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ARTICLE · 06 JANUARY 2025

Canada's 2024 Fall Economic Statement Signals Significant Changes Ahead For Economic Sanctions, Modern Slavery, And AML Measures

McCarthy Tétrault
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e 2024 Fall Economic Statement (the "2024 Statement") tabled on December 16, 2024 following the resignation of the Minister of Finance, announces a number of new international trade and investment.

CanadaInternational Law
Terms Of Trade
Terms Of Trade
John Boscariol
John Boscariol
Martha Harrison
Martha Harrison
Ljiljana Stanic
Ljiljana Stanic
Cindy Zhang
Cindy Zhang
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The 2024 Fall Economic Statement (the "2024 Statement") tabled on December 16, 2024 following the resignation of the Minister of Finance, announces a number of new international trade and investment and anti-money laundering ("AML") initiatives for 2025 and 2026 but provides very few details on the specific forms these measures will take.

Their announcement appears to be aimed at demonstrating the Canada's commitment to addressing critical issues with regard to government procurement, sanctions, modern slavery, AML initiatives, export controls, and tariffs, at least in part in an effort to defuse the threats made by President-elect Donald Trump to impose a 25% tariff on all goods from Canada.1 The 2024 Statement specifically notes that the federal government is "focused on countering the U.S. threat of tariffs while fostering a stable and competitive business investment climate."2

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