{"id":65620,"date":"2025-10-21T19:41:37","date_gmt":"2025-10-21T19:41:37","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/10\/21\/equipment-manufacturing-ceos-expect-pro-growth-and-pro-business-federal-budget\/"},"modified":"2025-10-21T19:41:37","modified_gmt":"2025-10-21T19:41:37","slug":"equipment-manufacturing-ceos-expect-pro-growth-and-pro-business-federal-budget","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/10\/21\/equipment-manufacturing-ceos-expect-pro-growth-and-pro-business-federal-budget\/","title":{"rendered":"Equipment manufacturing CEOs expect &#039;pro-growth&#039; and &#039;pro-business&#039; federal budget"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<br \/><br \/>\n<iframe loading=\"lazy\" title=\"Tariffs, trade tensions and steel\" width=\"1080\" height=\"608\" src=\"https:\/\/www.youtube.com\/embed\/IWF0HXokAZ0?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><br \/>\n<\/iframe><\/p>\n<p> Equipment manufacturing executives<\/p>\n<p>                         expect a pro-growth and pro-business <\/p>\n<p>                        federal budget<\/p>\n<p>                        , following meetings with Parliamentarians and members of government in Ottawa on Tuesday. <\/p>\n<p> \u201cI think they\u2019re all onboard with what we\u2019re talking about, nobody is suggesting anything different,\u201d said <\/p>\n<p>                        Linamar Corp.<\/p>\n<p>                         chief executive Jim Jarrell, after meeting with chiefs of staff, Parliamentarians and deputy ministers from federal departments ahead of the Nov. 4 budget. \u201cI think it\u2019s going to be a pro-business, pro-growth budget, I think it has to be.\u201d <\/p>\n<p> The comments were made during a roundtable discussion organized by the <\/p>\n<p>                        Association of Equipment Manufacturers<\/p>\n<p>                         (AEM), which represents more than 1,000 members in the <\/p>\n<p>                        equipment manufacturing sector<\/p>\n<p>                        . <\/p>\n<p> Members of the AEM noted the impact from the trade war with the U.S. and China has been \u201ctremendous.\u201d The manufacturing sector lost an cumulative 58,000 jobs between January and August, although the sector showed some signs of life in September, adding back 28,000 jobs. <\/p>\n<p> Major items the AEM members would like to see in the upcoming budget include tax incentives for bonus depreciation and the expensing of research and development. The executives are also looking for increased incentives for businesses to adapt to new export markets. <\/p>\n<p> \u201cTo develop something new for a new export market, European regulations can be quite different,\u201d said Charles Vennat, president and chief executive at the <\/p>\n<p>                        C.M.I. Inc.<\/p>\n<p>                        , <\/p>\n<p>                        <span>a leading manufacturer of tracked mulching tractors and stump grinders. <\/span><\/p>\n<p>                        \u201cSo there are licensing requirements, there are design changes that are required, I mean the size of our machines can\u2019t circulate on most European roads.\u201d <\/p>\n<p> Many of these measures are found in U.S. President Donald Trump\u2019s \u201cBig Beautiful Bill\u201d and equipment manufacturing executives said Canada will need to follow suit to compete. <\/p>\n<p> \u201cSo whether it\u2019s R&amp;D or bonus depreciation, all of those provisions that were extended or made permanent has been a massive boom to the industry in the U.S.,\u201d said Kip Eideberg, senior vice-president of government and industry relations at AEM. \u201cSo we\u2019ve been encouraging the Canadian government to look at that and do the same.\u201d <\/p>\n<p> As for trade uncertainty, the AEM remains confident that a deal can be reached during the review of the <\/p>\n<p>                        Canada-United-States-Mexico Agreement<\/p>\n<p>                         (CUSMA), which is scheduled for next year. <\/p>\n<p> \u201cIt\u2019s hard to see Canada, the United States and Mexico not coming to some agreement,\u201d Eideberg said. <\/p>\n<p> \u201cSince the beginning of NAFTA, we\u2019ve really operated as an industry <\/p>\n<p>                        as if there were no borders<\/p>\n<p>                        ,\u201d he added. \u201cThat\u2019s the way we\u2019ve been taught and adapted to and excelled at doing business.\u201d <\/p>\n<p> The executives estimate tariffs on steel and aluminum have added five to seven per cent to their costs and hurt the bottom lines of most companies in the manufacturing sector and note that companies will not be eating those costs for much longer. <\/p>\n<p> \u201cTariffs ultimately are going to be inflationary and inflation can impact markets that we serve, and that will potentially impact the production of our products,\u201d said Yannick Montanago, president of <\/p>\n<p>                        Kubota Canada<\/p>\n<p>                        . <\/p>\n<p> <em>\u2022 Email: jgowling@postmedia.com<\/em> <\/p>\n<ul class=\"related_links\">\n<li>Canada&#8217;s job growth beats expectations as manufacturing rebounds<\/li>\n<li>Who is Peter Howitt, the Canadian who just won the Nobel Prize for economics?<\/li>\n<\/ul>\n\n<br \/>Equipment manufacturing CEOs expect &#039;pro-growth&#039; and &#039;pro-business&#039; federal budget<\/a><br \/>\n<br \/>2025-10-21 19:41:37<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Equipment manufacturing executives expect a pro-growth and pro-business federal budget , following meetings with Parliamentarians and members of government in Ottawa on Tuesday. \u201cI think they\u2019re all onboard with what&#8230;<\/p>\n","protected":false},"author":2,"featured_media":65621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/10\/1022-mg-manufacturing.jpg","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-65620","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/65620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=65620"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/65620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/65621"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=65620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=65620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=65620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}