Canadian Finance Minister Chrystia Freeland and U.S. Treasury Secretary Janet Yellen say
they are focused on building more resilient supply chains to lower inflation.
During her first trip to Canada, Yellen said at a news conference in Toronto that better supply
chains with allies will lead to greater price stability for consumers.
“Making our supply chains more resilient, including with partnerships with close trading partners
and allies like Canada will help protect us against costly disruptions and shocks to the economy
today and into the future,” she said.
At their meeting, Freeland and Yellen said they discussed how to keep costs down for families,
as well as how the two countries can continue to stand united against Russia’s invasion of
Ukraine.
Canada’s inflation rate for April rose 6.8% from a year ago, the highest level since January
1991. However, inflation in Canada remains lower than in England, Germany and the U.S.
