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October 26, 2020

Canadian-U.S. Border Will Stay Shut, But It Will Be Costly

As National Public Radio reported, last week Bill Blair, Canada’s public safety minister, said his country would continue non-essential travel restrictions with the United States until November 21, 2020.

While these restrictions do not impact trade between the two countries, according to Statistics Canada, the rules still have been costly and have impacted more than the tourism industry.

As Bloomberg explained, last week Statistics Canada released a report that said travel restrictions imposed to slow the spread of coronavirus will cost the country between 400,000 and 500,000 jobs in 2020 and will shave off as much as C$37.1 billion (1.7 percent) from total economic output this year. While the impact of the travel restrictions have been felt most acutely in the hospitality and tourism industries, Statistics Canada said the strict rules “could also have a much broader impact on the Canadian economy because of the interdependency between the tourism industry and other industries.”

Click here to read Statistics Canada’s full report.