Conservative Leader Pierre Poilievre on Thursday called on US President Donald Trump to end his “disastrous tariff threats” against Canada while unveiling a new tax-free savings plan aimed at boosting domestic investment.
“My message to President Trump is, knock it off,” Poilievre said during a campaign stop at Apollo Sheet Metal in Coquitlam, British Columbia. “Stop attacking America’s friends. Start trading so we can once again become richer, stronger, and more secure on both sides of the border.”
Trump signed an executive order Wednesday night imposing new auto tariffs on Canada, drawing swift responses from Canadian political leaders amid the ongoing federal election campaign.
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While Liberal Leader Mark Carney returned to Ottawa for meetings with his US-Canada cabinet committee and NDP Leader Jagmeet Singh diverted to Windsor, Ontario to support autoworkers, Poilievre maintained his scheduled campaign events in British Columbia.
Poilievre announced a proposal to increase tax-free savings account contribution limits by an additional $5,000 annually, on top of the current $7,000 limit, specifically for investments in Canadian companies.
“This will bring billions of dollars of investment into Canadian companies who will then spend it on factories, equipment, tools, wages, and making our economy self-reliant and strong,” he said.
According to the Canada Revenue Agency, nearly 18 million Canadians had TFSAs in 2022, but only 1.5 million had maximized their contribution room, with Canadians averaging $46,192 in unused contribution space.
Poilievre said his government would craft a definition for banks to identify qualifying Canadian companies that support domestic jobs.
The Conservative leader also blamed policies supported by Liberal leader Carney for weakening Canada’s position against US tariffs, saying the tax system “now rewards corporate insiders that move their money out of Canada.”
NDP MP Peter Julian criticized Poilievre’s TFSA proposal, claiming it would primarily benefit wealthier Canadians. “Only about five percent of Canadians actually get to their limit in existing TFSAs and they’re the top five percent of income earners,” Julian said.
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