy may lead to increased defence spending and access to capital. However, we might see a more immediate economic impact by creating additional resource revenues and retaining devolution benefits. I will have questions to the Minister of ITI later. Mahsi, Mr. Speaker.
Thank you, Member from the Sahtu. Members' statements. Member from Mackenzie Delta.
