Calgary’s business leaders say Donald Trump’s win in the U.S. election means a big challenge in the days ahead.

The Calgary Chamber of Commerce said Wednesday that Trump’s policies are a major cause for concern.

“We recognize the significant consequences this administration will have for Alberta and Canada,” said Chamber president and CEO Deborah Yedlin.

“Trump’s ‘America First’ agenda, which emphasizes self-reliance, deregulation and tariffs, poses a serious challenge to Canadian businesses because of our deep economic ties.”

Trump declared victory in the US presidential race on Tuesday, capturing the key battleground states of Pennsylvania, North Carolina and Georgia while holding the lead in four other critical states.

He entered election day with a 50-50 chance of taking back the White House, a remarkable turnaround from Jan. 6, 2021, when many experts said his political career was over.

Yedlin said business leaders are concerned about what impact a second Trump administration could have on the $3.6 billion in goods and services that cross the Canada-U.S. border every day.

“The Canadian economy – especially sectors such as energy, agriculture and critical minerals – depends on U.S. markets. Trump’s focus on energy independence and tariffs could put Canadian exports at a disadvantage, putting billions of dollars in revenues at risk and threatening jobs, especially in our vital energy sector.” said Yedlin.

Chamber calls on federal and provincial governments to adopt a “Team Canada” approach in all negotiations with the United States

He said this strategy will “strengthen Canada’s position as a strong and reliable partner and protect our jobs and economic prosperity.”

“We also call on the federal and provincial governments to accelerate the development of meaningful policies and measures aimed at improving Canada’s economic growth and productivity to minimize the potential impact of trade policies that would harm the Canadian economy.”

(With files from Reuters)