Today, in Washington, D.C., the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, co-chaired a productive meeting of the joint Canada-U.S. Energy Transformation Task Force, with the Senior Advisor to the President for Energy and Investment, Amos J. Hochstein. They were joined by the Minister of Energy and Natural Resources, Jonathan Wilkinson. This meeting was an opportunity to further shared work to create good jobs, build an economy that works for the middle class, and fight climate change.
In today's meeting, the Deputy Prime Minister and the Minister of Energy and Natural Resourcesunderscored Canada and the United States' shared interest in working together to accelerate the sustainable development of North American mineral deposits. As a country with significant mining resources and expertise, Canada, in cooperation with Indigenous Peoples, has already taken several actions to secure and grow the critical mineral resources that are essential to shared Canada-U.S. supply chains and for the prosperity of local and Indigenous communities. Actions include a $3.8 billion investment to implement Canada's Critical Minerals Strategy, $11 billion for the Clean Technology Manufacturing Investment Tax Credit, and expanding the Mineral Exploration Tax Credit to support investment in critical mineral projects. These initiatives will work to support a clean economy, including the production of electric vehicles and batteries.
The Deputy Prime Minister and the Minister of Energy and Natural Resources restated that Canada and the United States have a shared interest in collaborating to secure nuclear fuel supply chains and capacity, particularly for specialized forms of uranium such as High-Assay Low-Enriched Uranium, to power advanced and small modular reactors that are expected to play an important role in our clean energy transition.
The Deputy Prime Minister and the Minister of Energy and Natural Resources also emphasized the importance of promoting integrated North American approaches to trade in green steel and aluminum.
Finally, the Deputy Prime Minister and the Minister of Energy and Natural Resources noted the importance of securing our critical supply chains and advancing energy security, while reducing the risk of overreliance on non-likeminded partners.
The meeting reaffirmed Canada and the United States' alignment on the mandate of the Energy Task Force. The Deputy Prime Minister, the Minister of Energy and Natural Resources, and the Senior Advisor to the President agreed to continue working together to create good-paying jobs for our workers, new opportunities for our businesses, and to make both the Canadian and American economies more secure and more resilient.
Quick Facts
- The Energy Transformation Task Force was announced by Prime Minister Justin Trudeau and U.S. President Joe Biden on March 24, 2023, as a one-year joint initiative to catalyze clean energy and create good jobs on both sides of our border. The first meeting of the Task Force was held on May 2, 2023.
- The Task Force seeks to ensure that investments in our clean economies create opportunities for workers and businesses on both sides of the border, while strengthening and securing our critical supply chains and advancing energy security.
